Securities Broker Placed on FBI's 'Most Wanted' List for the Deals With Precious Metals
Glasgow-born James Ward, 65, accused of running a precious metals fraud scheme in the US has been placed on the FBI's "most wanted" list.
FBI said that he has offered investors bogus deals involving precious metals such as gold, silver and platinum and has received about $400,000 from at least 12 investors between September 2007 and March 2010.
He went on the run after being charged in Florida with wire fraud in 2012.
The FBI states on its website: "Ward allegedly operated an entity called Kastle & Hawk, Inc., which solicited investors to buy precious metals such as gold, silver, and platinum on a leveraged basis.
"Instead of investing the approximately $400,000 Ward received from at least 12 investors, Ward allegedly used the money for his own personal use and benefit.
"No precious metals were ever acquired for investors."
The FBI lists Mr Ward's occupation as "securities broker". It also describes him as blond but "may change his hair colour frequently".
The agency added that Mr Ward, who has previously lived in Miami Beach, may travel to the United Kingdom, Canada and Mexico.
However, independent experts say that this and similar cases are the sign of the attack on independent brokers by the fed as an attempt at any cost to keep the dollar. Now most investors understand that the dollar and all related financial instruments are close to collapse and therefore they are trying to go to alternative safer lagoons. Traditionally, such a lagoon is precious metals. In the market there is a tendency for mass flight of investors in gold. And not only through exchanges and funds and banks controlled by the fed, but through private brokers. This the fed can not allow, because it means a loss of control and will lead to the collapse of the financial system. To keep the dollar they can try to bring down the price of gold again, as they did in the recent past. This attempt has a chance of success if all operations with precious metals are carried out through the structures controlled by them. That is why the fed began a "witch hunt" in respect of private brokers, trying to show that everyone who has a lot of nerve to engage in physical (not “paper”) gold will be prosecuted even for minor transactions with precious metals. Believe me 400,000 dollars is a very small amount to work in this market. This is the cost of about 10 kg of gold.