What Happened to Regal Assets?
Regal Assets was once considered a legitimate player in the Gold IRA industry. They had celebrity endorsements, an A+ BBB rating at their peak, and appeared in numerous "best Gold IRA companies" lists across the internet.
It was all a facade.
Forensic investigation and legal proceedings have now confirmed that Regal Assets operated as a fraudulent enterprise. A default judgment has been entered against the company, confirming that customer funds were systematically misappropriated.
The Fraud: What the Judgment Revealed
Key Findings from Legal Proceedings
- Misappropriation of Client Funds: Customer money intended for precious metals purchases was diverted to personal use
- Personal Luxuries: Funds were used to finance luxury purchases rather than metal acquisitions
- Default Judgment: The company failed to defend against fraud allegations, resulting in default judgment
- Total Dissolution: The company has ceased all operations
This is not a case of "poor customer service" or "high fees." This is theft. Customer retirement funds intended for gold purchases were stolen and spent on personal luxuries.
The Warning Signs That Were Missed
In hindsight, there were indicators that should have raised more scrutiny:
- Aggressive Marketing Over Substance: Heavy investment in appearances and endorsements
- Opacity in Operations: Difficulty verifying metal purchases and storage
- Escalating Complaints: Pattern of complaints before the collapse
- Liquidity Issues: Delays in fulfilling customer orders and buyback requests
Unfortunately, these signs were obscured by the company's polished marketing and apparent legitimacy.
If You Were a Regal Assets Customer
Steps to Take Immediately
- Contact your IRA custodian — Verify what metals (if any) are actually held in your account
- Document your losses — Gather all statements, receipts, and communications
- Consult a fraud attorney — You may be able to recover funds through legal action or class action
- File with law enforcement — Report to local police, FBI (for wire fraud), and your state AG
- Report to the FTC — File at ReportFraud.ftc.gov
- Contact the SEC/CFTC — If securities or commodities fraud is involved
- Check for class actions — Search for existing lawsuits you may be able to join
Why This Matters for the Industry
The Regal Assets fraud, combined with the collapse of companies like Gold Alliance, represents a watershed moment for the Gold IRA industry. It demonstrates why independent verification, regulatory oversight, and due diligence are critical.
The lesson: marketing, celebrity endorsements, and review site rankings can all be manipulated. The only reliable indicators are:
- Long-term operational history (10+ years)
- Clean regulatory record (no settlements, judgments, or AG actions)
- Low complaint volume relative to transaction volume
- Transparent fee structures
- Direct verification with custodians and depositories
How to Protect Yourself Going Forward
Due Diligence Checklist
- ☐ Verify BBB history — Not just current rating, but complaint trends over time
- ☐ Search for regulatory actions — State AG, CFTC, SEC, DFPI databases
- ☐ Check court records — PACER for federal cases, state court searches
- ☐ Verify custodian directly — Call the custodian to confirm the dealer relationship
- ☐ Request storage verification — Get proof your metals exist at the depository
- ☐ Test buyback — If making large purchases, test small buyback first
- ☐ Avoid "exclusive" products — Stick to standard, liquid bullion