Judge Freezes Assets of Beck's Gold Advertiser

[kpete]

Source: Mother Jones

Judge Freezes Assets of Beck's Gold Advertiser

— By Stephanie Mencimer
| Wed Dec. 8, 2010

Glenn Beck might, for once, be right: the government is coming for your gold. But only if you happened to buy it from one of Beck's advertisers, the Superior Gold Group. At the request of prosecutors from LA County and Santa Monica city who have filed a civil suit against the company, Los Angeles County judge has ordered that Superior Gold be placed into receivership and all of its assets—bank accounts, real estate, and presumably gold stored for customers—frozen. On Monday, a court-appointed lawyer actually physically seized control of the company, presumably to prevent further wrongdoing. The lawsuit alleged that among other things, Superior had defrauded its customers by overcharging them, fraudulently inducing them to buy overpriced collectors' coins rather than the bullion that they wanted, and taking customers' money for coins they never produced. The prosecutors hope that the lawsuit will provide restitution for all of the company's ripped off customers. The judge will hold a hearing later this month to decide whether the company's assets should remain frozen until the case goes to trial.

Putting a company in receivership is a pretty drastic and very rare move for a judge in a civil case. It does not bode well for Beck's other and much bigger gold advertiser, Goldline, which has also been accused of very similar tactics, as Mother Jones documented earlier this year. The California prosecutors are also investigating Goldline. Both companies have claimed that they were targeted solely because of liberal outrage about Beck's political viewpoints, and touted their outstanding ratings from the Better Business Bureau in their defense. But the dramatic business seizure on Monday of Superior Gold suggests that the consumer complaints were not only legitimate, but that the situation may be worse there than any of the critics suspected. Whether Goldline is in the same boat is hard to know, but the swift takeover of Superior Gold has to be making Goldline (and Beck, too) awfully nervous.

Read more: http://motherjones.com/mojo/2010/12/superior-gold-judge-freezes-assets-glenn-beck

[WhiteTara]

1. well, I like this!

Let's see the hate monger make it without his millions.

[cutlassmama]

2. Bwahahahahahahahahaha!!!!

[iamtechus]

3. Do either of those gold co's advertise on Hartman or Schultz?

[Grassy Knoll]

11. Probably,......

But you don't hear Hartman or Schultz , go one the air
to promote their advertisers shady scams like Beckkk does.

http://www.youtube.com/watch?v=GlworUA84k4

[spooky3]

4. There is some justice - if it were only Beck's followers who got snookered

Hope no innocent parties got caught up in this.

[indimuse]

5. weeee!!

LOL!!!!!!!


kkkkkkknnnnnnnnrrrrrrrrrr!!!!!!!!!

[tanyev]

6. He's gonna turn his paranoia up to 11 now.

[TheEuclideanOne]

7. What's next, his Snake Oil supplier?

This is rich!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
(no pun intended)


I have seriously considered a business plan aimed strictly at Republicans. Actually still considering it.

[Luciferous]

8. Oh goody, another reason for Beck to cry

:eyes:

[Grassy Knoll]

9. LOL, Snoopy dance....

[dixiegrrrrl]

21. Sounds appropriate, may I join in?

[gratuitous]

10. Whoa, receivership

As the article notes, that's a pretty drastic step for a court to order, and involves the actual physical takeover of the outfit. This is very bad news for the Superior Gold Group, anyone that's owed money from them, and anyone whose assets are held by them. I imagine that if Superior is behind on paying for their ad buys, the media outlets might just as well eat those receivables as expect to collect anything on them.

[sasha031]

12. Judge Freezes Assets of Beck's Gold Advertiser

Source: Mother Jones

Glenn Beck might, for once, be right: the government is coming for your gold. But only if you happened to buy it from one of Beck's advertisers, the Superior Gold Group. At the request of prosecutors from LA County and Santa Monica city who have filed a civil suit against the company, Los Angeles County judge has ordered that Superior Gold be placed into receivership and all of its assets—bank accounts, real estate, and presumably gold stored for customers—frozen. On Monday, a court-appointed lawyer actually physically seized control of the company, presumably to prevent further wrongdoing. The lawsuit alleged that among other things, Superior had defrauded its customers by overcharging them, fraudulently inducing them to buy overpriced collectors' coins rather than the bullion that they wanted, and taking customers' money for coins they never produced. The prosecutors hope that the lawsuit will provide restitution for all of the company's ripped off customers. The judge will hold a hearing later this month to decide whether the company's assets should remain frozen until the case goes to trial.

Putting a company in receivership is a pretty drastic and very rare move for a judge in a civil case. It does not bode well for Beck's other and much bigger gold advertiser, Goldline, which has also been accused of very similar tactics, as Mother Jones documented earlier this year. The California prosecutors are also investigating Goldline. Both companies have claimed that they were targeted solely because of liberal outrage about Beck's political viewpoints, and touted their outstanding ratings from the Better Business Bureau in their defense. But the dramatic business seizure on Monday of Superior Gold suggests that the consumer complaints were not only legitimate, but that the situation may be worse there than any of the critics suspected. Whether Goldline is in the same boat is hard to know, but the swift takeover of Superior Gold has to be making Goldline (and Beck, too) awfully nervous.

Read more: http://motherjones.com/mojo/2010/12/superior-gold-judge-freezes-assets-glenn-beck

---

[cutlassmama]

13. Bwahahahahahahahahaha!!!! Love the Beck crying pic!

[sasha031]

15. it is great

[calimary]

25. Aw glenn - whatzamatta u? Can't "man up"?

That's all your republi-CON girlfriends have talked about since they first started grabbing attention (palin, o'donnell, angle, etc.)!

:nopity: :nopity: :nopity: :nopity: :nopity: :nopity: :nopity:

[Angry Dragon]

14. Now to go after beck for schilling for them

He should have to pay back all the money he collected from them plus interest and fines

[Anakin Skywalker]

16. Ha ha ha! Enjoy your gold, you nuggets!

[aquart]

17. It's nice to hear good news for a change.

[Plucketeer]

18. AWWWWWWWWWWWWWWWWWWWW.........

Did some nasty ol' guvamint sort initiate a golden shower on Beckie's parade??? LOL!!! :rofl:






Beck Gold Investor depicted below

[Chimichurri]

19. If they're questioned, Beck will scream bloody murder that the

government is targeting him for being a patriot. Watch his stupid minions really become the American Taliban.

[paparush]

20. Damn Activist Judges! How do they work?

BWAHAHAHAHAHA
:rofl:

[MindandSoul]

22. Best news of the day! It actually made me smile!

[wordpix]

24. first time this week I'm laughing at something in politics, rofl

:rofl:

[Swagman]

23. customers should sue Beck & Faux for encouraging them to buy !!