Five Arrested in South Florida Precious Metal Scam

Five Arrested in South Florida Precious Metal Scam

Five Arrested in South Florida Precious Metal Scam 150 150 Rex Securities Law

November 15, 2014-Broward County, Florida- The Sun Sentinel reports that five suspects were arrested in a scheme targeting seniors who believed they were purchasing interests in gold, silver, platinum and palladium for investment.

Those arrested are:

  • John A Cavallo, 39, Jupiter FL
  • Allen Franks, 72, Boynton Beach, FL
  • Colin A Smith, 37, Pompano Beach, FL
  • Danny M Reynolds, 43, Greenville, SC
  • Cheryl Ann Woods, 37, Greenville, SC

Charges against those accused are racketeering  grand theft, fraudulent securities transactions and money laundering.  Robert S. Leier, 59, of St. Paul, Minnesota remains at large.

The Attorney General’s Office reports that the group operated the scheme using these companies:

  • Bowman & Poole
  • Cavallo Consulting Group
  • DMR & BMR Corp.
  • DRBR Financial
  • JD&A Investment Services
  • JDC United Metals
  • Project Insider Development Investments
  • Project Insider


Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900

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