By Curt_Anderson June 24, 2024 4:12 pm Category: Personality (0.0 from 0 votes)
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It's not just that they believe and donate in response to Trump's preposterous lies, or shell out good money for "health supplements" from Alex Jones, they are scammed by "investment" salesmen. --CA
At a conference this month put on by Turning Point Action, a rising conservative activist group, 8,000 people packed into a Detroit convention hall to hear directly from Republicans’ presumptive nominee for president, Donald J. Trump.
But first, there was a word from a sponsor: Alexander Spellane.
Mr. Spellane, who federal regulators say is also known as Alexander Fisher and Alexander Overlie, sells investments in precious metals. Cash, stocks and 401(k)s could plummet in value, he warned from the stage, but he told the throng of Trump supporters that they could protect their money by buying gold and silver from his company, Fisher Capital.
The Commodity Futures Trading Commission has been trying to shut down Fisher Capital’s sales for the past 14 months, alleging in a lawsuit that it sold gold and silver coins at such exorbitant, deceptive prices that virtually every customer had suffered “immediate and dramatic losses on their investment.” Fisher Capital has denied the allegations.
That lawsuit did not keep Turning Point Action from embracing Fisher Capital as a top-level sponsor of the Detroit event, which has required a donation of at least $250,000 and allowed Mr. Spellane to be photographed backstage with Mr. Trump. Mr. Spellane also claims to be the largest corporate sponsor of a sister group, Turning Point USA.
CFTC Charges Precious Metals Dealers and Their Owner in Multimillion Dollar Fraud Targeting the Elderly
Washington, D.C. — The Commodity Futures Trading Commission announced today it has filed a civil enforcement action in the U.S. District Court for the Eastern District of New York against two affiliated precious metals dealers located in Los Angeles, California, Fisher Capital LLC and AMS Consulting Solutions LLC d/b/a Fisher Capital (collectively Fisher Capital), and Fisher Capital’s principal, Alexander Spellane a/k/a Alexander Overlie, for perpetrating a precious metals investment fraud targeting elderly persons nationwide. The complaint charges defendants with defrauding hundreds of elderly persons into investing more than $30 million in gold and silver coins worth far less than the defendants led victims to believe.
In its continuing litigation against the defendants, the CFTC seeks the return of ill-gotten gains, civil monetary penalties, restitution, permanent registration bans, and permanent injunctions against further violations of the Commodity Exchange Act (CEA) and CFTC regulations, as charged. The CFTC also seeks to permanently bar the defendants from trading precious metals that are commodities, or from trading commodity interests.
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