CORAL SPRINGS, Fla., Aug. 5, 2011 (GLOBE NEWSWIRE) -- The Law Offices of Blum & Silver, LLP (www.stockattorneys.com) is pursuing claims against precious metals firms for the sale of precious metals using various misrepresentations including claims of easy profits with little risk. Blum & Silver, LLP recently filed on behalf of an investor a Florida State Court action against Gold Vault Metals, LLC ("GVM"), a South Florida-based precious metals broker-dealer which handles precious metals transactions for individual investors, and Worth Bullion Group, Inc. ("Worth Bullion"), allegedly a clearing firm through which GVM funneled all of its precious metals transactions. Plaintiffs allege GVM and Worth Bullion pitched their products as safe investments assuring substantial returns and little risk of loss of an investor's principal.
Blum & Silver, LLP's investigation of GVM/Worth Bullion has uncovered facts allegedly demonstrating that regardless of the amount invested, the investor is charged very high fees, commissions and interest. Often unknowingly, investors are forced to incur these massive charges on their investments, which can easily eliminate their ability to profit or simply break-even on their precious metals investments.
In a recent CFTC fraud advisory relating to precious metal transactions, the CFTC warned investors that firms have charged phony interest fees that diminish account equity.
The law firm of Blum & Silver, LLP is representing multiple customers involved in these precious metals transactions and is attempting to recover their investment losses in legal proceedings. If you wish to discuss this press release or have any information about our investigation of precious metal investments, contact Scott L. Silver, Managing Partner of Blum & Silver, LLP, at 1-877-STOCK-LAW (1-877-786-2552) or silver@stockattorneys.com.