- Complaint against Rust Rare Coin and Gaylen Rust charges additional defendants.
- Amended complaint alleges Denise Rust and Joshua Rust, participated in a fraud.
- Defendants signed checks issued to Silver Pool investors knowing that they were
Ponzi payments involving repaying money recently contributed by other investors.
- They transferred investor funds in Silver Pool, from accounts used by Gaylen Rust and RRC to one or more relief defendants or to help fund RRC’s business activities.
- Amended complaint also alleges that the Silver Pool fraud is larger than previously alleged, involving over 430 individuals and at least $200 million in investor funds.
- Nov. 15, court entered an order freezing asset of defendants and relief defendants.
- In ongoing litigation CFTC sought full restitution to clients, civil penalty, permanent registration and trading bans, and permanent injunction against further violations.