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Telemarketing Gold

Seniors are always a large target for scams, particularly those relating to telemarketing. Well, telemarketing scams that go after seniors have a new face. We have all seen the ads in the local paper and on tv: “Don’t sell your gold to a pawn shop. Call us. We’ll give you twice as much.” These mail-in commercials are growing in popularity, as the public needs to offload their jewelry made of precious metals. These people know that many seniors have loads of gold sitting around in their drawers. They also know many lost huge chunks of their nest egg in the market some years back and need alternate ways to get quick cash.

Where have many of these seniors gone? Florida of course. So begins our story:

The discussed increase in the value of precious metals was a enticing opportunity for a Florida telemarketing firm. The company, American Precious Metals, allegedly scammed senior citizens and other consumers out of more than $37 million, according to the Federal Trade Commission.

A federal judge shut down American Precious Metals, per a request from the FCC, which has charged the firm and owners Harry R. Tanner Jr. and his wife, Andrea Tanner, with violating federal law and the FTC’s rules for telemarketing sales. The company and its owners have offices and facilities in both Deerfield Beach,FL and Pompano Beach,FL. Its customers, including many senior citizens, came from around the country, according to the FTC and court documents.

The FCC wasn’t the only one to have its peace said. The Commodity Futures Trading Commission also charged the company, Harry Tanner and another man, Samuel Goldman, with violating laws covering the sale of precious metals contracts.