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Violation Tracker Individual Record

Company: Red Rock Secured, LLC
Penalty: $56,334,313
Year: 2024
Date: April 25, 2024
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: The Commodity Futures Trading Commission announced that the U.S. District Court for the Central District of California entered a consent order against Red Rock Secured LLC and three individuals finding them liable for making fraudulent misrepresentations to customers and rendering unlawful investment advice in connection with the purchase and sale of precious metals. The order requires the defendants collectively to pay $38,984,313.90 in restitution to those defrauded, disgorge $5.1 million in ill-gotten gains, and pay $12.25 million in civil monetary penalties. On May 7 the parties also settled a related case brought by the Securities & Exchange Commission in which a penalty against Red Rock was deemed satisfied by the payments to the CFTC.
Level of Government: federal
Action Type: agency action
Agency: Commodity Futures Trading Commission
Civil or Criminal Case: civil
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.