Is Liquidity Gold Trust Scam? Texan Authorities Issue Cease & Desist Order

Is Liquidity Gold Trust scam or reliable? Texas securities commissioner has issued a cease and desist order to stop South African firms from fraudulently recruiting Austin residents to participate in a cryptocurrency credit card scheme.

August 15, 2020 | AtoZ Markets – Texas Securities Commissioner Travis J. Iles on Friday entered an emergency cease and desist order to stop South African firms from fraudulently recruiting Austin residents to participate in a cryptocurrency credit card scheme.

Is Liquidity Gold Trust scam or reliable?

The cease and desist order targets Lance Angus Jerrard and his companies, Liquidity Gold Trust, Liquidity Gold Solution LLC, as well as Liquidity Global Card Solution (PTY) LTD. Authorities accuse the company of running advertisements on 590 AM KLBJ Radio. This radio station broadcasts in Austin, Texas, and promotes the crypto scheme. 

The cease and desist order also accuses the South African company of promoting the crypto scheme through internet websites and social media, such as Facebook, LinkedIn, and Twitter. Their pitch is built on cutting-edge blockchain technology and cryptocurrencies.

According to the order, the companies are promoting the Liquidity Card, claiming it is a Mastercard that functions like a traditional debit card. The Liquidity Card, however, works with stablecoins. These are cryptocurrencies pegged to fiat money or other assets to minimize price volatility. However, in this case, the Liquidity Card purportedly works with USD Coin, TrueUSD Coin, and PAX Coin.

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Crypto scams surge amid covid-19 pandemic

Crypto scams continue to rise amid the global pandemic across countries. Earlier, the Attorney General of California issued a warning against the rise of crypto scams amid the covid-19 pandemic. California’s Attorney General Xavier Becerra tweeted:

“Fraudsters often rely on the excitement of innovative industries to persuade people to offer up their cash in hopes of earning far more in return.”  

There are several types of crypto scams that have become frequent. They include fake giveaways, sextortion, fake exchanges, fake ICO’s, bitcoin recovery, video scams, as well as pyramid schemes. For example, accounts of several famous people on Twitter were hacked to solicit bitcoins from their followers.

Think we missed something? Let us know in the comment section below.

  1. Anonymous says:

    I have been tracking their website and found nothing suspicious of anything that pauses a threat. I think we will hear after the 30 days they were given and see what outcome they produced to convince the Texas authorities.

  2. brian says:

    thank you for the article. Two of the podcasts that I have followed for years recently interviewed Lance Jerrard, CEO of Liquidity Card Solution. I've checked out the company website and had multiple phone conversations with their office. I have researched the company and could not find any negative reviews, complaints or other red flags to suspect this company is perpetrating a scam. I have reached out the the Texas Securities Commissioner to find out what evidence he has uncovered about this company that would prompt him to execute a cease & desist order. If you have any supporting information I would really appreciate it.


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