Sarasota Man Guilty in Precious Metals Scam

Bernard McBride Jr. was convicted on three counts of grand theft related to a precious metals and promissory note investment fraud scheme.

McBride, along with his wife Patricia McBride, controlled Tutela Mining, Inc., a Sarasota-based company that claimed to own and operate a gold mine in California. He convinced victims to invest their retirement accounts in Tutela through an unlicensed telemarketing group named Guardian Asset Group, LLC. Guardian solicited the public for several investment opportunities, including leveraged precious metal accounts and convertible promissory notes issued by Tutela.

The investigation revealed that Tutela never owned or operated a gold mine. A review of financial records connected to Tutela and the McBrides showed that more than $585,000 had been transferred to them from Guardian accounts, which was used to fund their personal lifestyle.

This case was developed jointly by the OFR and the Florida Department of Law Enforcement. The Florida Attorney General’s Office of Statewide Prosecution prosecuted the case.

Read the press release.