Metals Telemarketer To Pay $5M To Settle FTC Claims

Law360, Los Angeles (August 20, 2013, 10:36 PM EDT) -- Sterling Precious Metals LLC agreed Monday to pay $4.7 million to settle claims from the Federal Trade Commission that it had lured customers into contracts for metal and other investments without properly disclosing the terms of the deals.

The metals telemarketer will pay $4.7 million, including personal payments in the tens of thousands from two of the company’s executives, according to the proposed settlement filed in the Southern District of Florida. The company and the two executives will neither admit nor deny any wrongdoing, according to...
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