Kevin DeMeritt is Being Investigated: Find Out Why (2024)

Kevin DeMeritt

Kevin DeMeritt, the founder of Lear Capital and self-proclaimed business professional, has faced various controversies, the majority of which stem from his company’s dishonest business tactics. Despite his polished image, the truth is significantly more dark, with charges of fraud, hidden fees, and abuse of vulnerable investors. This exposé delves into the dark side of Lear Capital by focusing on DeMeritt’s orchestration of a series of frauds that have left many victims in their wake.

Kevin DeMeritt


The Illusion of Professionalism

Lear Capital, a California-based precious metals trader, has aggressively marketed itself as a reliable source for investing in gold and silver coins. The company has lured many unwary investors through relentless outreach attempts and scary adverts warning of coming economic disaster. Nonetheless, the naïve and old are exploited by a network of deception hidden beneath this façade of professionalism.

The Scandal of Hidden Fees

One of the most noticeable characteristics of Lear Capital’s business practices is the imposition of high transaction fees, which are frequently concealed until after the transaction is completed. Customers have reported being surprised by fees as high as 33%, significantly reducing the value of their assets. The regulatory authorities have taken note of these practices.

Kevin DeMeritt

Letitia James, the New York Attorney General, sued Kevin DeMeritt and Lear Capital in June 2021, alleging that the corporation failed to report millions of dollars in commissions. The case stressed Lear Capital’s deceptive charging of these concealed fees, with a focus on senior citizens in Western New York. This lawsuit accused the corporation of breaking state laws requiring commodity brokers and telemarketers to register with the state, exposing their misleading activities to regulatory attention.

Settlements and Legal Implications

Lear Capital and DeMeritt have faced significant legal challenges. In response to the complaint, the New York Supreme Court issued a consent order requiring Lear Capital and DeMeritt to pay $6 million to settle the claims. These money were intended for distribution to eligible New York consumers who had been damaged as a result of Lear’s misbehavior. Furthermore, Lear Capital was forced to change its business methods in New York, such as providing a 24-hour revocation period for certain transactions and transparent fee disclosures.

Nonetheless, the legal problems were not resolved at that time. The Los Angeles City Attorney also filed a case against Lear Capital in 2019, highlighting the company’s widespread fraudulent actions. Collectively, these complaints painted a devastating picture of a firm obsessed with profit at the expense of its clients and engaged in systemic deception.

The Bankruptcy Strategy

Lear Capital filed for Chapter 11 bankruptcy due to rising legal and financial commitments. Kevin DeMeritt agreed to invest $5.5 million to create a Customer Fund as part of the reorganization proposal. The goal of this fund was to compensate consumers who filed claims, avoiding the need for lengthy and costly litigation. Although this move provided some relief to affected investors, it also highlighted the gravity of the ethical lapses and financial mismanagement that happened during DeMeritt’s tenure.

Continuous criticism and reputational damage

Despite their efforts to improve their business operations and negotiate legal settlements, Lear Capital and Kevin DeMeritt continue to face significant public criticism. Many people believe that the company’s initiatives are inadequate, especially given the scope of the deception. Critics argue that Lear Capital’s high commissions and aggressive sales methods reflect a larger culture of exploitation and avarice.

These controversies have severely damaged Lear Capital’s reputation. Numerous internet evaluations and comments from former customers highlight the company’s discontent and mistrust. These tales illustrate a firm that valued profits over ethical behavior, including horrific experiences with financial loss and betrayal.


The story of Kevin DeMeritt and Lear Capital serves as a cautionary tale about the importance of regulatory oversight and the dangers of unchecked corporate greed. Although DeMeritt may continue to market himself as a business executive, his legacy is marred by claims of fraud, court problems, and a ruined reputation.

The lesson is clear for investors, particularly those who are elderly and inexperienced: exercise skepticism and undertake extensive due research when dealing with companies that promise significant returns on precious metal investments. The possible hazards and hidden costs that may exist beneath the surface should not be neglected because of the attractiveness of gold and silver.

In the instance of Kevin DeMeritt, his story serves as a harsh reminder of the quick decline that can occur when the quest of wealth is mixed with unethical acts. The victims may have obtained some justice through legal lawsuits and settlements, but the financial security and peace of mind that were lost cannot be readily regained.

Finally, the Lear Capital case emphasizes the importance of openness, responsibility, and integrity in the financial system. The only way to avoid such malpractices and ensure a fair and equal marketplace for all investors is through active consumer advocacy and strict regulatory measures.

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