Goldline Hired 3 ‘Boiler Room’ Salesmen Sued By SEC
Congress will open hearings Thursday into the controversial sales practices of Goldline, the precious metals dealer that pioneered the practice of weaving its sales pitches into broadcasts by popular conservative political personalities such as Glenn Beck, Mike Huckabee and Fred Thompson.
Rep. Anthony Weiner, the New York Democrat who called the hearings, described Goldline sales tactics as a “profound rip-off” in an interview with ABC News. He plans to focus on methods that have turned the sale of gold coins into a multi-million-dollar bonanza for Goldline and other firms, especially in recent years as economic uncertainty has turned gold into a hot investment. The company, which is sending a top executive to testify, has said Weiner’s attacks are motivated by “a political agenda.”
But ABC News has learned the hearings may also draw attention to some of the controversial figures involved in the company, and activities they engaged in prior to taking jobs on the Goldline sales force.
Among them are three Goldline sales associates who were taken to court in the 1990s by the Securities Exchange Commission on allegations that they used deceptive mass mailings and what are sometimes called “boiler room” tactics to defraud 115 mostly elderly investors out of $1,180,000 over 13 months, according to court records. The scheme allegedly involved selling shares in a 1-900 telephone line. Investors were allegedly promised 24 percent returns after a four-month period or a 203 percent return after a sixteen-month period — estimates the SEC called highly misleading and false, the court papers say.
Paul Land, Charles Boratgis and Morrey Wasserman settled the case without conceding guilt, but agreed to return all the money they had been accused of obtaining through their allegedly fraudulent scheme.
Cigarette smoke causes immediate damage to the lungs and to DNA, and President Barack Obama’s administration will make stop- smoking efforts a priority, federal health officials said on Thursday.
Smoking hurts not only the smokers, but people around them, and taxes, bans and treatment all must be used together to help get smoking rates down, U.S. Surgeon-General Dr. Regina Benjamin said in a report on smoking.
“The chemicals in tobacco smoke reach your lungs quickly every time you inhale causing damage immediately,” Benjamin said in a statement.
“Inhaling even the smallest amount of tobacco smoke can also damage your DNA, which can lead to cancer.”
I have mentioned many times before that I have gotten back in to Boxing this year as serious as I have ever been since I boxed Golden Gloves as a young pup. Working out seven days a week, and sparring three times per week.
Along with jumping rope, one of the things that has helped me get back into top form is Shadow Boxing. Watch one of the best:
Sergio Martinez Shadow Boxing
His footwork, tempo and rhythm are excellent. He just keeps his hands so low. But its working for him, so who am I to say anything.
Good video of some Sergio Martinez Hightlights:
The very beginning of the video he does a shuffle left then an off beat, off tempo, perfectly timed shot. Perfectly. One of my favorite moves.
In other news, here is an interesting article about Stephen A. Schwarzman:
“The United States is going through a difficult time politically, and having other types of issues that everybody in this group knows about,” Mr. Schwarzman told the conference, adding, “The political calculus of the last two years hasn’t resulted in a winning calculus.”
Among the European assets he’s examining: Irish real estate, which he believes will be soon available at bargain-basement prices as a result of Ireland’s sovereign debt crisis.
“They just set up a massive R.T.C.,” Mr. Schwarzman said, referring to the Resolution Trust Corporation, the government agency that liquidated assets seized during the savings and loan crisis in the United States. “They barely know what they own.”
But he does not like every foreign market, expressing relief that Blackstone stayed away from Spanish real estate in 2006, and noting that in parts of Europe throughout the last few years, “the risk/reward equation was really wrong.”
He also cautioned investors to remain patient in the face of economic unrest, and to wait for signs of improvement until investing heavily in distressed foreign markets.
“You want to wait until there’s really blood in the streets,” he said, adding, “You’re better off paying 10 percent more into a healing situation than trying to pick bottoms.”
I have mentioned before that The Legendary 5th Street Gym in Miami Beach has recently re-opened and I plan to be there soon. My father, Michael John Mason VI, used to take me there as a young pup and that was where I first met Muhammad Ali (among others). I can’t wait to go back. It’s already locked in stone on my schedule. Congratulations to Angelo Dundee, Dr. Ferdie Pacheco, Tom Tsatas, Matt Baiamonte and Dino Spencer for making it happen. This is a huge one in the win column and a true sign that The Apocalypse is Not coming. At least not yet anyway.
The History of 5th St. Gym, Miami Beach
Muhammed Ali:5th Street Gym
The Fight Years (documentary trailer) 5th Street Gym
