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Oxford Gold Group is a scam gold IRA company. Dozens of former customer lost their life’s savings through this company’s machinations.
Read on below to learn what really happened to Oxford Gold Group. Otherwise, contact this gold IRA company if you’re looking to invest in precious metals. They’re my number #1 pick for precious metal diversification and gold IRAs and they’re the best option if you live in the USA.
The 14+ years of excellent service testify to this company’s legitimacy.
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Table of Contents
What Happened to Oxford Gold Group?
Oxford Gold Group ceased operations in August 2024 following numerous fraud allegations. Customers reported transferring thousands in retirement savings to purchase precious metals that were never actually placed in depositories as promised.
The company became unresponsive to customer inquiries and complaints, leading the Better Business Bureau to revoke their accreditation in June 2024 and assign them an “F” rating. Their website was ultimately shut down as the allegations mounted.
What appears to have been a legitimate precious metals investment company ultimately collapsed amid what looks like a significant fraud that left many investors without their retirement funds or the gold they purchased.
Don’t to business with Oxford Gold Group. They’ve been scamming people out of their retirement savings and plenty of lawsuits are being filed against them as of today.
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Oxford Gold Group Lawsuits
Oxford Gold Group lawsuits are aplenty now that they’ve been outed as a scam gold IRA company.
I picked a and detailed a handful of these lawsuits below, but click here to learn what really happened to Oxford Gold Group.
Lawsuit 1- CONSUMERS UNIFIED, LLC VS OXFORD GOLD GROUP, INC.
On June 21, 2022, Consumers United, LLC filed a lawsuit for breach of contract against Oxford Gold Group, Inc. in the Los Angeles County Superior Court, Stanley Mosk Courthouse. The judge presiding over the case is Kevin C. Brazile. The current status of the lawsuit is pending resolution.
Lawsuit 2- UNITED STATES OF AMERICA, Plaintiff, v. TYLER MANCUSO, Defendant.
Note: this second lawsuit isn’t anyone suing Oxford Gold Group. Instead, it’s them being involved in a trial to recover some funds they’re owed.
Oxford Gold Group Inc. filed a verified petition claiming rightful ownership of $430,778.34 in funds that were seized by the government during an investigation of defendant Mancuso. Company A also filed a verified petition stating that the same $430,778.34 seized by the government should be returned to Company A, arguing they were the victim of Mancuso’s fraud. The government responded that the full $430,778.84 should be awarded to Company A.
A hearing was held on May 11, 2023 in which the parties presented arguments and Oxford Gold’s managing partner Jonathan Adler provided testimony. Oxford Gold also submitted a response brief in support of their petition. On May 18, 2023, the parties filed supplemental briefs – Company A, Oxford Gold, and the government each submitted additional arguments. The court has now fully considered the record and will make formal findings of fact and conclusions of law.
Between September and December 2022, Tyler Mancuso was an employee of Company A, a technology business in Carlsbad, California. In October 2022, Mancuso began manipulating Company A’s payment accounts to determine if he could successfully steal funds.
On October 11th, Mancuso contacted Oxford Gold to inquire about purchasing around $9 million in gold bullion. Over the next six weeks, Oxford Gold communicated with Mancuso about the potential gold transaction, identified the third-party bullion seller Wilshire Coin, and arranged to deliver the gold to Mancuso. Ultimately, Mancuso and Oxford Gold executed a written purchase agreement for the gold.
The agreement was titled “Oxford Gold Group Transaction Agreement” and stated that Mancuso would pay Oxford Gold’s 3.22% service fee. This fee was the difference between Oxford Gold’s wholesale cost and the higher retail price quoted to Mancuso.
On November 2nd, 2022, Mancuso fraudulently changed the payment details to redirect a $9,149,001.65 payment from Company A’s bank account to his personal bank account, thus stealing the funds. A constructive trust benefiting Company A was formed when Mancuso stole the money.
On November 22nd, Mancuso paid Oxford Gold $9,007,578.84 via wire transfer, as part of the gold transaction. On November 23rd, Oxford Gold sent $8,576,800 to the third-party bullion seller Wilshire Coin. Oxford Gold’s spread or profit was $430,778.84.
The record shows Oxford Gold entered into an arms-length transaction with Mancuso, with no reason to believe the funds were from illegal activity. By brokering the gold sale between Mancuso and Wilshire Coin as outlined in their agreement, Oxford Gold earned their fee and is considered a good faith purchaser for value.
As a good faith purchaser, Oxford Gold has a superior claim to the disputed $430,778.34 compared to Company A. However, equitable considerations are still relevant in determining who ultimately receives the funds. After weighing the equities, the Court finds Oxford Gold should receive $290,044.04 – the amount it reasonably expected to earn from the transaction.
The government must submit an amended forfeiture order consistent with this ruling.
Lawsuit 3- Golden Bull LLC v. Oxford Gold Group, Inc.
Golden Bull LLC sued Oxford Gold Group because of trademark infringement. The case is still pending and no verdict is reached. There’s very little info online about this lawsuit. I’ll update my guide once more info is available and the verdict is reached.
Oxford Gold Group Negative Customer Reviews and Complaints
Oxford Gold’s reputation is permanently destroyed and all of their reviews are negative. Below I selected a handful of these reviews, but know there’s more where that came from.
Here’s someone complaining their previous metals didn’t arrive on time. The metals were late for several weeks and the response from the OGG staff wasn’t up to par.
Here’s someone complaining the Oxford Gold Group staff were unavailable to answer their queries. This former customer feels cheated and dejected.
Here’s a client complaining their precious metals shipment hasn’t arrived in the depository they chose even after a lot of time passed. The client is worried and has contacted Oxford Gold Group for help.
Oxford Gold Group Negative Reviews and Customer Complaints #goldira #silverira #nikolaroza Share on XIs Oxford Gold Group Legit, Safe and Secure to Work With?
No, Oxford Gold Group aren’t legit. They’re a scam.
Recently they’ve been found to have defrauded dozens of their customers stealing millions in the process. There are far too many lawsuits angry customers filed against Oxford Gold Group for anyone to feel comfortable working with them.
Best Oxford Gold Group Alternatives
Throughout y Oxford Gold review I’ve mentioned several high quality gold investment companies. I’ve mentioned JM Bullion, American Hartford Gold, Birch Gold Group…
Here I want to quickly talk about Augusta Precious Metals and Birch Gold Group. These 2 gold IRA companies are premiere gold investment companies operating in the US market.
Both companies have a wide offering of gold and silver you can buy. Both companies have superb customer support. Both companies have a long tenure of helping America diversify their portfolios with precious metals.
Check out my Augusta Precious Metals review and Birch Gold Group review next.
Oxford Gold Group Review 2025- Is Oxford Gold Group a Scam or Legit (Complaints and Lawsuits Included)- Conclusion
My Oxford Gold Group lawsuit guide is over.
This company is a scam and pyramid scheme and you shouldn’t do business with them. Until they’re proven inocent if it ever happens.
Leave your questions about Oxford Gold Group lawsuits in the comment section below.
And don’t be scammed when buying gold from anyone. Read my real vs fake gold guide next.
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References:
- Looking to Transfer from an Oxford Gold Group IRA? We’re Here to Help!- https://certifiedgoldexchange.com/oxford-gold-group-ira/
- https://securities.ok.gov/Enforcement/Orders/PDF/CV-24-2244_PltfsApptoEnfCompliancewithanOFSandAuthorityinSupport_24-244.pdf
- More complaints emerge about SoCal firm that promised to invest retirement funds in gold- https://abc7.com/post/oxford-gold-group-more-complaints-emerge-beverly-hills-firm-promised-invest-retirement-funds-precious-metals/15161198/
- A San Diego couple thought they’d invested in gold. Instead, they and hundreds of others say they were scammed.- https://www.denverpost.com/2024/08/19/a-san-diego-couple-thought-theyd-invested-in-gold-instead-they-and-hundreds-of-others-say-they-were-scammed/
- Lawyers for alleged gold-scam victims seek involuntary bankruptcy for California firm- https://www.siliconvalley.com/2024/09/05/lawyers-for-alleged-gold-scam-victims-seek-involuntary-bankruptcy-for-firm/?ref=biztoc.com
Nikola Roza
Nikola Roza is a blogger behind Nikola Roza- SEO for the Poor and Determined. He writes for bloggers who don't have huge marketing budget but still want to succeed. Nikola is passionate about precious metals IRAs and how to invest in gold and silver for a safer financial future. Learn about Nikola here.
