American buyers have usually looked towards the Better Business Bureau (BBB) for guidance on exactly where to devote our funds, especially when investing. We rely on the quality of BBB information and facts, assuming they are actually focused on customer satisfaction and may be trusted for impartiality. Nonetheless, reports are now arising that in truth, the BBB is not working for the public, but rather sells high rankings and removes customers’ complaints from its internet site for all those corporations willing to pay a premium.

Recent investigation of North American precious metals dealer Goldline International has resulted in allegations by the Santa Monica City Attorney of unfair organization practices – in spite of assurance through an “A” rating from the BBB that the company’s dealings were sound. Goldline customers believed their option for acquiring gold and silver bullion, coins, and investments was a solid one, not realizing that the corporation had much more than 100 complaints filed. The BBB, too late, downgraded Goldline to its lowest “F” status, but only as a result of the legal issues.

Accused criminal activity by Goldline consists of bait and switch schemes, elder abuse, conspiracy, false marketing, and grand theft by false pretense. Goldline is alleged to have provided gold and silver bullion, and then convinced shoppers to buy rare coins rather, charging unreasonably high commissions – occasionally in excess of 2000%. With a business normal of roughly 15% commissions, Goldline’s are clearly excessive.

On the other hand, till the Santa Monica City Attorney’s public condemnation of Goldline’s practices, the BBB rated it an “A”, and ignored the results of all regular analysis. This may well be, as reported by some investigators, a result of the BBB’s practice of accepting compensation in exchange for improved rankings and deletion of complaints.

The issue isn’t just restricted to Goldline’s rating, as shown by the BBB data for other precious metals dealers in Southern California:

Goldline International, Inc. F* Rating 73 Complaints
Monex Deposit Company A+ Rating 69 Complaints
Capital Gold Group, Inc. A- Rating 14 Complaints
Lear Capital Inc A+ Rating 55 Complaints
Merit Financial Services A+ Rating 47 Complaints
*Change from “A” following Santa Monica City Lawyer complaint filed.

Clearly, many companies are enjoying “A+” status, regardless of several client issues. Executives of Goldline listed within the Santa Monica City Attorney’s filing consist of the following: former CEO Mark Albarian, present CEO Scott Carter, Robert Fazio, Luis Beeli, Charles Boratgis and Stephanie Howard. Notably absent are the BBB executives who facilitated the fraud by giving consumers biased info. Till the BBB stops selling its rankings to any enterprise with capital to spend, the 80 year old “pay to play” practice will continue to mislead American buyers. The public ought to demand that these BBB officials be held accountable alongside Goldline:

Stephen A. Cox (aka Steve Cox) – President/CEO
Beverly Baskin – Senior VP
Genie Barton – Vice President and Director, On-line Behavioral Marketing Program
Rodney L. Davis – Senior VP Enterprise Programs
Joseph E. Dillon – VP and CFO
Victoria Doran – VP Brand & Digital Media
Chris Garver – Senior VP, Chief Information and facts Officer
Frances Henderson – National Director, Privacy Initiatives
Susan Kearney – Senior VP & Chief Marketing Officer
Wayne J. Keeley – VP & Director, CARU
Elaine Kolish – VP & Director Children’s Food & Bev
Andrea C. Levine – Senior VP, NAD
Brenda Linnington – Director, BBB Military Line
Peter Marimello – VP, Electronic Retail Self Regulation Program
C. Lee Peeler – EVP & President NARC
Steven Salter – VP, Standards & Services
Anaise Schroeder – VP Human Resources
H. Art Taylor – President & CEO, BBB WGA
Mary Lou Watkins – Senior VP, Chief of Staff
Bennett Weiner – VP, CBBB & COO, BBB WGA
Richard Woods – VP, General Counsel
Vincent L. Gottuso – President, Southland BBB Office
Mary Lou Diaz – Director of Consumer Services, Southland BBB Office
Mr. Tom Bartholomy – President/CEO
Ms. Janet J. Robb – President
Ms. Jan Quintrall – President
Mr. Matthew Fehling – President
Mr. Edward J. Johnson, III – President and CEO

BBB leaders cannot be allowed to profit on the backs of the working class. Prevent further fraud by taking these steps to add your voice to the issue:

Get in touch with the BBB: Send your complaint to the Council of Better Business Bureau, 4200 Wilson Blvd, Suite 800, Arlington, VA 22203-1838 – Phone: 703-276-0100 – Fax: 703-525-8277

Contact your state Attorney General: Use the facts listed on your state government’s website, or use your internet search engine to locate your nearest office. Tell them that deceptive and unfair trade practices by the Better Business Bureau must not be tolerated.

Write towards the Federal Trade Commission (FTC): Use the convenient online contact form at https://www.ftccomplaintassistant.gov/ to share your concerns.

In today’s tough economy, we cannot afford to have our trust violated by greedy corporations. Protect yourself and all shoppers by taking action to put the Better Business Bureau out of small business.