Five 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.

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


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