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Fool's Gold
Jenifer McAndrews Scam Targets Gold and Precious Metals Market
February 18, 2013
By: Jenifer McAndrews

EYEWITNESS ONLINE WEBCAST VIDEO


Looking to earn a rate of return on your money that beats the market by a long shot? Well join the crowd, but brace yourself for trouble.

U.S. Postal Inspector Michael Romano says, “People are falling on hard times, they are seeing offers that quite frankly look too good to be true and out of desperation they are falling for them.

That's where James Price enters the picture. He offered to double and triple investors' money in the gold and precious metals market.

“He started off with a very legitimate based company and was actually returning investments to his customers.”, Romano says.

But at some point, price used his company, Madison Precious Metals as a personal checkbook.

Romano says, “Basically pays off his house, very high end antiques, luxury cars for him and himself and makes a down payment on a house for his son.”

More than six-million dollars was stolen from investors. Postal inspectors say be suspicious of any investment promising double and triple returns.



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