Red Rock Secured LLC and three of its executives have ended government suits alleging markups of up to 130% for “premium coin” retirement investments, with settlements totaling more than $70 million.
Judge R. Gary Klausner entered final judgment Tuesday on consent agreements with the US Securities and Exchange Commission, Commodity Futures Trading Commission, and two state enforcement agencies in a pair of suits in the US District Court for the Central District of California.
The SEC’s complaint said that Red Rock CEO Sean Kelly and two senior account executives, acting as unregistered investment advisers, persuaded at least 700 clients to …
