ia
Vie CASTLEGAR NEWS, October 12, 1983

By LINDA DEUTSCH.
LOS ANGELES (AP) — The apparent suicide of Alan
Saxon marked the end of a golden dream for 35,000.

Siti oe aa ta

recording found, near ‘Saxon's’ body. ‘David. low,
for A General Robert Abrams ofNew’

in his Bullion Reserve of North America.

Saxon died less than two weeks ago in the sauna of his
$685,000 condominium on the edge of Marina del Rey, a
mecea for Southern California's youthful nouveau riche.

* Bat the trappings of wealth, it would soon become clear,
were a facade: Saxon's gold and silver trading business was
near bankruptcy.

‘Much of the gold he had sold to about 35,000

York, says Saxon left a’tape-recorded message saying he
committed suicide in part because of business’ difficulties:

Philibosian warned that thousands of investors) are. ]

. “unlikely to get any money back. He said his department:was
. investigating whether investors might be the victims

theft, but he added: “We are not convinced a erim was
committed at this time.”

After a ere mnaey audit, Bullion Reserve last Monday, 4

was gone or had existed only on pieces of paper. traded in the
futures market. Authorities were demanding to see his
financial records.

Enough mystery surrounded Saxon’s demise to lead
District Attorney Robert Philibosian of Los Angeles County
toseek a coroner’s eee into the circumstances surround-
ing the death.

“We don't have any reason to believe it is not a suicide,”
said Philisosian. “It's a matter of closing every loophole in
the case.”

Saxon, 39, was found dead Sept. 28. A hose from a
motorcycle exhaust led to the sauna at the house where he
lived with his wife, Susan.

filed for p: under Chapter 11/of U.S.
bankruptcy laws. mee company laws filed suit seeking’ the

return of $23’ million in assets froia individuals and)
companies, including $16.4 million in homes, cars, , business: 8

holdings and cash from Saxon’s estate and wife.
who New York
as much as $60 million, were left with an expensive lesson in

id may have lost :

either: delivered the’ metals or:

indicating the metals ‘were

super-secure ee Heserva, vi

in Utah.) >
“We haye been told

the world of bullion trading — a multimillion-dollar inter. r

national where get no i and

amateurs are out of their league.

Gordon Briggs, a consultant specializing in the bullion
market, said many people “are ignorant shout how to tnventy H

in gold, silver and platinum.”
Briggs, based in Beverly, Hills, publishes the Bullion
Letter, a a aicataly cireulated pewaletier: for insiders in‘the

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