Glenn Beck-Hawked Goldline International Charged With Theft And Fraud

Author: November 6, 2011 10:11 am

DO IT! BUY GOLD COINS BEFORE THE WORLD ENDS! DO IT NOW NOW NOW!!! (suckers)

Goldline International has made a name for themselves by hiring such celebrities as Sean Hannity, Laura Ingraham, Mark Levin and, of course, Glenn Beck (all right here on the Goldline webpage) to promote their “services.” Notice the lack of liberals. Now, however, Goldline is facing 19 criminal charges.

How to scam stupid people out of their money:

Step one: Convince them that the apocalypse is about to occur and that all of their money will be worthless. Use conservative talking heads lacking in ethics and morals.

Step two: Once your marks are good and terrified, tell them that the only way to survive is to buy a valuable commodity that will become more valuable after the coming global collapse like, for instance, gold.

Step three: Sell the said commodity at a grossly inflated price in a worthless form like, for instance, gold coins.


Step four: Laugh at the sheer stupidity of your marks.

Normally, I wouldn’t necessarily link shady business practices to a celebrity spokesman. If it was discovered tomorrow that George Foreman grills used Uranium 235 in their construction, I would not be inclined to believe that Mr. Foreman himself knew anything about it.

On the other hand, Glenn Beck has spent years and has been paid millions to terrorize his listeners into buying gold coins from Goldline. Not GOLD, gold COINS and that’s where the fraud comes in. Scared listeners would call up Goldline looking to buy gold bullion (straight gold) and were pressured/tricked/lied to into buying gold coins and immediately lost a good part of their investment.

You see, “antique” gold coins are only worth something to other coin collectors. The gold itself is only worth its melt value. In other words, if I have a “rare” $200 coin made out of $20 worth of gold, the coin may be worth $200 but only to someone who wants the coin. If I want to sell the gold it’s still just $20 of gold.

Let me put it another way, Action Comis #1, which has the first appearance of Superman, sold last year for one million dollars. The paper it’s printed on is worth about five pennies.

Goldline sold Superman, customers got toilet paper.

And just in case some brave but misguided soul decides to claim that Glenn Beck never pushed gold coins himself, please, do me a favor and shut the hell up. He knew exactly what he was doing unless he was lying about buying gold coins himself. Either way, he’s a dishonest sleaze, trusted by millions of the weak minded and gullible.

Don’t forget to look for the sequel! Goldline: The Class Action Suit, coming soon to a courtroom near you!

Feel free to tell me what a terrible person I am on Facebook here (public) or here (not so public) or follow me on Twitter @FilthyLbrlScum.

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11 Comments

  • Funny,

    So some want to blame Beck for the advertisers, now I have heard it all, why not blame the network, or the owner of network, or stockholers, blame, blame, blame, sounds familiar. If a company is selling gold, and you don’t get what you paid for, then blame the company, not the network it is advertised on.

  • Did the Better Business Bureau Give Goldline the Opportunity to Commit Fraud?

    Consumers select which companies to do business with based on Better Business Bureau (BBB) ratings. We trust in the reliability and accuracy of the data provided, under the assumption that it is meant fur our benefit. Most would be surprised to learn that these ratings can be bought, because the BBB allows companies to have complaints deleted and their rankings increased for a small fee.

    Goldline International, a precious metals dealer based in North America, appeared to be a trustworthy seller of coins, investments, and gold/silver bullion based on the BBB score. The BBB rated Goldline “A”, giving the impression that they could be trusted to deal honestly and fairly in high-quality metals. In fact, the rating wasn’t downgraded to a more appropriate “F” after the Santa Monica City Attorney filed a long list of alleged violations. It then came out that the BBB was aware of more than 100 consumer complaints.

    The criminal activity that Goldline is alleged to have perpetrated includes bait and switch-type sales, grand theft by false pretense, elder abuse, false advertising, and conspiracy related to each of these. For example, Goldline is alleged to attract customers with advertisement for gold bullion, then use high pressure tactics to sell rare coins instead. However, rather than the industry standard of 15% commission on coin sales, some consumers complained that Goldline took 2000% or more.
    The question is, how did the BBB arrive at its “A” rating for Goldline, despite the complaints? Shouldn’t the BBB process for selecting business scores have alerted them to the potential issues? We now know that contrary to popular belief, the BBB is not primarily for consumer benefit. Instead, higher BBB ratings and removal of complaints are for sale to businesses that will pay.

    These popular Southern California precious metals firms also enjoy high BBB ratings, despite complaints:

    Goldline International, Inc. F* Rating 73 Complaints
    Monex Deposit Company A+ Rating 69 Complaints
    Capital Gold Group, Inc. A- Rating 14 Complaints
    Lear Capital Inc A+ Rating 55 Complaints
    Merit Financial Services A+ Rating 47 Complaints
    *Recent downgrade from “A” after complaint filed by Santa Monica City Attorney.

    It is no wonder that customers are concerned, now that they understand the BBB will give “A+” ranking to companies, regardless of complaints. For the moment, it is only Goldline executives that are the subject of the Santa Monica City Attorney charges, including former CEO Mark Albarian, current CEO Scott Carter, Robert Fazio, Luis Beeli, Charles Boratgis and Stephanie Howard. However, many are beginning to consider that BBB executives should be brought to task for their role in Goldline’s alleged fraud. After all, while the 80-year BBB tradition of allowing “pay to play” goes on, businesses will be able to practice poor ethics without losing customers. The public must take action now to prevent BBB leaders from profiting while customers lose out. Perhaps the Santa Monica City Attorney should add these names to the list:

    Stephen A. Cox (aka Steve Cox) – President/CEO
    Beverly Baskin – Senior VP
    Genie Barton – Vice President and Director, Online Behavioral Advertising Program
    Rodney L. Davis – Senior VP Enterprise Programs
    Joseph E. Dillon – VP and CFO
    Victoria Doran – VP Brand & Digital Media
    Chris Garver – Senior VP, Chief Information Officer
    Frances Henderson – National Director, Privacy Initiatives
    Susan Kearney – Senior VP & Chief Marketing Officer
    Wayne J. Keeley – VP & Director, CARU
    Elaine Kolish – VP & Director Children’s Food & Bev
    Andrea C. Levine – Senior VP, NAD
    Brenda Linnington – Director, BBB Military Line
    Peter Marimello – VP, Electronic Retail Self Regulation Program
    C. Lee Peeler – EVP & President NARC
    Steven Salter – VP, Standards & Services
    Anaise Schroeder – VP Human Resources
    H. Art Taylor – President & CEO, BBB WGA
    Mary Lou Watkins – Senior VP, Chief of Staff
    Bennett Weiner – VP, CBBB & COO, BBB WGA
    Richard Woods – VP, General Counsel
    Vincent L. Gottuso – President, Southland BBB Office
    Mary Lou Diaz – Director of Consumer Services, Southland BBB Office
    Mr. Tom Bartholomy – President/CEO
    Ms. Janet J. Robb – President
    Ms. Jan Quintrall – President
    Mr. Matthew Fehling – President
    Mr. Edward J. Johnson, III – President and CEO

    Each of us must take action now to protect our friends and neighbors, as well as ourselves. Take these steps to share your thoughts:

    Write to the BBB: Send your letter to The Council of Better Business Bureau, 4200 Wilson Blvd, Suite 800, Arlington, VA 22203-1838 – Phone: 703-276-0100 – Fax: 703-525-8277

    Write to your state Attorney General: Their addresses are listed on your state government’s website, or use your internet search engine to locate. Title your message “Deceptive and Unfair Trade Practices by the Better Business Bureau”.

    Write to the Federal Trade Commission (FTC): Complaints are easily filed online at https://www.ftccomplaintassistant.gov/.

    American trust has been violated. Now is the time to stand together against poor business practices.

  • The fact is, Goldline does train the sales reps to turn over “TO” customers to a senior account executives for the “up sell” . They also train sales people to dance around the 35% markup which every employee knows it’s actually more like 55%. Goldline also trains all the account executives to “get the money in” first THEN switch the customer to collectible coins-AKA: bait and switch. All Goldline reps were let go if we sold too much bullion and not enough collectible. Every account executive preyed that the customer didn’t “shop around” because we all knew Goldline had the highest prices in the industry. It’s a typical boiler room, High pressure telemarketing job. I know because I worked there and I went through their training. If the courts ask any old employees to testify, we would all say the same thing because it’s true. That is what the sales training consisted of. Good luck Goldline!

  • That $20 worth of gold is also only worth $20 to someone who wants the gold. You can’t eat gold, or burn it for fuel, or live in it; at base, gold is just as much of a scam as antique coins. If the economy really collapses, value will be in land, tools, food, basic supplies, skills, and social ties, not in shiny metal.

    • not true. you’ll still need a medium of exchange. gold or silver is going to be alot more likely to be used then paper money from a collapsed state.

      gold has been used as a medium of exchange for millenia. Why? Who knows. Someone at some point offered someone some gold in exchange for something and someone accepted it. It became a thing and no one complained.

      at any rate, you need some medium of exchange. You have a gun or a goat or something and you want a …I don’t know a car. You can’t always find someone who has a car and also wants a goat and yadda yadda yadda.

  • Some points in reply:

    1) I do not see any link to the charges, or did I just miss it? Normally I like to actually be able to see/read what someone is talking about/making claims about.

    2) Glenn Beck has made it quite clear that he buys antique coins, and that they charge more for selling them, on his show. He also states the reason quite often: look up “Presidential Executive Order 6102″

    3) Whether the coins would be exempted a second time if/when the Federal Government declares a new emergency is unknown, but it is a completely valid reason for someone to pay more for a coin than for just bullion, regardless of the melt value of same coin.

    4) If Goldline took an order for bullion, but only provided a coin “worth” the same in collectors eyes they would be committing a crime for sure. Same goes in reverse, that if they had taken orders for old coins and filled it with bullion instead it would be a crime. But if the only thing they are doing is upselling people on the worth of coins when they call in, and not changing those same peoples’ orders it is not a crime.

    5)

  • Don’t believe it. It’s a malicious conspiracy being perpetrated by communists and progressives to undermine free market capitalism and damage the reputation of a patriotic company attempting to protect God-fearing people around the world from the socialist policies of the Obama Administration …. right, Glenn?

    Beck’s commentaries are 3 parts delusional ranting, 2 parts sophistry, and 5 parts self-promotion. He is little more than a political televangelist, propagating baseless fear and hatred of those with whom he disagrees and claiming to be the primary source of economic and ideological salvation.

  • The author is not claiming anywhere that commodities don’t vary in market value, but that the coins were sold for far more than market value.

  • This article is generally on point but there are bullion coins. The South AFrican Krugerand and others change hands for about the same price as gold bars.

    I’d also be careful not to conflate Goldline with gold in general. In the stock market buying gold is similar to buying oil or something. It goes up mainly when the dollar goes down and becuae of demand from emerging markets. It’s not some ridiculous thing started by Glenn Beck.

    • This is true Lester, but Goldline was/is specifically pushing “antique” coins knowing full well that there melt value is far below the price of the coin. Many of the complaints involve customers seeking to buy bullion (in whatever form) and being pushed to buy “rare” coins instead as a better value, which, of course, they aren’t.

      • that’s true. I don’t disagree. From whatI understand they were buying the things wholesale then charging higher prices for them based on who even knows.

        The selling point was that numismatic or however you say it coins, collectible coins, can’t be confiscated. The government confiscated the bullion gold from people in 1932. SO blame FDR for all this.

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