Scammers Who Defrauded Seniors Out of Millions Sued by FTC

Money hands
Money hands

A husband and wife team of con artists who ran a bogus precious metals investment scheme are being sued by the Federal Trade Commission for swindling seniors out of tens of millions of dollars.

Harry R. Tanner, Jr. and his wife, Andrea Tanner, the FTC has charged, ran a telemarketing scheme that conned senior citizens into buying precious metals on credit without disclosing the costs and risks involved -- including the fact that victims were usually forced to pony up more money or risk losing their entire investment.

The FTC said the Tanners and their company, American Precious Metals LLC, of Deerfield Beach, Fla., fleeced elderly victims out of more than $37 million dollars. Pending trial, a federal judge has shut down the Tanner's company, placed it in receivership and frozen the defendant's assets.