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Goldline charged with fraud/theft

yataheyyatahey Senior MemberPosts: 5,605 Senior Member
"When the goin gets weird, the weird turn pro." Hunter S. Thompson

Replies

  • FishTXFishTX Super Moderator Posts: 8,875 Senior Member
    Monkey could have predicted this.
    "We have to find someone who can not only fly this plane, but who didn't have fish for dinner."

    Crooow:This music would work better with women in bikinis shaking all over the place. I guess that's true of any music really.
  • JulietJuliet Posts: 49,774 Senior Member
    seriously?

    it never fails ... the online, boiler room bullion/coin dealers eventually end up going there

    this is sorta like being shocked to find out that the non-prescription drug remedies As Seen on TV don't work
    FishTX wrote: »
    Monkey could have predicted this.

    actually I think I did

    ;)
  • JulietJuliet Posts: 49,774 Senior Member
    What's the over under on Beck going to jail on this. He'd be someone's wife.
  • yataheyyatahey Senior Member Posts: 5,605 Senior Member
    What about all that personal responsibility talk? Don't these suckers that bought that crap deserve to get fleeced?
    "When the goin gets weird, the weird turn pro." Hunter S. Thompson
  • JulietJuliet Posts: 49,774 Senior Member
    just remember the market demographic is pretty much the Doomsday Preppers crowd

    this will be spun as a political lynching by the lamestream liburrl media and once again the IMA Victim of **** Commie Socialist Fascists will be played
  • JulietJuliet Posts: 49,774 Senior Member
    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,"

    Monkey now the scam. He's been telling us this sales pitch scam for years. The Doctor's been had.

    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.


    For the Lodge lawyers. By using the airwaves to advertise why isn't this a Ricco case?
  • FishTXFishTX Super Moderator Posts: 8,875 Senior Member
    monkeydoes wrote: »
    actually I think I did

    ;)
    Thought about saying that, but I wasn't sure I read prediction or just several postings about what a bad idea gold investment is.
    "We have to find someone who can not only fly this plane, but who didn't have fish for dinner."

    Crooow:This music would work better with women in bikinis shaking all over the place. I guess that's true of any music really.
  • JulietJuliet Posts: 49,774 Senior Member
    nah ... I talked about how I had actually in another life worked for one of these 'dealers' what they describe in the article is referred to as 'churning' they simply amped up the activity by steering people into the idea of getting in early on the special opportunity of buying European collector coins (European coins even of older dates have never carried any numismatic premium when it comes to finding a buyer, especially in the U.S.) the scams with these guys always have some incredible amazing story about how your money will be protected, secured, recently discovered hoarde of coins in a secret vault etc they just add a lil more glamour while ripping people off even more ... the real question is and has been for some time is what culpability the TV personalities have in making dire economic predictions.

    Btw the chaos in the streets and economic collapse story has been used for 40 years by these guys so even that scam isn't new just the outlet of using a popular figure like Beck is, the trouble is to what degree was Beck influencing the 'gold market' while simultaneously steering viewers directly to a 'sponsor' in which he also had a financial business interest. The loophole is while they talk up gold as an investment, when buying bullion and taking physical possession its a product and isn't an SEC issue (as opposed to gold stocks) so 'technically' I guess he isn't doing anything wrong just ethically suspect.
  • ouzelproouzelpro Senior Member Posts: 5,361 Senior Member
    Wonder what is the proportion of customers from Utah?
  • JulietJuliet Posts: 49,774 Senior Member
    Utah had a great case a couple decades back in which a bullion dealer was selling gold and also offering to store it for their customers in it's uber secure underground vault which would keep it safe from any natural disaster, nuclear holocaust or worldwide economic meltdown

    when complaints began pouring in and an audit was demanded guess how much gold they found in the uber vault waiting for it's owners?

    I think once they got out of jail a couple of those guys started mining ancient ice age fossilized Utah colloidal vitamin minerals to help all their 'members' become millionaires with home businesses while fighting the worldwide medical conspiracy that keeps us all sick
  • Brian D.Brian D. Senior Member Posts: 4,011 Senior Member
    greenman wrote: »
    For the Lodge lawyers. By using the airwaves to advertise why isn't this a Ricco case?

    Because using the airwaves to advertise isn't one of the elements of a RICO statute crime. Basically, RICO applies to ongoing criminal organizations - racketeering and "organized crime." I think you may be confusing it a little with how mail fraud works.

    The ongoing pattern of fraudulent activity here may be enough to bring this under the RICO statute, but it doesn't have anything to do with the mode of advertising.

    bd
  • Brian D.Brian D. Senior Member Posts: 4,011 Senior Member
    Anyway, the really sad thing is how long it takes for the wheels to start rolling on cases like this when consumers are being ripped off. How many people lost substantial pieces of their life savings over the last several years while the prosecutors were getting around to figuring out that they needed to stop it?

    I went to a seminar put on by the Federal Trade Commission not long ago, and they talked about some of the really egregious consumer fraud cases they've prosecuted. The sad thing is that the same people come back to these schemes over and over - like the guys Monkey talked about who bounced from a shady gold scam to a shady nutritional supplement scam.

    I'm becoming convinced that there ought to be a Consumer Fraud Registry similar to the Sex Offender Registry that these people go on once they get convicted of a fraud on this scale. And after that, every time they want to start or join a business enterprise, that Fraud Offender label ought to follow them conspicuously.

    bd
  • JulietJuliet Posts: 49,774 Senior Member
    Brian ... what about Beck's relationship with Goldline? if it's determined he had more of a financial stake in the company beyond just a sponsor relationship and it's determined he intentionally misled viewers about the economy and provided investment advice while driving viewers to a company he was a principal of or had knowledge of their 'business model' of deliberately selling coins of inflated value as an investment vehicle

    (speaking just in general and not in relation to RICO)
  • flytrapflytrap Banned Posts: 1,659 Senior Member
    yatahey wrote: »
    What about all that personal responsibility talk? Don't these suckers that bought that crap deserve to get fleeced?
    A rare point of agreement with yatahey.
  • yataheyyatahey Senior Member Posts: 5,605 Senior Member
    flytrap wrote: »
    A rare point of agreement with yatahey.

    Not really. I was being facetious.
    "When the goin gets weird, the weird turn pro." Hunter S. Thompson
  • JulietJuliet Posts: 49,774 Senior Member
    f_6611.jpg

    It's Goldline here! Hey buddy wanna buy a Rolex?
  • flytrapflytrap Banned Posts: 1,659 Senior Member
    yatahey wrote: »
    Not really. I was being facetious.
    There IS a god. Thanks, yat, I can quit chain smoking now.

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