Oregon Coin Dealer Faces Lawsuits from Gold and Silver Investors
The owner of an Oregon-based investment company faces three separate lawsuits by investors who claim he never delivered on thousands of dollars in gold and silver coins.
According to the Oregonian, Lawrence Henry Heim, president of U.S. Gold & Silver Investment Incorporated, faces two state and one federal lawsuit after buyers said he never delivered gold and silver coins valued at least $875,000.
The federal lawsuit reportedly claims that investigators from Pennsylvania gave Heim $474,000 to buy bags of the coins, but when they later asked for delivery, Heim cut off communication with the group.
The news source reports that a former technical analysts who worked for Heim in the 1980s is also considering a lawsuit claiming he paid Heim $350,000 for coins that were purchased on contract and never delivered. Those coins are now reportedly worth $1 million.
Heim reportedly is the subject of a federal investigation for allegedly taking more than $2 million dollars from investors to buy coins. In March, federal agents reportedly seized computers, safe deposit box keys and records from Heim’s Tigard home.
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Tags: Investors
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