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Joe Melomo, from Austin, Texas, left, accompanied by Dama Brown, director, Southwest Region, Federal Trade Commission, testifies on Capitol Hill in Washington, Wednesday, April 30, 2014, before the Senate Special Committee on Aging hearing on 'Exploring the Perils of the Precious Metals Market' . Melomo says he lost more than $200,000 after investing in gold and silver with a Florida-based precious metals company, almost everything he had saved for retirement.  (AP Photo)

Joe Melomo, from Austin, Texas, left, accompanied by Dama Brown, director, Southwest Region, Federal Trade Commission, testifies on Capitol Hill in Washington, Wednesday, April 30, 2014, before the Senate Special Committee on Aging hearing on 'Exploring the Perils of the Precious Metals Market' . Melomo says he lost more than $200,000 after investing in gold and silver with a Florida-based precious metals company, almost everything he had saved for retirement. (AP Photo)

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