gold, page-48827

Martin Armstrong's made lots of spurious predictions about economic collapse, blood in the streets, bank crashes and $5,000 gold, none of which have come true of course. Armstrong also admitted his guilt that resulted in a lengthy jail sentence. So you're quite wrong saying Armstrong was railroaded.

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In 1985 Armstrong was found to have violated Commodity Futures Trading Commission regulations by failing to register as a commodity trading advisor, failing to deliver required disclosure documents to clients, and failing to maintain proper records.

 In 1987 one of Armstrong's trading entities, Economic Consultants of Princeton Inc., was charged with failing to disclose a commission sharing agreement, and another of his entities, Princeton Economic Consultants Inc, was charged with misrepresenting hypothetical performance results and omitting a required disclaimer in advertisements.
 The penalties levied banned Armstrong and his companies from trading for twelve months, revoked their registrations, imposed cease-and-desist orders, and levied civil penalties totalling fifty thousand dollars.

In 1999, Japanese fraud investigators accused Armstrong of collecting money from Japanese investors, improperly commingling these funds with funds from other investors, and using the fresh money to cover losses he had incurred while trading. United States prosecutors called it a three-billion-dollar Ponzi scheme. Allegedly assisting Armstrong in his scheme was the Republic New York Corporation, which produced false account statements to reassure Armstrong's investors. In 2001, the bank agreed to pay US$606 million as restitution for its part in the scandal.Armstrong was indicted in 1999 and ordered by Judge Richard Owen to turn over fifteen million dollars in gold bars and antiquities bought with the fund's money; the list included bronze helmets and a bust of Julius Caesar.

Armstrong produced some of the items but claimed the others were not in his possession; this led to several contempt of court charges brought by the SEC and the CFTC, for which he served seven years in jail until he reached a plea bargain with federal prosecutors. Under the terms of the agreement, Armstrong admitted to deceiving corporate investors and improperly commingling client funds—actions that according to prosecutors resulted in commodities losses of more than seven hundred million dollars—and was sentenced to five years in prison.He was released from federal custody on 2 September 2011 after serving a total of eleven years behind bars.


https://en.wikipedia.org/wiki/Martin_A._Armstrong