If you’re familiar with those old television ads with the likes of Glenn Beck and other conservative political figures endorsing the company Goldline you’re more than likely aware of the deals they offered for consumers to buy gold in order to protect families in these rough economic times.
Over a year ago ABC Good Morning America’s Brian Ross started an investigation into the company after complaints started rolling in from consumers about being baited and switched by the company when attempting to buy products offered through their television commercials or receiving products completely different from what they ordered.
On Tuesday, November 1, 2011 local officials in California filed a complaint that charges Goldline with theft and fraud in a 19-count criminal complaint.
ABC reports, “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” – Source.
Below is one of the original news stories about Goldline and what lead to this entire investigation. Embedding has been disabled by ABC News so in order to view the video please click the picture to be taken to the video.
Have you or anyone you know taken advantage of the Goldline deals and offers? What was your experience? We want to hear from you – leave a comment below!
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