Wednesday, December 8, 2010

Assets of Los Angeles Gold Dealer Seized

A judge froze the assets of Superior Gold Group on Monday after it was accused of fraudulent business practices in a civil lawsuit against the company and owner Bruce Sands filed by the Los Angeles County district attorney and the Santa Monica city attorney.

The company, which sold gold coins and bullion and other precious metals, took payments from customers and never provided the gold ordered, charged prices much higher than fair market value and misled customers into buying expensive specialty coins, the agencies contended in their lawsuit, filed Friday, reports LaTi.

1 comment:

  1. Fair market value? The american government still uses such medieval standards? I'm sadly surprised.