‘Precious metal scam’ Scot on FBI’S most wanted list

A SCOTSMAN has been added to the FBI’S “most wanted” list for his suspected involvement in a precious metals scam.

James Ward, 65, a securities broker from Glasgow, is alleged to have taken $400,000 (£314,000) from would-be investors in gold, silver and platinum.

The FBI said 12 or more people parted with money, but no precious metals were supplied. He went on the run after being charged in Florida with wire fraud in 2012, following the allegedly fraudulent transactions between September 2007 and March 2010.

His “Wanted” poster on the FBI website describes him as 5ft 8in and 11st. His hair, it says, is blond but warns he “may change [its] colour frequently”. It adds: “Ward allegedly operated an entity called Kastle & Hawk Inc, which solicited investors to buy precious metals such as gold, silver and platinum on a leveraged basis. Instead of investing the approximately $400,000 Ward received from at least 12 investors, Ward allegedly used the money for his own personal use and benefit.”

The FBI says Mr Ward, who spent time living in Florida, may travel to the UK, Canada and Mexico.

He is the second Scottish-born alleged fraudster to be added to the list in three years. In 2015, Afzal Khan, originally from Edinburgh, was accused of carrying out allegedly fraudulent activity while running a luxury car dealership in New Jersey. The FBI alleged one financial institution was left exposed to more than $1.7million in loans.