Glenn Beck’s favorite service has been charged by California officials:

The complaint alleges that Goldline “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,” according to a statement released by the consumer affairs division of the Santa Monica City Attorney’s office.

The company has been charged in the court filing with misdemeanors that include theft by false pretenses, false advertising, and conspiracy, the City Attorney’s office said. In addition to the charges against the company, the complaint accuses former CEO Mark Albarian, executives Robert Fazio and Luis Beeli, and salespeople Charles Boratgis and Stephanie Howard of defrauding customers. Current CEO Scott Carter is accused of making false or misleading statements. Each of the charged offenses carries a maximum penalty of one year in jail and maximum fines of between $1,000 and $10,000 per offense.

Other prominent conservatives who have endorsed Goldline? Former presidential candidates Fred Thompson and Mike Huckabee. I’m still trying to track down prominent Democrats who have endorsed Goldline. They must be around here somewhere.

9 replies on “Goldline Charged with Theft and Fraud”

  1. There’s a few liberal talkers who endorsed them as well. Randi Rhodes would be one and I think, though I could be wrong, Thom Hartmann. Though it is arguable if you can call either of them liberal.

  3. Who could’ve predicted? When that gold bubble bursts, I wonder how many people will be wiped out from that.

    @1 The liberals go for ITM Trading, which I’m wondering if they’re any better.

  5. Peter Schiff, a Republican who ran in a Connecticut Senator primary, posted on his June 1 2010 vlog that Goldline was ripping off customers by charging a 67% commission.

  6. In the case of the “liberal” radio people I bet it’s just about taking any advertising they can get. Beck actually believes this shit.

    Anyway, hands up everyone who’s surprised. Anyone?

  7. I never understand why they don’t issue charges for each instance of this. If they did it 10 times, give them 10 charges. If they defrauded 150 clients give them 150 charges. If that totals up to something absurd like 500 to 1000 years, who cares? Some ongoing crimes warrant life sentences.

  8. I doubt Glenn Beck is going to lose any money on this. Although his followers are going to find out maybe they shouldn’t have drunk the kool-aid…or bought the Dutch tulips.

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