Oh dear

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 CEO Mark Albarian, along with two other company executives and two salespeople.

The charges detailed in the complaint support what MoJo’s Stephanie Mencimer first reported in 2010: Using aggressive telemarketing tactics, Goldline employees routinely pressured customers to purchase expensive coins with mark-ups so steep that it was very unlikely the consumer would ever make his money back. The company racked up a long list of complaints with the Federal Trade Commission, and at one point was sanctioned by the state of Missouri. 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.

4 thoughts on “Oh dear

  1. You can’t eat precious metals, so they are still worthless as paper money in the event of a collapse DUH!

  2. Ed Schultz a guy who has his nose stuck so far up Obama’s butt that it’s amazing he hasn’t already died of asphyxiation. Why anybody thinks of him as a liberal is astonishing. But the worst of the worst on MSNBC is Chris Matthews who surely has a Bill and Hillary shrine erected in the living room of his home.

  3. Oh. They were charged under the California Penal Code. That explains it. There are little pockets here and there where laws are actually enforced. If only they had violated federal law – they would have been home free.

    So they were “…formally charged with 19 criminal counts—including grand theft by false pretenses, false advertising, and conspiracy…”

    Well, as the late, great Pat Paulsen would have said “picky, picky, picky”.

    Grand theft, huh? Maybe they could turn this into a video game, like “Grand Theft Gold”.

  4. The thing I never understood was that if gold was such a great investment, why were they selling it? They should be buying it, right?

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