Gold investment has existed for centuries. Each new century there is always a big gold investment scam that captures the attention of the world. In the current society, getting scammed can be easy depending on how gullible one is. However, it should not exist because we are currently living in a digital world, where you can get any piece of information through the click of a button. Here are some of the biggest gold investment scandal

Bullion Direct Inc Gold Investment Scam

First on our list is the Bullion Direct Inc Gold investment scam which leads to the loss of investors' money worth $ 16 million. Bullion direct inc was a USA company that attracted customers by claiming to buy for their precious metals, which the company assured them that the precious metals were being placed inside the company vault. However, late it came to public light that was not the case. The Bullion Direct inc CEO was brought in front of the court where he was charged with money laundering and wire fraud. He was later discovered guilty on all accounts and sentenced to 10 years behind federal bars. The company had swindled over 5,800 investors of their hard money between January 2008 to July 2015.

Suisse International Scandal

Second, our top gold investment scam is Suisse International scandal. A company based in Singapore. The gold investment scam leads to the loss of $250 million among 260 investors. The company attracted investors by promising them a huge return on every purchase of gold made limited editions coins. The coins could give all of the investors 20% -25% in terms of returns. However, the company was not able to pay investors on their returns by February 2015. In the coming months, the company failed to pay the investors.

Amber Gold Scandal

The third gold investment scam takes us to Poland. In Polish history, the Amber gold investment scam was one of the biggest gold investment scandals. The scam revolved around 19,000 customers losing about $236 million in gold investment between 2009 and 2012. The company attracted investors by promising them an impressive return on investment of up to 14 %. In 2012 the Polish Internal Security Agency started investigating the company. The Agency investigation led to the sentencing of Amber Gold the founder of the company, to 15 years behind bars. On the other hand, his wife was sentenced to 12 and a half years in Polish prisons. Even with Political intervention most of the investors have never received their money

Monex Gold Investment Scam

Fourth on our list of the top gold investment takes us back to the USA. In regards to gold investment, this is probably the biggest scam in the entire world. The scam leads to the loss of investors' money worth $290 million. The company attracted investors through Atlas Program which dealt with gold and precious metal trading. In 2017, the company and its affiliate companies were charged with defrauding customers by the Commodity Futures Trading Commission (CFTC).

Conclusion

After reading the above blog piece, are you having second thoughts about gold investment? Well, in any normal world, the scam will always exist and will continue to exist. The only sure way to avoid getting scammed is by conducting your due diligence. By reading this blog piece you are on the right path. However, if you are looking for more insights into gold investment make sure to follow our site.