The reputation of the Federal Bureau of Investigation (FBI) has been severely tarnished in recent years. The following won't to anything to restore its luster, but quite the opposite, unfortunately.
From CoinWeek:
Civil forfeiture is a controversial tactic of government and law enforcement agencies. Your property can be taken without criminal charges levied against you, and it’s up to the Government to decide when (or if) you get it back.
But two people in the Los Angeles area–people who might be considered typical bullion customers and investors in precious metals–are fighting back against this policy in a court of law, with the help of a lawsuit filed by the non-profit Institute for Justice.
Don Mellein, a 79-year-old retiree, and Jeni Pearsons are accusing the FBI (Federal Bureau of Investigation) of losing or stealing their gold and silver coins after the business where they stored the precious metal was raided on March 22, 2021. Neither were accused of any crime.
U.S. Private Vaults, based in Beverly Hills, California, had been under investigation by the FBI for knowingly renting safe deposit boxes to certain customers who then used the boxes to store illegal drugs. The warrant authorizing the raid focused on the company itself and explicitly excluded the seizure of boxes belonging to private customers. The FBI assured the issuing judge that any property taken from uninvolved customers would be held merely for “safekeeping” until such time that the agency could properly return it to the rightful owners. Drugs were indeed found – along with cash, firearms, gold, silver, jewelry, and other valuables.
All told, around 1,400 customers of U.S Private Vaults had their property seized. These customers (including Mellein and Pearsons) all received the same form letter informing them about the civil forfeiture of their property.
There is much more to this story, including a class-action lawsuit. To read more, go here.
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