Unaccountable
On November 20, 2013, I invested into physical gold, which was set in trust by The Entrust Group. I was sent documentation by Entrust reflecting the items involved in my investment. On December 15, 2013, my Entrust statement reflected an escrow account of $15,028 (the gold coins from my investment). I immediately called Entrust inquiring why it reflected an escrow rather than my coins, as it reflected the coins of the balance of my account, I was told not to worry it was merely they had not posted yet. I did not receive a 2014 statement. On November 13, 2015, I received some correspondence from Entrust stating they had not received the gold portion of my investment. I was told during their “annual audit” it was found the coins were not in their possession, mind you this was 2 years after the initial investment.
I have been in contact with Federal agencies and Oregon’s DFR, they agree I have been harmed, but they have no regulatory role in the Presious Metals Industry. Entrust and companies like them have no governmental regulatory oversight.
I have asked Entrust to assist me in filing a claim to recover my investment, I was told it was “…our responsibility is to facilitate the transaction between all the parties including the client, the dealer and the depository.” The statement goes on to say that “…the fact that My Private Bullion did not send to the depository the metals you bought from them is not our responsibility as a passive recordkeeper.” Curious, so when it is “your responsibility to facilitate” and you do not “facilitate” your response is we’re just a “passive recordkeeper”?
Entrust was not truthful on December 15, 2013, when I inquired about the “escrow account”, did not follow up on it then or ever until their “annual audit” which was done 2 years after the fact, and now they tell me they’re just the bookkeeper?
4. elokuuta 2024
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