Tag: consumer fraud

Mystery Babylon: Revelations Lead to Fraud Convictions for “End of the World” Gold Scammers

Mystery Babylon: Revelations Lead to Fraud Convictions for “End of the World” Gold Scammers

Former politician Larry Bates played on the beliefs of fellow Christians to sell gold and silver that he never delivered By Hubert Walker for CoinWeek ….   Seventy-year-old Larry Bates is a talk radio CEO, a former Tennessee state representative, and a gold and silver bullion dealer. Now, after a five-week trial in Memphis back […]

Federal Court Orders More Than $1 Million in Restitution from Guardian Asset Group

Federal Court Orders More Than $1 Million in Restitution from Guardian Asset Group

By Commodity Futures Trading Commission ….   On May 23, the U.S. Commodity Futures Trading Commission (CFTC) announced that Judge Kenneth A. Marra of the U.S. District Court for the Southern District of Florida entered a Consent Order against Guardian Asset Group, LLC (Guardian) of West Palm Beach, Florida, and its owner and principal, Andrew […]

Texas Attorney General Issues Gold Coin Consumer Protection Tips

Texas Attorney General Issues Gold Coin Consumer Protection Tips

By Universal Coin & Bullion ……   With input from numismatic experts, the Attorney General of Texas, Ken Paxton, has issued a consumer protection alert about buying and selling gold coins. Award-winning rare coins and precious metals writer, Michael Fuljenz, President of Universal Coin & Bullion in Beaumont, Texas, provided continuing consultation to the attorney […]

Federal Court Orders Nevada Man to Pay $2.9 Million+ Penalty for Illegal Precious Metals Transactions

Federal Court Orders Nevada Man to Pay $2.9 Million+ Penalty for Illegal Precious Metals Transactions

Court Earlier Entered a Default Judgment Order against Oakmont Financial, Inc. By Commodity Futures Trading Commission ….   The U.S. Commodity Futures Trading Commission (CFTC) announced that Judge William P. Dimitrouleas of the U.S. District Court for the Southern District of Florida entered an Order of Final Judgment by Default (Order) against Defendant Joseph Charles […]

Be Wary of So-Called “Trump Coins” Cautions Professional Numismatists Guild

Be Wary of So-Called “Trump Coins” Cautions Professional Numismatists Guild

So-called “Trump coins” are being offered in the marketplace, and they may be delightful souvenirs, but in many cases should not be mistaken for “rare coins,” cautions the Professional Numismatists Guild. In some cases, the items being offered are not even actually coins despite how they’re advertised, according to the PNG. “Buyers today may be […]

фальшивые  монеты: Fake British Virgin Islands Coins in Circulation

фальшивые монеты: Fake British Virgin Islands Coins in Circulation

The Government of the British Virgin Islands is advising the public, especially coin collectors, that a ‘coin’ claiming to be issued in the name of the British Virgin Islands, has been offered for sale to coin dealers and the general public. The coins are being sold from the website http://coinsking.ru/ and feature animals from Novosibirsk […]

Federal Court Orders Yorkshire Group to Pay More Than $1.56 Million for Illegal Precious Metals Transactions

Federal Court Orders Yorkshire Group to Pay More Than $1.56 Million for Illegal Precious Metals Transactions

By Commodity Futures Trading Commission ….   The U.S. Commodity Futures Trading Commission (CFTC) obtained a federal court default judgment Order Adopting the Report and Recommendation (Order) against Defendants The Yorkshire Group, Inc. (Yorkshire) and its principal Scott Platto. The Order stems from a CFTC Complaint, filed on September 25, 2013, that charged the Defendants […]

CoinWeek News Wire for October 14, 2016

CoinWeek News Wire for October 14, 2016

By CoinWeek ….   CoinWeek News Wire for October 14, 2016 Brain Food 1.) A guide to valuing all your old Irish coins (PHOTOS) Between the formation of the Republic of Ireland, the shift towards decimalization, and the introduction of the Euro, Irish currency underwent a great number of changes over the past 100 years, resulting […]

CFTC Charges Florida-Based Kelvin Burgos with Illegal, Off-Exchange Precious Metals Transactions

CFTC Charges Florida-Based Kelvin Burgos with Illegal, Off-Exchange Precious Metals Transactions

By Commodity Futures Trading Commission ….   The U.S. Commodity Futures Trading Commission (CFTC) filed a civil injunctive enforcement action in the U.S. District Court for the Southern District of Florida against Florida-based Defendants KB Concepts Group, LLC d/b/a Apex Asset Advisors, LLC (Apex) and Kelvin Burgos, Apex’s president, controlling person, and managing member responsible […]

By September 25, 20160 Comments Read More →
Santa Monica Obtains $2 Million Judgment Against Merit Gold and Silver

Santa Monica Obtains $2 Million Judgment Against Merit Gold and Silver

Third Santa Monica Case Against National Gold Coin Dealers By Santa Monica City Attorney’s Office….   The Santa Monica City Attorney’s Office has obtained a $2 million court judgment against precious metals dealer Seacoast Coin, Inc., formerly doing business as Merit Financial and Merit Gold and Silver. Merit was based in Santa Monica but did […]

Bullion Dealer Tulving Charged with Misappropriation and Fraudulent Solicitation

Bullion Dealer Tulving Charged with Misappropriation and Fraudulent Solicitation

At Least 381 Customers Nationwide Allegedly Defrauded in the Scheme By Commodity Futures Trading Commission…. On Friday, September 11, the U.S. Commodity Futures Trading Commission (CFTC) filed a civil Complaint against Defendants Hannes Tulving, Jr. of Newport Beach, California, and his company, The Tulving Company, Inc., charging them with fraudulent solicitation and misappropriation in connection […]

By September 15, 20150 Comments Read More →
Coin Dealer Tulving Pleads Guilty to Fraud

Coin Dealer Tulving Pleads Guilty to Fraud

By CoinWeek News Staff….   California-based rare coins and precious metals dealer Hannes Tulving, Jr. plead guilty to one count of wire fraud in federal court on Thursday, August 20. The federal government contends that Tulving Company, Inc. defrauded 400 customers out of approximately US$15 million by taking orders over the internet with the full […]

Judge Awards Coin Fraud Victim’s Estate Nearly $1.9 Million under Federal Racketeer Laws

Judge Awards Coin Fraud Victim’s Estate Nearly $1.9 Million under Federal Racketeer Laws

By Paul Montgomery and Associates – PaulMontgomeryOnline.com….   A Federal Court Judge in Texas has issued her final ruling that a coin fraud victim’s estate should receive nearly $1.9 million from a Long Island coin dealer and his grading company under the Racketeer Influenced and Corrupt Organization Act (RICO). The estate was assisted in its […]

FBI: The Case of the Corrupt Coin Dealer

FBI: The Case of the Corrupt Coin Dealer

By Federal Bureau of Investigation ….   Fraudster Targeted Elderly Victims Financial fraud comes in all shapes and sizes. And while corporate criminals, inside traders, and Ponzi schemers often cause their victims to lose millions of dollars, the case of the crooked coin dealer from New York illustrates that even relatively small-time fraudsters must answer […]

Coin Scams – Telemarketer Uses High-Pressure Tactics in Coin Collection Scheme

Coin Scams – Telemarketer Uses High-Pressure Tactics in Coin Collection Scheme

Milwaukee, Wisconsin-based Fox6now.com posted this story about the slick website, cold calls and high-pressure tactics at the heart of a coin collection scam that cost victims millions of dollars. The suspects preyed on the elderly and were relentless. Suspect Joseph Romano ran his scam business, called Atlantic Coin Galleries, out of Lindenhurst, New York between […]

Coin Dealer, Grading Company Hit for Nearly $2 Million under Federal Racketeering Laws

Coin Dealer, Grading Company Hit for Nearly $2 Million under Federal Racketeering Laws

By Paul Montgomery and Associates – PaulMontgomeryOnline.com….   A Federal Court Judge in Texas has ruled that a coin fraud victim’s estate should receive almost $2 million from a Long Island coin dealer and his grading company under the Racketeer Influenced and Corrupt Organization Act (RICO). The estate was assisted in its three-year recovery efforts […]

Texas Coin Dealer Sentenced to 10 Years for Theft

Texas Coin Dealer Sentenced to 10 Years for Theft

By Hubert Walker for CoinWeek…. On December 18, Edwin Chauncey, the former owner and operator of Chauncey’s Rare Coins and Currency in Lubbock, TX, was sentenced to 10 years in prison for swindling $1.24 million from customers. Standing before Judge Brad Underwood of the 364th District Court in Lubbock County, Chauncey, 66, plead guilty in […]

ALL CHARGES DISMISSED, GOLDLINE ANNOUNCES

ALL CHARGES DISMISSED, GOLDLINE ANNOUNCES

Precious Metals Company Will Continue to Set Standard For Customer Disclosures Goldline International Inc., the precious metals leader in customer service and disclosures, today announced an agreement with the Santa Monica City Attorney which dismissed all charges against the company and its employees. Under the agreement, the company agreed to enhance its industry leading disclosures […]

By February 22, 20124 Comments Read More →
Goldline International Placed Under Injunction, Ordered To Change Sales Practices

Goldline International Placed Under Injunction, Ordered To Change Sales Practices

National Coin Dealer Must Also Refund Up To $4.5 Million To Customers, Set Up Fund For Additional Claims The Santa Monica City Attorney’s Office has obtained a judgment and injunction against Goldline International, Inc., one of the nation’s largest gold coin dealers. The injunction, believed to be the strongest ever levied against a precious metals […]

By February 22, 20122 Comments Read More →
NCA RECOVERS MORE THAN $1 MILLION FOR BUYERS OF OVERPRICED COINS

NCA RECOVERS MORE THAN $1 MILLION FOR BUYERS OF OVERPRICED COINS

The Numismatic Consumer Alliance, Inc. (NCA) helped recover more than $1.1 million in the last eight months of 2011 for victims of unscrupulous coin sales, according to John Albanese, founder and president of the not-for-profit watchdog organization. NCA intervention in eight cases led to settlements totaling $1,114,200 for buyers who unwittingly purchased grossly overpriced coins, […]

 
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