By Sam Antar
Fraud Discovery Institute co-founder Barry Minkow released a 120 page open letter (including exhibits) to Securities and Exchange Commission Chairperson Mary Schapiro and Federal Trade Commission Chairman Jon Leibowitz, detailing a point by point rebuttal of every single allegation contained in New York Congressman Anthony Weiner's recent report alleging fraud, misrepresentation, and improper marketing practices by Goldline Inc., a frequent advertiser on the Fox News Glenn Beck show and other conservative talk shows. Please download and read Minkow's open letter here and Weiner's report here.
Congressman Anthony Weiner had called for the SEC and FTC to investigate certain alleged "shady practices" conducted by Goldline. However, Minkow called Congressman Weiner's allegations against Goldline "unfounded and politically motivated."
Minkow accused Weiner of trying to instigate a baseless investigation of Goldline in order to punish them for being the biggest advertiser for Glenn Beck, an outspoken political foe. In other words, Congressman Anthony Weiner is trying to cut-off advertising support for a program that presents points of views that he disagrees with, as evidenced by Barry Minkow's detailed rebuttal of Weiner's allegations against Goldline.
Read more here.
UPDATE: Important see Peter Schiff on aggressive Goldline mark up practices, here.
Well, we're talking about Barry Minkow here.. the ex mafia money landaurer turned born against Christian... I don't doubt Weiner's shady intentions, but Minkow has, or at least shouldn't have, any credibility whatsoever.
ReplyDeleteI don't know about fraud, but Schiff is saying that Goldline is marking up some 67%, where the industry standard is about 5%. While clearly this is unethical, I don't think there's any legal justification for Weiner.
ReplyDeleteAnd while we're talking about Weiner, I've seen that guy on CSPAN and interviews. He comes across as a really big jerk.