A California company that sponsored conservative talk show host Glenn Beck's radio program has been charged with fraud in a 19-count criminal complaint in Santa Monica.
The company, Goldline, is accused of using Fox News' Beck and other conservative spokespeople in a bait-and-switch operation to sell overpriced gold coins, according to a report on the Santa Monica Daily Press website.
Goldline's salespeople supposedly lured money from customers with a promise of delivering gold bullion, with the intent of later switching the sale to the coins.
"At the heart of the complaint is the suggestion that Goldline profits not so much by selling pure gold bullion, but by persuading customers who want to capitalize on the rising value of gold to purchase collectable coins," according to an ABC News Radio report on the case. "The coins are subject to a significant mark-up in price, and several Goldline customers told ABC News that they found it difficult or impossible to resell those coins without taking a loss."
Beck is planning to move the headquarters and studio of his Mercury Radio Arts to Southlake in North Texas.
The investigation into Goldline was first reported by ABC News more than a year ago. A spokesman for Beck at the time said that Goldline had an A-plus rating from the Better Business Bureau.
The company told ABC today that it will "vigorously fight" the allegations in California.
Goldline features a prominent endorsement from Beck on its website.
Even with the record run up in gold prices, gold coins (along with silver coins) are a really stupid investment unless aquired years ago, are relatively rare and in near mint or mint condition.
Idiots!
Your collective inability to acknowledge this obvious truth makes you all look like fools.
Lord Jim wrote:I'm no great fan of Glen Beck's, but I don't really see how the fact that one of his commercial sponsors turns out to be a fraud reflects on him....
Lots of businesses buy lots of air time on lots of shows...
It's not the on air talent's job to vet the companies who are buying air time on the show...
His/her job is to make the program popular, so that they can get maximum dollar for the ad spots, no matter who buys the time....
They didn't just buy air time, Jim; Beck endorsed and shilled for the company to his audience. Beck may not have been part of the fraud, but since he has been aggressively steering his True Believers to this particular scam it cannot help but reflect poorly on him.
Also, the Estate of Orson Welles should be suing his ass for that "Mercury Radio" business. Talk about a fraud!
They didn't just buy air time, Jim; Beck endorsed and shilled for the company to his audience. Beck may not have been part of the fraud, but since he has been aggressively steering his True Believers to this particular scam it cannot help but reflect poorly on him.
Also, the Estate of Orson Welles should be suing his ass for that "Mercury Radio" business. Talk about a fraud!
I wasn't aware of that Sue...
I haven't listened to Beck's show in years....
You, on the other hand, are apparently a hardcore fan...
