Florida couple ordered to pay $3M in metals fraud case - Fox29 WFLX TV, West Palm Beach, FL-news & weather

Florida couple ordered to pay $3M in metals fraud case

FORT LAUDERDALE, Fla. (AP) — A South Florida couple has been ordered to pay nearly $3 million in penalties and restitution for operating a fraudulent precious metals business.

A federal judge issued the order recently against Cindy and Paul Vandivier of Coconut Creek, Florida.


They operated a company called Mintline that solicited customers across the U.S. to invest in precious metals from July 2011 to April 2013.

The Commodity Futures Trading Commission says instead of doing a legitimate metals investment business, the Vandiviers diverted nearly $1 million in customer money for their own personal expenses.

The judge's order requires the Vandiviers to pay a combined $2 million in civil penalties and nearly $1 million in restitution to customers. The CFTC says it's not clear whether they have the money to repay customers.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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