Goldline Execs Charged With Fraud

[swag]

Source: ABC News

By MATTHEW MOSK and BRIAN ROSS (@brianross)
Nov. 1, 2011

Goldline, a company that used endorsements from Glenn Beck and other conservative icons to sell hundreds of millions of dollars 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.

Read more: http://abcnews.go.com/Blotter/goldline-execs-charged-fraud/story?id=14857253&singlePage=true

[formercia]

1. More Reich-Wing Family Values.

Why am I not surprised?

[chowder66]

2. Who didn't see this coming? Now we have to hear about Beck. Ugh. eom

[quakerboy]

14. Oh, come on

Dont tell me you aren't looking forward to that wonderfully sordid episode of "celebrity: where are they now"

[chowder66]

37. No. No I'm not. I do have to say I am curious how Beck and ilk...

are going to try to spin this. For now it's just crickets.

[quakerboy]

39. Why spin anything?

All they need to do is wait until the next iteration of the scam opens doors and starts paying for advertising. No need to do anything other than rake in the suckers money.

[chowder66]

45. Spinning is their second-nature. eom

[wordpix]

40. where IS Glen Blech these days? Already a has-been

[swag]

3. Got to hand it to Goldline: they knew where and how to target chumps.

[Kingofalldems]

4. Bahahahaha!

Freepers.

[RevStPatrick]

5. I'm shocked, SHOCKED I tell you!

Not...

[MidwestTransplant]

6. If you are going to rip off somebody, nobody more gullible then Faux/Glenn Beck viewers.

[Scuba]

7. +1

[Blue_Tires]

44. The commercials are all over local sports talk radio as well

[sakabatou]

8. Not surprised.

[onethatcares]

9. freaking misdemeanors, it should be

violations of the RICO act and federal felonies.

Toss them in jail, take all the assets they bought with any money they made between 2009 and 2011.

That's what would happen to you or I.

They had to use the internet or phones which would be wire fraud across state lines which itself is a federal offense.

Come on Eric Holder, get some while you can.

[SpiralHawk]

10. Freaking Republicons screwing Americans with fraud.

As usual.

Why in hell would anyone listen to known liar and draft dodger Glenn Beck?

He is a total republicon. Who in Hell would entrust their money to a corporation endorsed by a Republicon like Beck? You'd have to be a Fox (R) news watching idiot (R).

[gratuitous]

11. Oh, wouldn't you like to sit in on the depositions?

Didn't Beck do some of the Goldline ads himself on the air in the middle of his program? I can't imagine the prosecuting attorney passing up a chance to depose Beck to find out what he knew while he was shilling for Goldline, what Goldline paid him, and whether he participated in any of their shady dealings.

I wonder if Beck's assistant suddenly found a gold brick under Glenn's chair?

[PSPS]

12. All these gold outfits are scams, including those on progressive shows.

Thom Hartmann, Randi Rhodes, Stephanie Miller and Ed Schultz relentlessly hawk ITM Trading. They all use the same business model -- steer the mark into buying overpriced gold coins.

[PoliticAverse]

36. The Mother Jones version of the article specifically mentions Ed Schultz...

http://motherjones.com/mojo/2011/11/glenn-becks-favorite-gold-company-charged-fraud

"But Beck and other endorsers (including liberal talker Ed Schultz) lent an air of legitimacy to the whole operation,"

Previous extensive Mother Jones article on Goldline: http://motherjones.com/politics/2010/05/glenn-beck-goldline-weiner

[quaker bill]

13. And it is not like there is any lack of legitimate dealers

Jewelry is my sideline. There are dozens upon dozens of places where one can establish an account and get metals at spot plus a 3 to 5 percent handling fee. Bullion or medalions, no big deal, no problem at all, and they will buy it back at spot minus 3 to 5 percent for handling. Most of the rest of these operations have accounts with them, buy your gold scrap at 40 to 50 cents on the dollar, put it in the can these legit refiners provide, ship it and get 80 to 90 cents on the dollar back in a few weeks. Test kits for Karat weight are cheap and very easy to use.

[defendandprotect]

15. kr

[Courtesy Flush]

16. Glenn Beck's Favorite Gold Company Charged With Fraud

Source: Mother Jones

Goldline International, the California precious metals retailer promoted by Glenn Beck and other right-wing radio hosts, was formally charged with 19 criminal counts—including grand theft by false pretenses, false advertising, and conspiracy—on Tuesday by the Santa Monica City Attorney's Office. The criminal complaint also implicates Goldline

Read more: http://motherjones.com/mojo/2011/11/glenn-becks-favorite-gold-company-charged-fraud

[givemebackmycountry]

17. It just never stops with these assholes does it?

Like our friend says...

"Something new every day!"

[Old and In the Way]

18. What better company to underwrite Beckk's message?

A fraudulent company is always looking for easy marks. They've certainly hit the motherlode with Beck's audience.

[Kennah]

31. Fools Gold Inc.

You asked

[marginlized]

19. A Mine is a hole in the ground with a liar at the top of it. n/t

[TrollBuster9090]

26. Selling PINK SHEET (OTC) stocks to the hole... nt

[LAGC]

20. HAHAHA! I hope conservatives lost a bunch of money.

Serves them right for listening to that fool.

[wordpix]

41. watch out, they'll be coming to US to bail them out

[Renew Deal]

21. I never saw that coming

:eyes:

[truthisfreedom]

22. Ooohhh! Another fabulous opportunity for Nelson...

http://www.youtube.com/watch?v=aIrhVo1WA78

[lonestarnot]

23. Tee hee, is nutfucker Beck implicated?

[truthisfreedom]

24. Just humiliated, I assume. How could he know that he was being played for a huckster of bullshit?

Oh wait, what part of glen isn't a huckster of bullshit?

[TrollBuster9090]

25. He'll find some way to blame it on Saul Alinsky.

Or, better yet, the GUBMINT!

"Government is supposed to protect consumers from FRAUD! The SEC and the Department of Commerce failed to do their job! There was probably some legislation in the works about regulating fraudulent gold merchants, and it was PROBABLY blocked by BARNEY FRANK! Probably. So, if the Department of Commerce is to blame for not regulating these phoney gold merchants, we have no choice but to...ELIMINATE IT!"

[truthisfreedom]

27. OMG you're freaking right.

He'll spin it into something that gets all of his followers into a lather over the administration.

[TrollBuster9090]

30. And then they'll buy MORE gold from the same crooks.

Frankly, half of these conservative movement Agent Provocateurs are just in it to fleece the sheep. How else can you explain the fact Limbaugh is now selling brand name RUSH TEA. If he stopped being a feeder and tutor of Tea Party riots, he wouldn't be able to sell tinted sugar water to middle aged diabetics anymore.

[wordpix]

42. absolutely, but let's see how he calls for more regs when he's anti-reg

:popcorn: I'm sure he'll say things that are so off the wall they'll keep us amused for decades

[Crowman1979]

32. Oh please let there be an orange vest in Glenn Beck's future!

[Grassy Knoll]

28. George Soros is behind this......

Spooky dude is always 2 steps ahead of BecKKK
:rofl:

[AsahinaKimi]

29. I wonder who Beck will blame for this?

I bet he will go nuts on his radio show! I hope he foams at the mouth and collapses on the floor crying!

[saras]

33. You mean Beck wasn't in on it? He doesn't get his share of the booty? Bummer for him.

[JohnnyRingo]

34. "Glenn Beck said you'd take care of me."

should have been the first sign that you were in trouble.
Wondering why Goldline wasn't hoarding a sure bet themselves should have been the second.

[No Elephants]

35. So....no lawyer bashing on this thread? No praise either, though.

Guess that RW propaganda, drummed in for many years is very powerful. Pity.

A city Attorney from a relatively small city, probably earning a fraction of what lawyers in private firms in the L.A. area are making. Good work. Thank you.



"But Beck and other endorsers (including liberal talker Ed Schultz) lent an air of legitimacy to the whole operation, sowing fears of a total economic collapse to help make the pitch for Swiss Francs. Beck's pitch went a step further, arguing that in the event of a total financial meltdown, the government would confiscate gold bullion—meaning you should invest your money in coins instead."

Sounds as though Beck and Shultz were aidors and abettors. (Please don't tell me they didn't know better. Selling snake oil to scared folks is tempting, though, because it's so profitable.)

The likes of Beck and Shultz will probably never be arrested, but perhaps these Santa Monica arrests will shut up some of these media hucksters, at least for a while.

Not as though most folks have a lot of money to spend on smoke and mirrors these days.

[sarcasmo]

38. Kick!

[wordpix]

43. "the complaint alleges that the company trains salespeople to "get the money in" "

and one of those people was Blech.

[a simple pattern]

46. Every time I see this I think it says "Goldman."

Maybe someday.