ComplaintsforRegal Assets LLC
Precious Metal Dealer
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Complaint Details
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Initial Complaint
10/30/2023
- Complaint Type:
- Product Issues
- Status:
- BBB unable to locate business
My husband and I invested 400,000k of our retirement savings with Regal Assets. We only ever received 87,000k in actual precious metals and the rest of our precious metals order has remained pending. We learned that this company has been shut down and that the owner used millions in investor funds for personal use.Initial Complaint
05/16/2023
- Complaint Type:
- Product Issues
- Status:
- Unanswered
I purchased gold bullion from Regal Assets and was told the transaction would take about 8 weeks. I received the paperwork from CNB showing a depository account had been opened for me about 3 weeks later. Then a few months after that I saw that gold had gone up, so I called Regal Assets to inquire about my account balance. The phone number was not in service so W googled Regal Assets only to find out they were out of business with no forwarding phone number. I then found out that the *** ***************************** had disappeared and that he took all of the the funds receivedInitial Complaint
04/12/2023
- Complaint Type:
- Customer Service Issues
- Status:
- Unanswered
on 1/11/22, my wife and I transferred $330,000 from a traditional *** to a gold *** with Regal Assets, LLC located in **********. The custodian for the *** is *********************** in ******, ******. Since we invested, the assets of gold, silver and platinum have never been deposited in the depository in ********, Numerous emails and phone calls were made to ********* and ******** to get a status of the metals delivery. I needed to have a mandatory RMD distributed by April 1st of this year or there is a penalty. The metals are not in the depository, so the entire life savings for retirement for my wife and I have been scammed. I've contacted an attorney, who works on a contingent basis, to try and get something back from this criminal enterprise.Initial Complaint
03/10/2023
- Complaint Type:
- Order Issues
- Status:
- Unanswered
We purchased metals in September 2021. Our custodial banks sent us an audit letter stating that our metals were never delivered. I am one of many people that have been scammed by the *** and "President" of this fraudulent company. Please join us on ********* We have formed this group to brainstorm our next steps. Victims of Regal AssetsInitial Complaint
02/06/2023
- Complaint Type:
- Product Issues
- Status:
- Unanswered
In march of 2022 I transferred 1 million dollars from my Fidelity 401K to a Regal ****** precious metals **** I was told by ******************************* (rep) that it would take about 8weeks or more until the metals were received by the custodians CNB. I questioned him as to why so long but he said that was just the way it was when dealing with a large amount of precious metals. In June of that year I received a letter from the custodians "CNB" stating that the metals still had not arrived. I thought that tone a bit strange but I did remember that I was told by ********* and how it would take a long time. When I didn't receive any statements of my account this year, I started making phone calls. Regal Assets could not be contacted through any media. Not phone,or online. They just didn't exist! I then called CNB and they told me that this was happening to other clients as well and that I should contact the **** and file a complaint. They said many clients were hiring lawyers! Please I need your help. This is my life's savingsInitial Complaint
02/01/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Unanswered
I can't find an email/phone number or website to speak with a representative at this business. BBB's has those but they don't go through. I want to speak to someone about my deceased husband's assets at the company. I have the death certificate to enable me to speak with someone.Initial Complaint
12/09/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Unanswered
In February 2022, Regal Assets signed a contract with me to purchase over 100K of gold bars and deliver them to a depository to be held as an IRA in the custody of Community National Bank. They promised the gold would be at the depository within 60 days. They lied. In June 2022, the bank notified me that zero gold had been delivered. I was able to work with the President and finally, one-third of the gold was deposited. It is now December 2022 and Regal Assets seems to have dissolved. The CEO,****************, lied, delayed, and blamed everyone else for the delay until he finally quit taking my calls. He called it mismanagement - I call it theft - and promised again to have the gold deposited by December 1. The loss of these retirement funds has devastated my family. I just turned 65 and was counting on that money. Now I consider giving up on life altogether. All I want is for my funds to be returned to me. I am still in contact with the president who said there is a rumor the CEO has fled the country. That's what criminals do.Initial Complaint
11/30/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Unanswered
Back in April I opened an IRA precious metal account through Regal Assets to rollover my 401k with my previous work. On the day my fund was transferred to my new IRA account I ordered metals, gold and silver, over the phone with Regal Assets, *********. I received an order confirmation email from him and it said as soon as they receive the fund from my IRA account the metals are going to shipped to the Delaware Depository. He advised me this process usually take 8-10 weeks. I authorized the fund transfer to Regal Assets on April 24th so I assumed the metals would be delivered to the depository around the end of June. The end of June I received a letter from my IRA custodian bank notifying me the metal had not delivered yet. I sent an email to ********* and asked the status of the delivery. He replied that he would forward my email to Regal Assess CEO***** ******, and she would investigate and update me. A week passed and no update from her so I sent her an email and asked for the status of delivery. She replied she would check with the vault but after that I didn't hear from her. In August I emailed her again, and she replied the metals had just shipped because their venders were backlogged. In September I emailed her and she replied she sent a email to her team for update, and I didn't hear from them after that. October I emailed her again and got an auto reply saying ****** was no longer employed by Regal Assets, and direct any inquiry to ************. I sent bunch of emails to ********* since but hasn't got any response. I contacted my custodian bank and they told me they have similar cases with Regal Assets (taking the fund and no delivery) since late 2021 so they suspended to take new customer from them. I have been calling Regal Assets but nobody ever pick up the phone. I also called *********'s direct phone and left messages but he hasn't return my calls. This company took my IRA money and not delivering the metal, and completely ignoring me.Initial Complaint
11/15/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Unanswered
I set up a metals *** with Regal Assets in May, 2022. The metals have not been delivered as promised and it is November, 2022. I would like my funds returned as I have not received the metals and I would like to invest my funds elsewhere.Initial Complaint
11/14/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Unanswered
On or about August 10th 2022 I talked to a salesman named **************** of Regal Assets about purchasing precious metals. These gold and silver coins were to be purchased from Regal Assets and shipped to Idaho Armored Vaults. The Price of the order was $49,978.34 The order consisted of all IRA approved gold and silver coins.I directed my IRA custodian ( The Entrust group) to forward funds to Regal Assets wich they did shortly after my order that week. It has now been over twelve weeks. I have repeatedly called emailed and left phone messages. No one except a person named *********** has communicated with me. She checks incoming messages and relays them. I emailed *************** the owner numerous times and get no reply. The sales person **************** dose not pick up or reply to text messages. The company's phone number is*************** The owner's email address is ************************** The fax is ************** I have saved all my communication with this company. If you can help with this I would be very grateful. Please let me know if I can help.
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Customer Complaints Summary
36 total complaints in the last 3 years.
1 complaints closed in the last 12 months.