Goldline Charged with Fraud and Theft
Goldline International, the precious metal retailer that has capitalized on conservatives’ worries about the economy, has been hit with 19 criminal charges of fraud and theft.
According to a statement released by the consumer affairs division of the Santa Monica City Attorney’s office, Goldline allegedly “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."
The City Attorney’s office said that in addition to the charges against the company, former CEO Mark Albarian, executives Robert Fazio and Luis Beeli, and salespeople Charles Boratgis and Stephanie Howard defrauded customers. Current CEO Scott Carter is also accused of making false or misleading statements.
Each of the charges carries a maximum penalty of one year in jail and maximum fines of between $1,000 and $10,000 per offense.
Glenn Beck, Rush Limbaugh, Sean Hannity, Laura Ingraham, and Mark Levin, former GOP presidential candidates Mike Huckabee and Fred Thompson, among others, have all endorsed the company.
The company’s website features these endorsers, suggesting the talkers backing "gives Goldline credibility." The company has said it will vigorously contest the charges.
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How Could the Better Business Bureau Have Missed This? Or Did They Just Ignore it?
A recent scandal with Goldline International, a California gold dealer, has made people question the authority and ethics of the Better Business Bureau (BBB). The BBB has always been considered a trustworthy place to find ethical businesses; their rating system allows consumers to feel safe choosing someone to give their hard earned money to. The rating system is based on the company’s business practices and customer service. It seems those customers that reach out to the BBB might have something new to worry about; trusting the BBB’s grading. Reports have surfaced accusing the BBB of taking money in exchange for a higher grade and the removal of bad reviews from customers. The Goldline International scandal involves the employees of the company being charged by the Santa Monica City Attorney for alleged grand theft by false pretense, bait and switch, elder abuse, false advertising, and conspiracy. The BBB gave Goldline an ‘A’ rating, despite hundreds of complaints from customers. This seems in line with other Southern California gold dealer’s grades, which are listed as follows:
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 *Downgraded to an F after charges were filed against Goldline
How can companies with as many as sixty-nine complaints still receive the highest grades? These findings have made people question the trustworthiness of the employees at the BBB. Goldline International, who received an ‘A’ from the BBB in ethical business practices allegedly sold customers gold bullion but swapped them for overpriced rare coins down the line. These swaps earned the company over 2000% in commission. Goldline former CEO Mark Albarian, current CEO Scott Carter, Robert Fazio, Luis Beeli, Charles Boratgis and Stephanie Howard have been charged for their alleged actions and are being investigated. The following BBB executives should be charged alongside the Goldline employees for allowing these business practices to continue:
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
Consumers shouldn’t allow themselves to be taken advantage of by the BBB. Take action and stop unethical business practices.
Contact the BBB: The Council of Better Business Bureau, 4200 Wilson Blvd, Suite 800, Arlington, VA 22203-1838 - Phone: 703-276-0100 - Fax: 703-525-8277
Contact your state Attorney General: Inform them of the Deceptive and Unfair Trade Practices by the Better Business Bureau, tell them you want their support in ending this.
Contact the Federal Trade Commission (FTC): Use their online form at https://www.ftccomplaintassistant.gov/.
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*Incoming Sarcasm* This is impossible. Glenn Beck is never wrong about anything...ever. This has to be a scandal lead by George Soros, Acorn, and MoveOn.org to take over the world. Quick invest all your money into Goldline to show the liberals that you mean business.