Business ProfileforLiquid Assets Empire
Current Alerts For This Business
On April 26, 2019, Aaron Michael Scott was sentenced in the U.S. District Court in Tacoma to four years in prison. On November 1, 2018, Scott plead guilty to Wire Fraud in violation of Title 18, United States Code, Section 1343.
Scott was indicted in October 2018 following state and federal investigations of his internet precious metals business, Blue Moon Coins. He began defrauding silver and gold purchasers as early as October 2013 and continued until Blue Moon Coins was shuttered by the Washington State Department of Financial Services in April 2014.
According to the indictment, between October 2013 and April 2014, Scott repeatedly accepted customer money for the purchase of precious metals and coins and then used the money for his personal, company, and hobby expenses. Scott represented to customers that the money would be used immediately to purchase the coins and metals, but, instead, it was used for expenses or to fulfill earlier customer orders in the form of a Ponzi scheme. When customers complained about the delay in receiving their items, Scott used a plethora of excuses such as: weather delays, a supplier had gone bankrupt, a corporate buyout, ice and snow, delayed armored truck delivery, and a bad flu season.
For more information, please contact the U.S. Attorney’s Office for the Western District of Washington at www.justice.gov/usao or (206) 553-7970.
Additional business information
The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved. We are providing a summary of the governments allegations, which have not yet been proven.
On April 18, 2014, the Securities Administrator of the State of Washington issued a statement of charges and notice of intent to enter order to cease and desist and impose fines against respondents BMC Worldwide Inc. dba Blue Moon Coins, Aaron Scott, Jamaal Brown, Affordable Precious Metals LLC, and Liquid Assets Empire.
According to the statement of charges, respondents allegedly offered and sold precious metal bullion to investors all over the country and failed to deliver the precious metals. It is further alleged that the respondents violated the commodity transactions section of the Commodity Transaction Act of Washington, by selling a commodity contract that was not exempt under Washington state law.
The securities administrator intends to order that respondents, BMC Worldwide Inc dba Blue Moon Coins and Aaron Scott, shall be jointly and severally liable for and pay a fine of $50,000. Payments of the fine is to be deferred until the BMC customers receive their order or a full refund.
Additionally, the securities administrator intends to order that respondent Jamaal Brown, shall be liable for and pay a fine of $2,500.
On June 10, 2015, the State of Washington Department of Financial Institutions Securities Division entered into a consent order with respondent Jamaal Brown. Without admitting or denying these allegations, respondent agreed to cease and desist from violating the Commodity Transactions Act and agreed to pay a fine of $1,000. Respondent waived his right to a hearing and judicial review of this matter.
For more information, please contact the Securities Division of the Washington Department of Financial Institutions at (360) 902-8760 or http://www.dfi.wa.gov/securities.
At-a-glance
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Business Details
- Location of This Business
- Vancouver, WA 98684-4044
- BBB File Opened:
- 3/13/2014
- Business Started:
- 2/17/2009
- Business Started Locally:
- 2/17/2009
- Licensing Information:
- This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.
- Type of Entity:
- Sole Proprietorship
- Alternate Business Name
- Liquid Assets
- Liquid Assets Jewelry
- Liquid Assets Recordz
- Business Management
- Mr. Aaron Scott, Owner
- Contact Information
Principal
- Mr. Aaron Scott, Owner
Customer Contact
- Mr. Aaron Scott, Owner
- Additional Contact Information
Phone Numbers
- (888) 423-3688Other Phone
- (888) 423-3688
Customer Complaints
0 Customer Complaints
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