News Release

ATTENTION INVESTORS:, Tower Equity, Chase Metals, and Barrick Capital Receivership Claim Deadline April 30, 2021

For Immediate Release | 3-15-2021

Media Contact | Nick Debus

Direct |  602-542-0728

E-Mail |

PHOENIX - The Arizona Corporation Commission, along with other state regulators and the Commodity Futures Trading Commission, recently filed a joint civil enforcement action against, Tower Equity, Chase Metals, Barrick Capital and other associated parties. We accused the defendants of perpetrating a fraudulent precious metals investment scheme. The case is significant as it allegedly involves 1600 investors and more than $185 million in customer funds.

The United States District Court for the Northern District of Texas entered an injunction and a restraining order freezing the assets of the defendants. It also appointed Kelly Crawford as Receiver—an official responsible for marshalling assets of the defendants for the benefit of defrauded clients.

The Receiver will begin administering the claims process and returning money to defrauded clients. As part of the process, he will be sending correspondence, instructions, and a claims form. Defrauded clients must complete and return their claims forms to the Receiver to participate in the claims process and request a return of money. THE DEADLINE TO RETURN THE CLAIM FORM IS APRIL 30, 2021. 

The Securities Division of the Arizona Corporation Commission continues to fight to protect senior citizens and other victims. We are committed to holding bad actors accountable for their actions and pursuing relief for victims of illegal scams. We are therefore encouraging defrauded clients to promptly begin working with the Receiver to request a return of funds.

Defrauded clients should direct questions about the claims process to the Receiver. They can contact the Receiver by email at or by telephone at (214) 706-4213. The Receiver also maintains a website that provides information about the claims process, and it is accessible at

The Securities Division of the Arizona Corporation Commission can also provide additional information and explanation relating to the allegations of fraud, the lawsuit, the receivership, and the claims process. The Securities Division can be reached by telephone at (602) 542-4242 or email at

State securities regulators are committed to making sure that any available funds are distributed to the victims. The Arizona Corporation Commission Securities Division stands ready to assist defrauded investors as they navigate the claims process and request a return of money.

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