The state of Texas issued an emergency cease and desist order against TMTE, Inc., METALS.COM, CHASE METALS, LLC, and CHASE METALS, INC. on May 1, 2019. According to the order, representatives of Metals.com were targeting older adults and advising them to sell their securities and invest in precious metals through a self-directed IRA. The company has been reported for using scare tactics and threats. One of the victims, an 80-year-old Dallas woman, liquidated $850,000 in retirement funds and invested with the company. According to the order, the woman was unaware that Metals.com was moving her money into a self-directed IRA.
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