Goldline Execs Charged With Fraud

Discussion in 'Law and Justice System' started by Synthaholic, Nov 4, 2011.

  1. Synthaholic
    Offline

    Synthaholic Platinum Member

    Joined:
    Jul 21, 2010
    Messages:
    35,600
    Thanks Received:
    5,033
    Trophy Points:
    1,130
    Location:
    Kicking PoliticalChic's ass up & down the forum
    Ratings:
    +8,878
    Suckers!!!

    [​IMG][​IMG][​IMG]


    Goldline Execs Charged With Fraud


    Goldline, a company that used endorsements from Glenn Beck and other conservative icons to sell hundreds of millions of dollars worth of gold to consumers, has been charged with theft and fraud in a 19-count criminal complaint filed Tuesday by local officials in California.


    The criminal complaint filed Tuesday by the Santa Monica City Attorney's consumer protection unit marks the latest in a series of allegations it has leveled against the gold dealer, which pioneered the practice of weaving its sales pitches into broadcasts by popular conservative political personalities -- including two former presidential candidates -- to sell hundreds of millions of dollars worth of gold every year.


    The complaint alleges that Goldline "runs a bait and switch operation in which customers, seeking to invest in gold bullion, are switched to highly overpriced coins by using false and misleading claims," according to a statement released by the consumer affairs division of the Santa Monica City Attorney's office.


    The company has been charged in the court filing with misdemeanors that include theft by false pretenses, false advertising, and conspiracy, the City Attorney's office said. In addition to the charges against the company, the complaint accuses former CEO Mark Albarian, executives Robert Fazio and Luis Beeli, and salespeople Charles Boratgis and Stephanie Howard of defrauding customers. Current CEO Scott Carter is accused of making false or misleading statements. Each of the charged offenses carries a maximum penalty of one year in jail and maximum fines of between $1,000 and $10,000 per offense.
     
  2. editec
    Offline

    editec Mr. Forgot-it-All

    Joined:
    Jun 5, 2008
    Messages:
    41,427
    Thanks Received:
    5,598
    Trophy Points:
    48
    Location:
    Maine
    Ratings:
    +5,618
    Caveat emptor.

    They sold the sizzle of the steak then convinced the fightened dupes to buy hamburger instead, but to pay filet mignon pries for it, too.

    :lol:
     
  3. Sallow
    Offline

    Sallow The Big Bad Wolf. Supporting Member

    Joined:
    Oct 4, 2010
    Messages:
    56,535
    Thanks Received:
    6,132
    Trophy Points:
    1,840
    Location:
    New York City
    Ratings:
    +7,394
    Where's Glenn Beck?
     
  4. NYcarbineer
    Online

    NYcarbineer Diamond Member

    Joined:
    Mar 10, 2009
    Messages:
    96,203
    Thanks Received:
    11,272
    Trophy Points:
    2,060
    Location:
    Finger Lakes, NY
    Ratings:
    +30,290
    I think that's the least surprising thread title I've ever seen on USMB. It's really sad that people can't simply follow a simple rule,

    if it's advertised around cable news or talk radio, DON"T BUY IT. Period. No matter what it is.
     
    • Thank You! Thank You! x 1
  5. paperview
    Offline

    paperview Life is Good

    Joined:
    Jul 27, 2009
    Messages:
    12,986
    Thanks Received:
    2,595
    Trophy Points:
    245
    Location:
    the road less traveled
    Ratings:
    +4,149
    We tried to tell them. Did they listen? Do they ever listen?
     
    • Thank You! Thank You! x 2
  6. Mad Scientist
    Offline

    Mad Scientist Deplorable Gold Supporting Member Supporting Member

    Joined:
    Sep 15, 2008
    Messages:
    23,940
    Thanks Received:
    5,212
    Trophy Points:
    270
    Ratings:
    +7,683
    That's why I don't buy gold coins, just bars. Coins have a numismatic value that isn't tied to the price of gold. Yeah it can go up but of course, it can go down as well. I've never had a problem hanging up on salesmen, or going somewhere else if they try to sell me something I didn't want.

    Let's see, from Goldline's FAQ section on their website:
    http://www.goldline.com/faq-goldquestions
    When some guy with an Indian accent calls my house and says:
    "Mr. XXX, I see that you have a mortgage, would you like to refinance?", I have no problem telling them: "Take me off your call list" then hanging up.

    And when I call someplace to buy something and the guy (or gal) tried to sell me something else, it's not hard for me to say no! Just say no!

    I buy my gold and silver online from apmex(dot)com, whom I heard about from others that buy gold and silver, and have never had a problem. I take physical delivery of it by the way.
     
    Last edited: Nov 4, 2011
  7. Sallow
    Offline

    Sallow The Big Bad Wolf. Supporting Member

    Joined:
    Oct 4, 2010
    Messages:
    56,535
    Thanks Received:
    6,132
    Trophy Points:
    1,840
    Location:
    New York City
    Ratings:
    +7,394
    Where do you live again? :razz:
     
  8. Mad Scientist
    Offline

    Mad Scientist Deplorable Gold Supporting Member Supporting Member

    Joined:
    Sep 15, 2008
    Messages:
    23,940
    Thanks Received:
    5,212
    Trophy Points:
    270
    Ratings:
    +7,683
  9. Mad Scientist
    Offline

    Mad Scientist Deplorable Gold Supporting Member Supporting Member

    Joined:
    Sep 15, 2008
    Messages:
    23,940
    Thanks Received:
    5,212
    Trophy Points:
    270
    Ratings:
    +7,683
    It's the people who don't take physical delivery who'll be stuck when they can't get their gold in the future, or the gov't just confiscates it. (No, I'm not giving mine up)

    I'll PM you my address but be advised; My home, family and investments are protected by Mr Remington and Mr. Glock. Mrs. Scientist has become a pretty good shot too!

    Good luck! :lol:
     
  10. Synthaholic
    Offline

    Synthaholic Platinum Member

    Joined:
    Jul 21, 2010
    Messages:
    35,600
    Thanks Received:
    5,033
    Trophy Points:
    1,130
    Location:
    Kicking PoliticalChic's ass up & down the forum
    Ratings:
    +8,878

Share This Page