Friday, February 23, 2007

Rare coin dealers face $500M lawsuit (Resource Investor)

Consumers from 10 states have sued a group of telemarketers for fraud and deceptive trade practices in the marketing of “rare” coins, according to a press release by the Gibson Law Firm, representing the consumers.

In a lawsuit filed in state court in Beaumont, Texas, 21 affiliated companies are accused of using high-pressure, unlawful telemarketing tactics to convince senior citizens and others to buy gold, platinum and silver coins of dubious worth and origin. . . .

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