| Goldco, a firm that offers IRAs backed by gold and silver, announced its release of Coin IRA, “a new subsidiary devoted to providing investors the opportunity to save for retirement by investing in digital currencies and cryptocurrencies.” Coin IRA will start with a Bitcoin IRA, one of the few available in the U.S., with the plan of adding more digital currencies such as Ethereum, Litecoin, etc. “With so much growth in digital currencies this year, this new sector offers incredible potential for return on investment. We want to make sure that our clients have every opportunity to benefit from these new technologies and maximize their retirement assets,” said Trevor Gerszt, Goldco’s CEO, in a statement. Earlier this year, Goldco made Ron Paul its chief ambassador for the brand.
Michigan Investment Broker Accused of Fraud
Ernest J. Romer III of Shelby Township, Mich. faces up to 10 years in prison and more than $2 million in fines stemming from allegations of fraud, The Detroit News reports. He is accused of “fraud in connection with the offer or sale of securities and engaging in dishonest and unethical practices,” according to Michigan’s Corporations, Securities and Commercial Licensing Bureau. He allegedly persuaded customers to sell securities and then used the proceeds (more than $300,000) for personal use. Authorities received multiple complaints from Romer's customers. He was ordered to cease and desist business operations last Tuesday, and Southfield-based CoreCap Investments, which had registered him as a broker, terminated his registration in January.
SIFMA Publishes Quarterly Research Data on Redesigned Website
According to SIFMA’s quarterly research, long-term securities issuance totaled $1.73 trillion in the second quarter of 2017, a 9.8 percent decrease from the first quarter and a 12.8 percent decrease year-over-year. The organization published the findings on its newly designed website, which went live on Wednesday. In a blog post, SIFMA admitted that while it has a “wealth of substantive data and resources,” at times the “information went so deep that it became buried in bottomless silos.” To correct this, SIFMA said the new site features an improved search function, interactive visualizations of bond data, and easier access to news updates, research and event information. READ MORE OF THE DAILY BRIEF |
