Goldline Faces Wrongful Termination Suit Over Upsell Allegations
You might know Goldline from your guilty-pleasure of staying up late watching re-runs of Glenn Beck and Sean Hannity with Ben & Jerry’s in hand missing the days when Bush was leading the charge. But, others know Goldline of their sordid legal past. Well, it continues this week as Goldline’s former compliance officer is claiming she was fired for complaining to her bosses that she was being prevented from speaking with a court-ordered monitor from an earlier case in which Goldline was charged with misleading consumers. The former employee is suing Goldline in LA for wrongful termination. Her complaint:
“Goldline specifically targets vulnerable consumers with sales tactics designed to pressure those consumers into buying products that would often result in the consumer losing over one-third of his or her investment the instant the purchase is made meaning that, even when the price of the precious metals increases, because these consumers were deceived into purchasing coins with mark-ups exceeding 50 percent, it could be years, if ever, before the consumer recoups, much less makes any profit on, the investment.”
It appears Beck is not the best judge of characters:
“Before I started turning you on to Goldline, I wanted to look them in the eye. This is a top notch organization that’s been in business since 1960.”
Prior investigations into the company, namely by Anthony Weiner’s office, found that executives were pressuring employees to skirt ethical concerns. “We spoke to numerous former employees who were conflicted with the tactics being used,” he said. “However, management set the system up to only reward those that were able to push those concerns aside. One employee told me that if he didn’t upsell customers to semi-collectible coins from regular bullion, his commission check wouldn’t be enough to afford a sandwich.”
Goldline has long been suspected of baiting particulary elderly customers, scaring them into numismatic coins – away from the cheaper bullion coins – with warnings that the government will steal their coins…unless they are collectibles. Which is absurd. I can only see it now: the military busts into grandpa’s home and searches the house for gold and silver. When it is found, the militarymen with their machine guns in hand. leave it behind, for it was collectible.