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Federal Court Finds Former Precious Metals CEO Robert Escobio in Contempt of Court for Failure to Pay Restitution to Defrauded Customers

April 5, 2019

The U.S. Commodity Futures Trading Commission (CFTC) announced today that on March 18, 2019, District Judge James Lawrence King of the U.S. District Court for the Southern District of Florida entered an order finding Coral Gables, Florida resident Robert Escobio in contempt (“Contempt Order”) for failing to pay more than $1.5 million in previously-ordered restitution to defrauded customers of Mr. Escobio’s now-defunct precious metals firm, Southern Trust Metals, Inc. (“Southern Trust”).