Colonial Metals Group LLC, a West Palm Beach precious metals dealer, faces at least four active lawsuits and a $512,326.74 default judgment tied to allegations that it accepted customer payments for gold and silver that were never delivered. The Colonial Metals Group lawsuits are pending in Florida state court and in the U.S. District Court for the Southern District of Florida, and customers have also been directed to file complaints with federal and state regulators.
Who Colonial Metals Group Is
The company was incorporated in Florida on July 25, 2022, with its principal office at 1401 Forum Way, Suite 310, in West Palm Beach.1Florida Division of Corporations. Colonial Metals Group LLC Detail Paul Stone is listed as the authorized representative on the Florida corporate filing and has described himself as Chairman and CEO.2USA Today. How Paul Stone of Colonial Metals Group Emulates Leadership Capabilities The firm sold precious metals for direct purchase and through self-directed IRAs, using third-party custodians such as Equity Trust Company and The Entrust Group to hold retirement assets.
The Pending Lawsuits
Four cases were on file against Colonial Metals Group as of mid-2026.
Leight v. Colonial Metals Group (Federal, 2026)
John M. Leight filed suit on May 12, 2026, in the U.S. District Court for the Southern District of Florida, originally naming both Colonial Metals Group LLC and Equity Trust Company and alleging breach of contract. Leight voluntarily dismissed Equity Trust on June 3, 2026, and filed a second amended complaint against Colonial Metals Group alone two days later.3PACER Monitor. Leight v. Colonial Metals Group, LLC Et Al
Palitto and Von Gruenigen v. Colonial Metals Group (2025)
Carol Von Gruenigen and Mark Palitto filed suit on November 13, 2025, in Palm Beach County Circuit Court. The plaintiffs alleged they entered into separate “Shipping and Transaction Agreements” with the company, and the case was categorized as an economic and business tort matter.4Trellis.Law. Carol Von Gruenigen, Mark Palitto v. Colonial Metals Group LLC
Petrie v. Colonial Metals Group (2026)
Patricia Petrie filed suit on February 2, 2026, in the Circuit Court of the Fourteenth Judicial Circuit in Gulf County, Florida. Court records indicate a breach of contract claim; full details of the complaint are not publicly available.5Trellis.Law. Patricia Petrie vs. Colonial Metals Group LLC
Barrett v. Colonial Metals Group (2026)
Stephen M. Barrett filed in Palm Beach County Circuit Court on April 2, 2026. Specific allegations and damages sought were not available in public docket records.6Trellis.Law. Stephen M. Barrett vs. Colonial Metals Group LLC
The Genesis Gold Group Default Judgment
Before individual customers began filing suit, a competitor took Colonial Metals Group to court. Genesis Gold Group, a California precious metals company, filed a contract lawsuit against Norrell L. Walker, Colonial Metals Group, and Republican Metal Company Inc. in Los Angeles County Superior Court on February 29, 2024. None of the defendants responded. On September 29, 2025, the court entered default judgment for Genesis Gold Group, awarding $500,000 in damages, $11,470 in attorney fees, and $856.74 in costs, for a total of $512,326.74.7UniCourt. Genesis Gold Group, Inc. vs. Norrell L. Walker, Et Al.
What Customers Are Alleging
Colonial Metals Group holds an F rating from the Better Business Bureau, driven by the company’s failure to respond to 12 of the 14 complaints filed against it over a three-year period. The company is not BBB accredited.8Better Business Bureau. Colonial Metals Group LLC BBB Business Profile
The complaints follow a consistent pattern. Customers say they paid for precious metals that never arrived. Reported individual losses run from $19,500 to over $112,000, with some investors alleging losses of $300,000 or more.9Better Business Bureau. Colonial Metals Group LLC BBB Complaints10Gold IRA Guide. Colonial Metals Group Review One customer reported sending a $25,000 check in January 2025, receiving a “Shipping and Transaction Agreement” a week later, and then hearing nothing further despite repeated attempts to reach the company. Another said $19,500 in IRA funds was transferred in May 2025 and no metals were delivered.11JustAnswer. Colonial Metal Group Self-Directed IRA Inquiry
IRA customers report that their custodians confirmed metals were never received into trust, leaving accounts holding neither cash nor metals.10Gold IRA Guide. Colonial Metals Group Review Custodians including Equity Trust and The Entrust Group have reportedly suspended orders with Colonial Metals Group because of the company’s lack of responsiveness.9Better Business Bureau. Colonial Metals Group LLC BBB Complaints
The Norrell Walker Connection
Norrell L. Walker was named as a Colonial Metals Group principal in the 2024 Genesis Gold Group lawsuit. Walker carries a securities-industry bar: in 2017, the SEC obtained a consent judgment permanently barring him from the industry after finding he had orchestrated a $13.6 million penny stock pump-and-dump scheme between 2013 and 2014.12SEC. SEC v. Marcus A. Luna, Et Al., Litigation Release13SEC. Administrative Proceeding File No. 3-18044 The SEC found Walker had operated boiler rooms through NL Walker & Associates, supervising telemarketers who cold-called investors and personally handling sales of shares in companies he secretly controlled.
Where Things Stand With the Company and Its Lawyers
In late 2025, some customers reported communications from Hitzke & Ferran LLP, a Long Beach, California law firm that appeared to be representing Colonial Metals Group. Attorney Daniel Hitzke was reportedly negotiating with counsel for Equity Trust Company over customer IRA assets. By late 2025 and into early 2026, customers reported that the firm had also stopped responding to calls and emails.10Gold IRA Guide. Colonial Metals Group Review
Equity Trust Company, custodian for many Colonial Metals Group IRA customers, severed its relationship with the dealer. Customers reported that Equity Trust nevertheless continued to send billing statements for custodial services on accounts that in many cases held no assets.10Gold IRA Guide. Colonial Metals Group Review
The company’s Florida corporate registration remained listed as active in state records.1Florida Division of Corporations. Colonial Metals Group LLC Detail Its phone lines have been reported as disconnected and its emails go unanswered.9Better Business Bureau. Colonial Metals Group LLC BBB Complaints
What to Do If You Are Affected
No federal or state regulatory agency has publicly announced a formal enforcement action or investigation specifically targeting Colonial Metals Group as of mid-2026.14Gold Investing Research. Colonial Metals Group Review10Gold IRA Guide. Colonial Metals Group Review
No class action has been filed or certified against the company, though numerous customers have expressed interest in organizing one.10Gold IRA Guide. Colonial Metals Group Review Individual customers who have sued have done so in Palm Beach County and Gulf County circuit courts and, in Leight’s case, in the Southern District of Florida.