Metal Cos. Can't Dodge Subpoena In CFTC Probe: 7th Circ.

Law360, New York (May 29, 2013, 4:54 PM EDT) -- Three precious metals companies under investigation over a potential multimillion-dollar shortfall must turn over customer information to the government after the Seventh Circuit ruled Wednesday that they are not prohibited from such disclosures by the Right To Financial Privacy Act.

The appeals court rejected arguments mounted by metals financing firm Worth Bullion Group Inc., metals marketing business Mintco LLC and metals storage depository Diamond State Depository LLC that the companies should be considered financial institutions under the RFPA and therefore prohibited from fully complying with a...
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