Glenn Beck’s Favorite Gold Company Charged With Fraud

Glenn Beck shills for Goldline in 2010.Courtesy of Glenn Beck

Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.

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. Beck’s pitch went a step further, arguing that in the event of a total financial meltdown, the government would confiscate gold bullion—meaning you should invest your money in coins instead. 

You can check out the full complaint here:

 

 

The charges today are the culmination of a yearlong investigation from the city attorney’s office. Each of the counts carries a maximum sentence of one year in prison or a $10,000 fine.

Update: Brian Ross gets the company’s response:

“The company will vigorously contest the allegations,” Brian Crumbaker, Goldline’s Executive Vice President, said in a statement emailed to ABC News early Wednesday. “We believe Goldline has industry best-practices in customer disclosures enabling the most informed decisions.”

We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

payment methods

We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate