Judge Freezes Assets of Beck's Gold Advertiser
Goldbully
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Only an LA judge could be this brazen.....
From the liberal Mother Jones Website:
Judge Freezes Assets of Beck's Gold Advertiser
— By Stephanie Mencimer
| Wed Dec. 8, 2010 10:32 AM PST.Glenn Beck might, for once, be right: the government is coming for your gold. But only if you happened to buy it from one of Beck's advertisers, the Superior Gold Group. At the request of prosecutors from LA County and Santa Monica city who have filed a civil suit against the company, Los Angeles County judge has ordered that Superior Gold be placed into receivership and all of its assets—bank accounts, real estate, and presumably gold stored for customers—frozen. On Monday, a court-appointed lawyer actually physically seized control of the company, presumably to prevent further wrongdoing. The lawsuit alleged that among other things, Superior had defrauded its customers by overcharging them, fraudulently inducing them to buy overpriced collectors' coins rather than the bullion that they wanted, and taking customers' money for coins they never produced. The prosecutors hope that the lawsuit will provide restitution for all of the company's ripped off customers. The judge will hold a hearing later this month to decide whether the company's assets should remain frozen until the case goes to trial.
Putting a company in receivership is a pretty drastic and very rare move for a judge in a civil case. It does not bode well for Beck's other and much bigger gold advertiser, Goldline, which has also been accused of very similar tactics, as Mother Jones documented earlier this year. The California prosecutors are also investigating Goldline. Both companies have claimed that they were targeted solely because of liberal outrage about Beck's political viewpoints, and touted their outstanding ratings from the Better Business Bureau in their defense. But the dramatic business seizure on Monday of Superior Gold suggests that the consumer complaints were not only legitimate, but that the situation may be worse there than any of the critics suspected. Whether Goldline is in the same boat is hard to know, but the swift takeover of Superior Gold has to be making Goldline (and Beck, too) awfully nervous.
MJ Link
edited to add: I watch/listen to Glenn Beck all the time......I've never heard him mention this company.
From the liberal Mother Jones Website:
Judge Freezes Assets of Beck's Gold Advertiser
— By Stephanie Mencimer
| Wed Dec. 8, 2010 10:32 AM PST.Glenn Beck might, for once, be right: the government is coming for your gold. But only if you happened to buy it from one of Beck's advertisers, the Superior Gold Group. At the request of prosecutors from LA County and Santa Monica city who have filed a civil suit against the company, Los Angeles County judge has ordered that Superior Gold be placed into receivership and all of its assets—bank accounts, real estate, and presumably gold stored for customers—frozen. On Monday, a court-appointed lawyer actually physically seized control of the company, presumably to prevent further wrongdoing. The lawsuit alleged that among other things, Superior had defrauded its customers by overcharging them, fraudulently inducing them to buy overpriced collectors' coins rather than the bullion that they wanted, and taking customers' money for coins they never produced. The prosecutors hope that the lawsuit will provide restitution for all of the company's ripped off customers. The judge will hold a hearing later this month to decide whether the company's assets should remain frozen until the case goes to trial.
Putting a company in receivership is a pretty drastic and very rare move for a judge in a civil case. It does not bode well for Beck's other and much bigger gold advertiser, Goldline, which has also been accused of very similar tactics, as Mother Jones documented earlier this year. The California prosecutors are also investigating Goldline. Both companies have claimed that they were targeted solely because of liberal outrage about Beck's political viewpoints, and touted their outstanding ratings from the Better Business Bureau in their defense. But the dramatic business seizure on Monday of Superior Gold suggests that the consumer complaints were not only legitimate, but that the situation may be worse there than any of the critics suspected. Whether Goldline is in the same boat is hard to know, but the swift takeover of Superior Gold has to be making Goldline (and Beck, too) awfully nervous.
MJ Link
edited to add: I watch/listen to Glenn Beck all the time......I've never heard him mention this company.
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Comments
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edited to add: I watch/listen to Glenn Beck all the time......I've never heard him mention this company. >>
I have never heard them advertise on his show either.
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One of the unhappy customers:
"Steven Siry, 61, of Los Angeles is one customer who believes he was ripped off. Siry said he invested $20,000 in a "gold IRA" through Superior Gold. But company representatives sold him collector's coins at an inflated rate rather than offering him bullion, and it took more than a year and numerous phone calls before the coins were delivered to the trust company that was to hold them, he said."
<< <i>Never saw them advertised with Beck. Could the LA TIMES be wrong? >>
What in the heck are you talking about? The L.A. Times story never mentions Beck.
<< <i>
<< <i>Never saw them advertised with Beck. Could the LA TIMES be wrong? >>
What in the heck are you talking about? The L.A. Times story never mentions Beck. >>
Maybe someone with a political agenda is trying to stir things up?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
<< <i>
<< <i>Never saw them advertised with Beck. Could the LA TIMES be wrong? >>
What in the heck are you talking about? The L.A. Times story never mentions Beck. >>
Maybe someone with a political agenda is trying to stir things up? >>
If you think Mr. Percy has a political agenda, say so........
The Beck tie in came from the Mother Jones writer. Go figure.
*Clarification: It appears that Superior Gold Group has not advertised on Beck's show since December 2009
It's about time someone took notice of gold purveyers selling "collector coins" instead of bullion as the two should never be mixed.
It's actually quite an ingenous scheme. Dupe the ignorant by selling them an overpriced product that they do not understand and that they'll never see since, according to law, they cannot have it in their physical possession if its part of their 401K.
The name is LEE!
not the Mint."
What kind of BS is that? Scammers from the get go, and lock 'em up and throw away the key!
bob
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Actually, I would call the gold advertisers "Beck advertisers", and vice versa. They both invoke the others name, being it Beck saying buy from Goldline because he does, or Goldline touting Beck's name as a customer / promoter. >>
The advertising contracts are between the network and the advertiser. Can't say that I've ever seen Beck say "buy from Goldline" during his show. Now if Goldline is paying him to be in one of their advertising spots, that's a different animal.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
"Have you ever subscribed to a gold newsletter?" "Have you ever bought gold bullion?" "Have you ever been at a coin show rally with other sympathizers?" "Do you have a monthly purchase program?" "Do you have photographs of gold coins on your computer home screen?"
Good night and good luck.
Comrade Renski,
Oops, I mean renman95
<< <i>
<< <i>Actually, I would call the gold advertisers "Beck advertisers", and vice versa. They both invoke the others name, being it Beck saying buy from Goldline because he does, or Goldline touting Beck's name as a customer / promoter. >>
The advertising contracts are between the network and the advertiser. Can't say that I've ever seen Beck say "buy from Goldline" during his show. Now if Goldline is paying him to be in one of their advertising spots, that's a different animal. >>
I've seen MANY ads with Beck saying he only buys from goldline, it's the company he turns to, etc.
<< <i>
<< <i>
<< <i>Actually, I would call the gold advertisers "Beck advertisers", and vice versa. They both invoke the others name, being it Beck saying buy from Goldline because he does, or Goldline touting Beck's name as a customer / promoter. >>
The advertising contracts are between the network and the advertiser. Can't say that I've ever seen Beck say "buy from Goldline" during his show. Now if Goldline is paying him to be in one of their advertising spots, that's a different animal. >>
I've seen MANY ads with Beck saying he only buys from goldline, it's the company he turns to, etc. >>
Michael Jordan sold a lot of tennis shoes that were made in foreign sweat shops. Doesn't make him guilty of running a sweat shop.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey