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Alliance Shield LLC Scam

Report #: 14591 - 0 Comments
Date Reported: Thursday, March 9, 2023
Status: Active and Ongoing
Severity: Elevated - Smear Campaign
Primary Weapon: Other
Specific Location: Woodland Hills
City/Local Area: Los Angeles
State/Territory: California
Region: United States

Important Warning To Elderly Community:

You must have known about Safeguard Metal LLC, a firm that claims to the experts in investment advisor and they lured investors with false and misleading statements to get them to sell their existing securities and transfer the proceeds into self-directed individual retirement accounts to be invested in gold and silver coins. Safeguard marketed itself as a full-service investment firm with $11 billion in assets under management and offices in London, New York, and Beverly Hills, California. But, in reality, says the complaint, the company sold significantly less than $75 million in precious metals and silver coins in total since it started business, and only operated from a small, leased space in the Woodland Hills area of Los Angeles, with no other offices.

Since the investigation has ongoing they have started the new business under the name Alliance Shield LLC with same scam. Alliance Shield LLC is a precious metal dealer based in Woodland Hills, California. As per their website they provide the necessary education to the customers[elderly people] on how they can maximise their savings potential. Like they wanted us to believe that they are mere advisory firm but on the contrary they are like cold calls fraud firm who try to impose their intellectual on others. They keep on calling the customers and read the scripts and present the false data as a result they make the customers invest in precious metals and gold. In return the they charge very high commission[way high then normal commission].

The problem with Alliance Shield LLC business model is not necessarily in the sale of precious metals, which can be a legitimate investment opportunity. Rather, it lies in the high commission rates that the company charges investors. According to reports, Alliance Metal charges commission rates of up to 60% on gold coins and bars. This is significantly higher than the industry standard, which typically ranges from 5% to 10%.

Furthermore, Alliance Shield LLC representatives allegedly fail to disclose these high commission rates to potential investors, leading them to believe that they are getting a good deal. Some investors have reported losing thousands of dollars as a result of these hidden fees.

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