Red Rock Secured LLC, Sean Kelly, Anthony Spencer, and Jeffrey Ward


May 16, 2024

Type of alert:


The U.S. Securities and Exchange Commission (SEC) recently closed a significant case against Red Rock Secured LLC and its executives, Sean Kelly, Anthony Spencer, and Jeffrey Ward. The case, initiated in 2023, uncovered a fraudulent scheme targeting retirement account holders, resulting in losses exceeding $50 million. Through deceptive tactics, the defendants convinced investors to shift their retirement savings into gold and silver coins, promising minimal markups. However, investigations revealed markups as high as 130 percent. The final consent judgment, entered by the United States District Court for the Central District of California, orders the defendants to pay over $76 million in disgorgement, interest, and penalties. Read on to delve into the details of this intricate case.

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