June 17, 2015-Palm Beach County Florida
Jeffrey Schuler, 54, of Boynton Beach, Florida pled guilty to one count of wire fraud, in connection with the operation of Fort Lauderdale based Liberty International Financial Services, which he operated with Christopher Anzalone.
Liberty employed brokers that solicited investors nationwide to purchase precious metals, such as gold, silver and palladium. Schuler falsely represented to the brokers that he was actually making precious metal trades for investors. In reality, few trades were made. Of the $4 million raised from investors, less that $200,000 was actually invested in precious metals.
Instead, according to the FBI press release, money was paid old investors (ponzi scheme) and to fund a substantial salary to Schuler.
He faces up to 20 years. Sentencing is scheduled for August 25, 2015.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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