Regal Assets Review (2026): How a Popular Gold IRA Company Ended in a Fraud Case
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Regal Assets in One Minute
Regal Assets was once a widely promoted precious metals and gold IRA company, with offices in Beverly Hills, California and Waco, Texas. On September 28, 2023, the CFTC and California's Department of Financial Protection and Innovation announced a joint civil action alleging the company's leaders misappropriated more than $21 million in a nationwide scheme.
According to the complaint, most of the money came from customers' tax-deferred retirement accounts, including IRAs, 401(k)s and the Thrift Savings Plan, sent to buy precious metals through self-directed IRAs from about November 2019 to October 2022.
| Company | Regal Assets (no longer operating) |
|---|---|
| Offices | Beverly Hills, California and Waco, Texas |
| Regulators | CFTC and California DFPI |
| Announced | September 28, 2023 |
| Alleged misappropriation | More than $21 million |
| Period | About November 2019 to October 2022 |
| Source of funds | Mostly retirement accounts |
What the CFTC Alleged
- Customers paid for precious metals, mostly with retirement savings, through self-directed IRAs.
- Customer funds were allegedly used for business expenses, salaries and bonuses, a video gaming business and a Beverly Hills home.
- Funds were allegedly also used to pay down loans of more than $6 million and to make Ponzi-like payments.
The Lesson: Verify Delivery
When you buy metals through a self-directed IRA, the custodian holds the account, but the dealer sources and ships the metals. If a dealer takes payment and doesn't deliver, your custodian may not catch it right away. That's why you should confirm, on custodian or depository statements, that the specific metals you paid for have arrived.
- Pay only through your custodian's documented process.
- Request a depository receipt listing your metals.
- Check custodian statements after every purchase.
- Escalate quickly if metals don't appear.
- Report problems to the CFTC and your state regulator.
Learn more in our guides to gold IRA custodians and depositories.
If You Were a Regal Assets Customer
Collect your invoices, wire records and custodian statements, and contact the CFTC and California DFPI about the case. Avoid paid "recovery" services that promise to get your money back for an upfront fee.
Choosing a Company Today
Look for established companies with published fees, clear storage arrangements and a track record. Our top pick, Augusta Precious Metals, offers a free guide on dealer tactics; our budget pick Noble Gold starts at $20,000.
How Dealer Failures Affect IRA Owners
A self-directed IRA separates roles: the custodian holds the account and the depository holds the metal, but the dealer controls the purchase. If a dealer takes your money and doesn't buy or ship the metal, the custodian may record the payment while the depository has nothing to store for you. That gap is what makes verification so important. Ask your depository for a holdings statement listing each product by name and weight, compare it with your invoice, and check it again every year.
Is Regal Assets a Scam?
The CFTC and California regulators alleged that more than $21 million was misappropriated. The company no longer operates. Treat any outreach claiming to represent it with suspicion.
Pros and Cons
What Stands Out
- None for buyers; no longer operating
What to Weigh Up
- Charged by the CFTC and California DFPI
- Alleged misappropriation of $21 million+
- Mostly retirement savings involved
Frequently Asked Questions
What Happened to Regal Assets?
The CFTC and California DFPI filed charges in September 2023 alleging misappropriation of more than $21 million.
Is Regal Assets Still in Business?
No; the CFTC described it as a former California company.
Where Did the Money Come From?
Mostly customers' IRAs, 401(k)s and Thrift Savings Plans.
How Can I Avoid This?
Confirm delivery of metals on depository and custodian statements after each purchase.
Our Verdict on Regal Assets
A warning about verifying delivery. Always confirm your metals are actually in storage.
Precious metals prices can fall as well as rise, and a gold IRA carries setup, custody and storage fees. This page is general information, not financial, tax or legal advice. Consider speaking with a licensed financial professional before moving retirement savings.
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