This new depository not only enhances the security options available for precious metals storage in the Western United States but also brings additional employment opportunities to the Treasure Valley area. The opening of this depository reflects the growing demand for physical precious metals, driven by concerns over currency debasement and economic uncertainty.
Back in 2021, the federal agents raided U.S. Private Vaults, a private vaulting and safe deposit box company located in Beverly Hills, CA under the suspicion that the owners of the company were involved in money laundering.
More than $86 million dollars in cash and millions of dollars worth of jewelry and other valuable personal items were seized from the rightful owners, most who are innocent of any crimes or wrongdoing.
After two years of legal battles, some customers have managed to recover roughly $25 million in cash taken by the government.