You know those commercials you see late-night on most networks (but pretty much ’round the clock on Fox’s cable propaganda network) for Silver Eagle coins?  Maybe we sussed out their seemingly endless supply:  Two precious metal trading companies owned by the same individual will pay nearly $150 million in fines and restitution after an audit found hundreds of thousands of collectible coins missing, the BBC reports.

An investigation by the US Commodity Futures Trading Commission–because, y’know, Big Government and everything–found First State Depository and Argent Asset Group, two companies owned by Robert Higgens ran “fraudulent leasing programs” during which he collected silver and more than $7 million in cash from 200 clients.  For all intents and purposes, it was a precious metals-based Ponzi scheme, where investors were told they would make more money on silver they loaned (or bought from and loaned back) to the two companies, who would then broker the metals back to new investors, but in fact, there were no precious metal coins purchased, as contracted, and it was all a scam.  (Coinweek does a better explanation for those inclined.)

Now Higgens et al are on the hook for $112.7 million in restitution and another $33 million in a civil penalty.  He and his companies are permanently barred from ever trading any CFTC-regulated commodity and from ever holding a commodity trading license.