AG Brnovich Obtains $2.8 Million Judgment Against Precious Metals Dealer

PHOENIX - Attorney General Mark Brnovich announced his office obtained a $2.8 million judgment against Keith Bresee, the owner of Liberty Precious Metals, LLC and Bresee Group, LLC. Bresee is accused of operating a precious metals scam out of Maricopa and Yavapai counties. The court ordered Bresee to pay $2.25 million in consumer restitution and $560,000 in civil penalties.

In 2016, the Attorney General’s Office filed a consumer fraud lawsuit against Bresee and his companies. According to the lawsuit, Bresee accepted millions of dollars in prepayments from clients who wanted to invest in metals. Bresee allegedly took the prepayments but did not buy the precious metals as promised.

Consumers discovered their orders would not be fulfilled after Bresee closed his businesses and filed for bankruptcy in 2015. According to the recently obtained judgment, Bresee falsely told some consumers that their precious metals, mostly gold, had been purchased and were safely stored at a secure facility.

The Attorney General obtained the default judgment after Bresee voluntarily waived his right to a bankruptcy and withdrew his answer to the State’s lawsuit. The judgment also prohibits Bresee from selling precious metals to Arizona consumers and operating a business that sells precious metals in Arizona.   

This case is being handled by Assistant Attorney General Mitchell Allee. The criminal case against Bresee is ongoing.

If you believe you have been the victim of consumer fraud, you can file a consumer complaint by contacting the Attorney General’s Office in Phoenix at (602) 542-5763, in Tucson at (520) 628-6648, or outside the Phoenix and Tucson metro areas at (800) 352-8431. Consumers can also file complaints online by visiting the Attorney General’s website.