One of Glenn Beck’s big gold sponsors is in some serious trouble:
Glenn Beck might, for once, be right: the government iscoming 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.
(h/t Cesca)
Of course I’m sure Beck feels this is all proper and just part of the free market system. Now I’m waiting for him to go after the evil, socialist government for shutting down these fraudsters.