Actions Against

Twelve state securities regulators have taken action against, a Beverly Hills, Calif.-based firm accused by multiple states of targeting older individuals to convince them to liquidate securities held with registered investment firms and use the proceeds to buy precious metals.

Two states, Texas and Colorado, reached agreements in which is offering full rescission to residents in those states who purchased precious metals and opened a self-directed Individual Retirement Account for the assets.

2019 Regulatory Actions

Texas Timeline

May 1 Emergency Cease and Desist Order entered against TMTE Inc., known as, two senior executives, and a saleswoman

May 7 Securities Commissioner Travis J. Iles denies May 6 request by to stay the emergency order 

May 14 State Office of Administrative Hearings sets Aug. 28-29 to hear’s challenge to the order 

July 1 agrees to Order with rescission offer to 84 Texas investors and to strengthen company compliance and training


May 16 The Minnesota Department of Commerce entered a Consent Cease and Desist Order against TMTE, Inc.,, Chase Metals, LLC, and Chase Metals, Inc.


July 12 Colorado Securities Commissioner issues Consent Cease and Desist Order naming, TMTE Inc., Chase Metals, and Access Unlimited Inc.


July 30 Georgia Commissioner of Securities enters Emergency Cease and Desist Order against, Walter Vera, Athena Hunter, and Samara Mills, and levies a $500,000 fine against the named parties


Aug. 8 Alabama Securities Commission enters Cease and Desist Order against TMTE Inc.,, Chase Metals,  and four agents of


Sept. 6 Kentucky Department of Financial Institutions enters Emergency Cease and Desist Order against TMTE Inc.,, Chase Metals, and four sales representatives of


Nov. 1 Missouri Commissioner of Securities enters Cease and Desist Order against TMTE Inc.,, and Walter Vera for allegedly misleading 13 Missouri residents into investing $1.4 million in gold and silver. Vera and ordered to show cause why they should not have to pay restitution plus interest, civil penalties, and investigation costs of $1.4 million.


Dec. 3 The Enforcement Division of the Massachusetts Securities Division filed an administrative complaint against TMTE Inc. a/k/a, Chase Metals LLC, TEM Inc., and Access Unlimited LLC for acting as an unregistered investment adviser and engaging in fraud in connection with the sale of gold and silver coins to Massachusetts residents.

2020 Regulatory Action


March 9 The Arkansas Securities Department entered a Cease and Desist Order against a/k/a TMTE Inc. a/k/a Chase Metals Inc. a/k/a Chase Metals LLC.


May 26 The Nevada Securities Division of the Office of Secretary of State entered a Complaint for Summary Order and Final Order to Cease and Desist And Other Appropriate Relief and a Notice of Summary Order to Cease and Desist, Intended Action, and Opportunity for Hearing against TMTE, Inc., a/k/a a/k/a Chase Metals, Inc., a/k/a Chase Metals, LLC; and Athena Hunter.


June 4 The Securities & Insurance Office of the Montana State Auditor ented a Notice of Proposed Agency Action and Opportunity for Hearing and a Temporary Cease and Desist Order against TMTE, Inc. aka,, Chase Metals, LLC, and Chase Metals, Inc.


July 20 The Alaska Division of Banking and Securties of the Department of Commerce, Community, and Economic Development entered a Temporary Cease and Desist Order Effective Immediately, Assessing Civil Penalties and Notice of Final Order against TMTE, Inc., aka; Chase Metals, Inc; Walter Vera; Athena Hunter; Sean Reza; Jonathan Sachs; David Bleeden; and Randall Kohl.

2020 Civil Actions


September 22 The CFTC and 30 states filed a Complaint for Injunctive Relief, Civil Monatary Penalites, and Other Equitable Relief against TMTE, Inc. a/k/a, Chase Metals, Inc., Chase Metals, LLC, Barrick Capital, Inc., Lucas Thomas Erb a/k/a Lucas Asher a/k/a Luke Asher, and Simon Batashvili and Tower Equity, LLC as a Relief Defendant. A Bench Memorandum was also filed and an Order Granting Plaintiffs' Emergency Ex Parte Motion for Statutory Restraining Order, Appointment of Receiver, and Other Equitable Relief was granted.

Precious Metals: Tips to Avoid Tarnishing Your Portfolio

From an Investor Alert by the Financial Industry Regulatory Authority: Precious metals are notorious for price movements that can pique investor interest during upswings and downswings alike. If you are thinking that now is the time to invest in physical precious metals such as silver, gold or maybe palladium or platinum, be aware of the risks involved. They include the potential for high-pressure sales tactics and even fraud.

Self-Directed IRAs: More Choices, More Risk

Self-directed Individual Retirement Accounts allow savers to invest in a broad range of "alternative assets" such as precious metals, real estate, cryptocurrencies, promissory notes, and private placement securities.

Expanding your retirement investing beyond traditional stocks and bonds gives you more options, but more risk. The more unconventional the assets, the harder it is to understand them, their costs and fees, and their tax consequences.

Investigate before you invest with the Investor Alert, Self-Directed IRAs: More Choices, More Risk.

Always Deal With Registered Individuals and Firms

Always check to see if a person or firm offering you an investment opportunity is registered to sell securities. One of the State Securities Board's primary responsibilities is to ensure that people selling financial products and offering financial services are licensed to do so.

That means background checks, passing required examinations, and being subject to compliance and other regulatory requirements.