Exclusive: Glenn Beck's Golden Advertiser Under Investigation (For Alleged 'Rip Off')

[kpete]

Source: ABC

Exclusive: Glenn Beck's Golden Advertiser Under Investigation
Authorities Probe Goldline, Gold Firm Touted By Beck And Other Fox Talkers, For Alleged 'Rip Off'


By MATTHEW MOSK, JOSEPH RHEE and BRIAN ROSS
July 19, 2010

Authorities in California said today they have opened an investigation into Goldline International, a company that pioneered the practice of weaving its sales pitches into broadcasts by popular conservative political personalities -- including two former presidential candidates and Fox News host Glenn Beck -- to sell hundreds of millions of dollars worth of gold every year.

"There are two main types of complaints we're seeing," said Adam Radinsky of the Santa Monica City Attorney's office, which has launched what it described as a joint investigation with the Los Angeles County District Attorney's office.

"One is that customers say that they were lied to and misled in entering into their purchases of gold coins," he said. "And the other group is saying that they received something different from what they had ordered."

In an interview to be broadcast on ABC News Nightline Monday night and Good Morning America Tuesday morning, Radinsky said the probe is in its early stages and involves more than 100 consumer complaints about Goldline and one other Santa Monica, California-based company, Superior Gold Group.

Read more: http://abcnews.go.com/Blotter/glenn-beck-fox-hosts-golden-advertiser-goldline-investigation/story?id=11197000

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more:
http://crooksandliars.com/karoli/goldline-international-glenn-beck-and-bank

[MadMaddie]

1. Hunh who could of seen that coming?

Becks minions getting ripped off!

[mwb970]

2. That's the market I would go for if I were a grifter.

Uninformed, gullible people driven by emotion to believe everything they hear on Fox "News". It's a cheater's dream.

[MadMaddie]

3. True Dat!

[Hoopla Phil]

4. I think we'll find that the first group of people are just having buyers remorse

and nothing else. As a former Financial Adviser I've seen this a lot. Give advise to put 3% of you assets into precious metals and have the bottom fall out of the precious metals market. Client gets pissed and blames the Financial Adviser. As long as all the proper disclosures were made then the Financial Adviser is in the clear.

The second group of people most likely have a good claim. If you ordered collector coins rated at near mint and get coins that are of lesser quality then you have a scam company making BIG bucks off your ignorance of the coin rating system.


As far as investing in gold goes, 3 - 5% of you investments should be made up of precious metals a a rule of thumb. Right now, considering how high that market is, I'd say a new investor only go in at 1% rate and people adding to an existing portfolio not put any into precious metals at all right now. O course that is free advice given over the internet so accept it in kind please.