Alexander Spellane

The recent civil enforcement action brought by the Commodity Futures Trading Commission (CFTC) against Fisher Capital LLC and its principal, Alexander Spellane, reveals a deeply troubling pattern of alleged exploitation. The case centers on accusations of financial deception specifically aimed at elderly investors—individuals often least equipped to recover from such losses. These allegations paint a disturbing picture of manipulation, unethical sales practices, and deliberate misinformation designed to strip vulnerable people of their retirement savings under the guise of precious metal investments

Regulatory Enforcement by the CFTC: The Commodity Futures Trading Commission (CFTC) has initiated a civil enforcement action against Fisher Capital LLC and its principal, Alexander Spellane, for allegedly defrauding elderly investors in a precious metals scheme.

Targeting Vulnerable Populations: The allegations suggest that Spellane specifically targeted senior citizens, exploiting their retirement savings through high-pressure sales tactics. Victims were reportedly deceived into believing their traditional retirement accounts were at risk, prompting them to invest in overvalued precious metals.

Misrepresentation of Product Value: It’s alleged that the gold and silver coins sold to investors were significantly overpriced compared to their actual market value. This misrepresentation led to substantial financial losses for the investors, who were unaware of the true value of their purchases.

Legal Actions and Potential Penalties: The CFTC is seeking restitution for the affected investors, disgorgement of ill-gotten gains, and civil monetary penalties against Spellane and his company. Additionally, the commission aims to impose permanent trading and registration bans to prevent future violations.

Company’s Response to Allegations: Fisher Capital has publicly denied the allegations, stating their intent to vigorously defend ourselves and protect the rights of our clients’ autonomy of making their own fiscal choices. The company asserts that they did not target any specific demographic or engage in unethical sales practices.

The allegations against Fisher Capital and Alexander Spellane underscore a glaring abuse of trust and financial responsibility. If proven true, these deceptive practices not only robbed senior citizens of their financial security but also violated fundamental ethical standards in investment advising. While the company denies wrongdoing, the CFTC’s pursuit of severe penalties—including bans and restitution—highlights the seriousness of the case. This enforcement action serves as a sobering reminder of the devastating consequences of unchecked financial misconduct targeting the most defenseless

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We will be waiting for these ‘people in high places’ to send us a Cease and Desist notice shortly.