TGI Raid in Liechtenstein: What the Case Reveals About the Risks of Buying Gold
June 5, 2026
On June 4, 2026, it became known that investigators from the Liechtenstein Public Prosecutor's Office searched the corporate headquarters of TGI AG in Vaduz. The investigators are examining suspicions of "commercial serious fraud," "money laundering," and a "violation of the Banking Act." At the same time, the presumption of innocence expressly applies.
Such news strikes a chord because precious metals are often perceived as a "safe haven" in uncertain times. Simultaneously, the case shows that the raw material itself is not the risk, but rather the structure through which people buy gold. For gold can be physically solid, and yet purchase models, payment methods, or contractual constructions can create risks that have little to do with the price of the metal.
The timing coincides with a phase in which the precious metal markets are moving strongly again. On June 4, 2026, the gold price per troy ounce was around 4,479 US dollars or approximately 3,857 euros, with a daily high around 4,515 US dollars. This makes gold both visible and desirable: many people follow the price, look for "favorable" entry points, and encounter models that appear exceptionally attractive on paper.
This is precisely where the psychological trap lies: if the price or the discount looks "too good," the focus quickly shifts away from the crucial questions. Who is storing the metal? When will it be delivered? Which supervisory authority is responsible? And what happens if something does not go according to plan?
Media reports describe that TGI worked with extreme discounts and waiting times in recent months. Customers were reportedly expected to wait up to three years for delivery in some cases, while monthly discounts were to be distributed during this time.
In parallel, supervisory authorities intervened. In Germany, BaFin prohibited two specific models ("Customer Basic 2 Percent" and "Customer Basic 2 Percent + Loyalty Discount") according to its own publication, citing the Investment Act and missing prospectus requirements. The Liechtenstein FMA also ordered the immediate cessation of sales and public offering of certain products, according to Handelsblatt, justifying this with the allegation that these were deposit-taking businesses without the required authorization.
It is important to note: this is not an assessment of how a proceeding will end. However, it is a very concrete signal of which questions buyers should ask more consistently in the future before transferring money.
Many people follow a simple logic when buying gold: the gold price is transparent, so the offer is also transparent. This is precisely the error. The spot price is transparent. The construct that stands between the buyer and the metal is often non-transparent.
A discount of "up to 72 percent" below the market price is not just "cheap." It requires an explanation. Media reports indicate that such discount messages were a hallmark of TGI's communication. The larger the promise, the more important the question becomes as to which value creation finances it and whether the contractual commitments are compatible with a standard precious metal supply chain.
Those who buy precious metals typically want two things: protection against loss of purchasing power and a piece of independence. However, this only succeeds if the buying process itself is robust. Therefore, a verification logic that relies less on advertising and more on verifiable facts is worthwhile.
The following overview separates events and their significance for consumers. It does not replace legal advice but helps in asking the right questions.
| Observation from reporting | What this means practically for buyers |
|---|---|
| Search in Vaduz, investigations into suspected fraud/money laundering, presumption of innocence applies | In ongoing investigations, settlement and reputational risk increases; documents, evidence, and delivery promises should be examined particularly critically. |
| BaFin prohibits certain models in Germany due to violation of prospectus requirements | Check whether an offer could be legally constructed as an investment/deposit; in case of uncertainty, the risk of sales bans or reversals increases. |
| FMA reportedly orders the cessation of certain products | The responsible supervisory authority at the company's headquarters is a hard factor; buyers should understand which authority is responsible for what and what consequences orders can have. |
| Three-year waiting period plus monthly "2%" logic is publicly described | Long delivery periods shift risk from the metal to the interim period: counterparty risk, liquidity risk, dispute over contract interpretation. |
It becomes even more concrete with a checklist table based on typical stumbling blocks of online gold purchases.
| Verification question before purchase | How to recognize a reliable answer |
|---|---|
| Is it clear whether it is a purchase agreement, storage, or an investment product? | Contract documents are unambiguous; terms like "discount," "loyalty bonus," "repayment" are legally correctly classified; prospectuses/information sheets are comprehensible. |
| When exactly does delivery take place and what are the conditions? | Concrete delivery date or clearly defined period, realistic delivery logic, verifiable evidence of stocks or procurement. |
| Where is the metal located, and who is the custodian? | Named custodian/depository, verifiable storage location, comprehensible audit logic; no purely promotional statements. |
| How is payment made, and what securities exist until delivery? | Transparent payment flow, no constructs that act like deposits; clear regulations for withdrawal, delay, insolvency. |
| Does the price promise match market reality? | The more extreme the discount, the better the explanation must be; "too good" is a signal, not automatically an advantage. |
Precious metals are not a "get rich quick" topic. They are a stability component. This is exactly why the buying process should be as boring, transparent, and verifiable as possible.
The spar.gold principle is simple: it is about physical gold and silver, with a transparent process and without constructs that shift the risk from the metal to a promise. The price is a signal. The structure behind it is the reality.
Stay far-sighted
Yours, Helge Peter Ippensen