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California-based Oxford Gold disappears with assets of hundreds of investors
By Jeff McDonald
San Diego Union-Tribune
Monday, August 19, 2024
With a fickle stock market and broader economic uncertainty around the globe, Howard and Heather Short were looking for a safe harbor for their savings and financial stability.
The San Diego couple settled on gold.
After months of hearing advertisements promoting the Oxford Gold Group on a local talk radio station, the Shorts began transferring chunks of their retirement portfolio to the Beverly Hills company.
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"I thought, it's silver and gold. It's tangible. It's not going to lose value," Heather Short said in a telephone interview. "We did one lump sum from each of our retirement accounts."
Oxford Gold told clients their assets would be deposited with Equity Trust Co., an Ohio firm specializing in so-called self-directed investment accounts focused on precious metals, cryptocurrency, and other alternative assets.
But earlier this year the Shorts and hundreds of other investors received a letter from Equity Trust indicating that the money they directed to Oxford Gold had not been properly recorded. ...
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