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Mother of Jury and L.A. City Council at Odds Over $24 Million Settlement

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The tragic death of 32-year-old Navy veteran Jesse Murillo at the hands of L.A. police officers has sparked a legal battle that culminated in a $24.45 million settlement for his mother, Tammy Murillo, from the city of Los Angeles. This settlement, approved by the L.A. City Council, comes after a federal jury awarded Tammy $23.8 million and found the officers responsible for Jesse’s death guilty of using excessive and unreasonable force in a shooting that took place two days before Christmas in 2017.

The incident began when police responded to a 911 call reporting a family disturbance at Murillo’s Canoga Park home. Officers arrived at the scene and mistakenly believed that Jesse, who was holding a metal pull bar, was armed with a machete and a hammer. Despite the evidence later showing that Jesse was not holding any weapons, Officers Fred Sigman and Christopher Montague opened fire, fatally shooting him.

The district attorney’s office initially deemed the shooting lawful, and the Police Commission also found the use of deadly force to be within LAPD policy. However, a federal jury later found the officers guilty of using excessive force, leading to the significant monetary award for Tammy Murillo.

The jury heard arguments from the Murillo family’s attorneys, who presented evidence that contradicted the officers’ accounts of the incident. They argued that Jesse never posed an immediate threat to the officers or anyone else, making the use of deadly force unnecessary and unjustified. The jury ultimately awarded Tammy $24.45 million in damages, including compensation for pre-death pain and suffering, loss of life, and wrongful death.

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This settlement comes at a time when the LAPD is facing increased scrutiny over allegations of misconduct. City Controller Kenneth Mejia’s data shows that the city has paid out over $125 million in claims against the LAPD from fiscal year 2020 to 2023. The Murillo case is just one of many legal battles highlighting the need for accountability and transparency within law enforcement agencies.

As Tammy Murillo prepares to receive the substantial settlement from the city of Los Angeles, it serves as a reminder of the ongoing challenges in ensuring justice for victims of police violence. The tragic loss of Jesse Murillo has sparked important conversations about police accountability and the need for meaningful reform to prevent similar tragedies from occurring in the future.

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Is now the right time to invest in gold as prices have cooled?

Now may be the time to buy gold following a recent lull in its price.

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The price of gold has climbed to record highs recently and has remained strong through much of April. And, that growth continued until the precious metal traded at around $2,390 per ounce on April 19, 2024. But since, growth in the price of the precious metal has cooled, with gold’s price now hovering around $2,300 per ounce.

This lull in gold’s price may represent an investment opportunity.

In general, investing is centered around buying assets when prices are low and selling them when prices are high – generating a profit on the difference between the two. So, considering the declines in gold’s price over the past few days, now may be the time to make your investment. But is buying gold during this lull in prices really a good idea?

Compare your gold investment options among leading brokers now.

Gold prices have cooled. Should you buy in now?

With gold’s price down from recent highs, you may be wondering if now is the right time to buy in. There are several reasons the dip in gold’s price may represent an opportunity to buy. Here are some of the biggest:

Prices may rise again

If looking at a gold price chart shows anything for certain, it shows that changes in the overall growth of the medal come in fits and spurts. Periods of price growth are typically followed by periods of declines and vice versa.

But with inflation rising in recent months – and with gold’s reputation as a safe-haven asset that can hedge against inflation – it only makes sense that the price of the precious metal will eventually start to head up again in the future. While attempting to time that directional change may be tricky, buying the precious metal while the price is down gives you the opportunity to take advantage of any upward movement that may be ahead.

Add gold to your portfolio now before prices have a chance to rise.

You may be able to make a quick profit

Gold isn’t known as an asset in which you can earn a quick return, but in today’s market, that may be the case. Don’t forget that in January, gold was trading at just $2,000 per ounce. And, by mid-April, the commodity’s price had climbed to around $2,400 per ounce. That’s about 20% growth in a matter of months, much of which happened since March 1 – an impressive climb for any investment asset.

Perhaps more importantly, gold’s price growth through the beginning of 2024 shows that the commodity doesn’t have to be a buy and hold style investment that you keep in a safety deposit box or precious metal depository for years to come. There’s also the possibility that the commodity’s price could climb further ahead, making it a compelling way to potentially generate a quick profit.

There are other benefits of investing in gold

There are other benefits of investing in gold that have little to do with the price growth seen thus far in 2024 – or the lull in prices seen over the past couple of days. Those benefits include:

Inflation protection: Gold has long been considered an inflation hedge, and for good reason. When inflation drives the prices of consumer goods and services up – and the value of the dollar down – gold’s price tends to rise. So, it could be used to maintain the value of your portfolio during inflationary economic conditions. That’s important in today’s economic environment as stubborn inflation continues to weigh on the value of the dollar.
Portfolio diversification: Gold’s price doesn’t always move in the same pattern that bonds or stocks do. So, mixing a reasonable amount of gold into your portfolio (up to 10% of your portfolio assets) as a diversifier could protect you from losses should one or more of your traditional portfolio assets fall in value. “If you have less than 5% – 10% of your net worth in commodities & FX (forex), you should absolutely consider adding exposure to gold and other precious metals,” says Vijay Marolia, money manager and managing partner at the wealth management firm, Regal Point Capital.

The bottom line

Gold’s price has fallen from recent highs – which may represent an opportunity to tap into growth ahead. However, gold isn’t simply a “buy while it’s low and sell while it’s a high” kind of investment opportunity. The commodity can also protect your portfolio from the stubborn inflation we’ve seen thus far in 2024 while acting as a diversification tool that could increase your risk-adjusted portfolio returns. So, consider adding gold to your portfolio today while it has the potential to grow in value.

Joshua Rodriguez

Joshua Rodriguez is a personal finance and investing writer with a passion for his craft. When he’s not working, he enjoys time with his wife, two kids, two dogs and two ducks.