Precious Metals Broker Indicted Accused of Theft

PHOENIX - Attorney General Mark Brnovich announced a State Grand Jury indicted Keith Bresee for one count of Fraudulent Schemes and Artifices and 20 counts of Theft. Bresee is accused of stealing more than $1,000,000 from clients who invested in precious metals.

Bresee was a precious metals broker operating Bresee Group, LLC and Liberty Precious Metals. It is alleged between August 2011 and March 2015, Bresee solicited clients at precious metals investment seminars held at hotels and restaurants in Arizona. A total of 19 victims invested with Bresee. Many of the victims, who are in their 50's, took money from their retirement savings to invest.

According to investigators, Bresee did not purchase precious metals with his clients’ money. Instead, he is accused of using his clients’ money to fulfill other investment obligations to previous customers and to pay his business and payroll expenses. Many of the victims lost all of the money invested with Bresee.

The total loss to the 19 victims is $1,090,509. This case was initially investigated by the Peoria Police Department and referred to the Attorney General’s Office for further investigation due to violations throughout Arizona and other states.      

Bresee’s arraignment is set for January 9, 2018.

All defendants are presumed innocent until proven guilty in a court of law.

Assistant Attorney General Joseph Waters is prosecuting this case.