Customers of U.S. Private Vaults are suing the FBI over its attempt to confiscate gold and silver, jewelry and $86 million in cash from safe deposit boxes.
Legal Challenges After Feds Seize Safe Boxes In Beverly Hills - Beverly Hills, CA - Five customers at U.S. Private Vaults claim the FBI violated their constitutional rights by seizing their safe boxes as evidence.
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A retired flooring contractor was watching television one night last month when he saw a news report about federal agents raiding U.S. Private Vaults, a store in a Beverly Hills strip mall that let customers rent safe deposit boxes anonymously.
He knew the place well. It’s near his home and, for years, he has rented a long, narrow box there to keep about $60,000 in cash, gold and silver. It also contained the title certificate for his pickup truck.
The 69-year-old man, who declined to be named because of privacy and safety concerns, said he has kept the stockpile of currency and precious metals since getting spooked by the 2008 financial crash. “You never know what’s going to happen, the way the world’s going today,” he said.