Highline Gold targeted by FDIC

[pmbug]

PRESS RELEASE | MARCH 19, 2024

FDIC Demands Three Companies Cease Making False or Misleading Representations about
Deposit Insurance​

WASHINGTON — The Federal Deposit Insurance Corporation (FDIC) issued letters demanding three companies and certain associated parties cease and desist from making false and misleading statements about FDIC deposit insurance. The FDIC is demanding that PrizePool, Inc. (PrizePool), AmeriStar, LLC (AmeriStar), and HighLine Gold, LLC (HighLine Gold) take immediate corrective action to address these false or misleading statements. In the case of AmeriStar and HighLine Gold, the FDIC has reason to believe these companies are related entities sharing several of the same principals and the same physical address, and therefore, issued a joint letter to them.

Based upon evidence collected by the FDIC, these companies and certain associated parties made false representations by: (1) stating or suggesting they are FDIC-insured or that certain uninsured financial products are insured by the FDIC; (2) misusing the FDIC name or logo; (3) misrepresenting the nature or extent of deposit insurance; and/or (4) failing to clearly identify the insured depository institutions with which they have a relationship for the placement of customer deposits and into which funds may be deposited. The evidence suggests these misrepresentations are causing harm, or have the potential to cause harm, to consumers.
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Press Release: FDIC Demands Three Companies Cease Making False or Misleading Representations about Deposit Insurance

content.govdelivery.com

I looked at the Highline Gold website and was not very impressed. They are offering some sort of gold vaulting service:

Products | Highline Gold

www.backedgold.com

 

[nickndfl]

I would suspect that if things went really bad or really good that the principals would take everything for themselves and fly away to a country with no extradition to the US.