My Regent Gold investment advisor, Michael SNyder, somehow emptied all my iRAs and my savings totalling $600, 000 disappeared. He told me I needed to borrow as much money as possible from my house for him to manage. He continually called me and told me to make trades because each one would make me up to 8 % (because he could buy gold at yesterday's prices.) Neither he or management will tell me who took my money. Regent Gold refused to give me any statements on the money i borrowed from the bank for him to manage. Also I borrowed another $200, 000 for his private business which he promised to return if I were unhappy. Again, I never received any accounting or review of bills. To add insult to injury he will not return $2000 for a trip for his wife to go to New York City to see Hamilton and The Book of Mormon.. Management refuses to tell me who stole my money and they refuse to tell me anything about the money I borrowed from my house that they are managing. Why does Management's refuse to tell me who stole my money or give me statements on the money I borrowed? Ignoring this theft makes one wonder about Regent Gold
My investment expert at Regent Gold convinced me to invest $400, 000 in Regent Gold at $200, 000 in his own private company.
He often called me up and told me to make trades as he told me my account was continuing to grow. He lost all of my money because his trades were continually buying high and selling low the next week. He also refused to give me any documentation or tax information concerning his private company which he kept calling up and saying I had to invest more money in to save it.
I purchased American Gold Eagle Proofs 4-Pc Sets in 2016. Sell price at the time per, BullionValues.org Historical Pricing, was $3203 per set. I paid Regent Gold, LLC $4632, an instant loss of $1429 per set on the sell price. There fine print in their agreement allows them to sell at a very high margin, lesson, read their fine print. I bought 6 sets of the American Gold Eagle Proofs for a combined loss of $9982. Not really a good IRA investment when it will take probably years just to try and break even. You can buy these Proofs on line at a very reasonable price, even into an IRA from "reasonable" dealers. Shop before you buy, like I should have.
I purchased a gold/silver from this company in July of 2016. My account value immediately dropped over 50% on my first statement. I was given some lame excuse because I purchased coins, which I did not want, instead of bullion. I was told the value was an IRA value, not my account value so that I would have less tax liability when I sold the gold/silver coins. The account value remains the same and they explained that there is no demand for the coins, there wasn't any either a month after I purchased them since the account value is the same.