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Precious Metals Fraud typically involves deceptive practices where individuals or companies misrepresent the nature, value, or ownership of precious metals like gold, silver, or platinum to investors or buyers. Common schemes include falsely promising high returns on investments in precious metals, selling counterfeit or non-existent metals, using misleading sales tactics, or failing to deliver purchased metals altogether. Fraudsters exploit the allure of precious metals’ stability and value to deceive victims, often through complex schemes that involve convincing documentation or elaborate marketing strategies. Victims can suffer significant financial losses when they discover they have invested in worthless or nonexistent assets, highlighting the need for caution and due diligence in dealings involving precious metals.