Carabini [Monex President] [...] engaged in numerous unfair or deceptive acts or practices

“In the course and conduct of their business, defendants UTC, UCC, Carabini [Monex President and founder], Owens, Martin, and Myers have engaged in numerous unfair or deceptive acts or practices in violation of Section 5(a) of the FTC Act, 15 U.S.C. § 45(a) including, but not limited to, the following: A. Falsely representing, directly or by implication, that certain dealers of precious...

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“[...] Parsons ‘practically guaranteed’ profits and urged Complainant to forward a check [...] to [...] Monex ‘right away’ [...]“

“[...] Respondent Parsons told Complainant that “enormous prices” were just around the corner in the silver market. During the initial and subsequent conversations, Parsons “practically guaranteed” profits and urged Complainant to forward a check for $2,860 to him and Respondent Monex “right away” to receive the benefit of the upward market...

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“Concealment of Sales Contests and other Incentives to Sell Particular Metals”

“[...] 34. Throughout the class period, during weekly meetings, MDC [Monex] told its account representatives what transactions to push on customers. MDC [Monex] told them to advise customers to buy or sell a particular metal, and gave them a scripted rationale that they could, if needed, relay to customers. The “brokers,” however, did not tell customers that the advice they were...

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“[...] Monex uses advertisements [...] that are false and misleading.”

“[...] 16. In its sales efforts, Monex employs “account representatives” to find and handle customers. Monex also sends out thousands of brochures nationwide from its Newport Beach headquarters using the United States mail. Monex places ads in the national media, including magazines, newspapers, and television broadcasts such as CNN and The Weather Channel. MDC also maintains an...

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“[...] Monex brokers fraudulently induced customers [...]“

“One series of allegations in the complaint is that Monex brokers fraudulently induced customers to open Atlas accounts through misrepresentations and omissions that minimize the risks of investing in volatile precious metals through a margin account. The misrepresentations are found in brochures, print and television advertisements, a web site, and documents signed by customers....

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“[...]restraining Monex from engaging in securities transactions in a fraudulent manner[...]“

“[...]an action was brought by the Securities and Exchange Commission on December 12, 1974 in the United States District Court for the Central District of California [...] against Monex for purportedly engaging in activities in violation of the securities laws. A temporary restraining order was obtained in that action by the S.E.C., with Monex’ consent, restraining Monex from...

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