Things are a little less glittery in Beck town today;

The complaint alleges that Goldline ‘runs a bait and switch operation in which customers, seeking to invest in gold bullion, are switched to highly overpriced coins by using false and misleading claims,’ according to a statement released by the consumer affairs division of the Santa Monica City Attorney’s office.

The company has been charged in the court filing with misdemeanors that include theft by false pretenses, false advertising, and conspiracy, the City Attorney’s office said. In addition to the charges against the company, the complaint accuses former CEO Mark Albarian, executives Robert Fazio and Luis Beeli, and salespeople Charles Boratgis and Stephanie Howard of defrauding customers. Current CEO Scott Carter is accused of making false or misleading statements.

Each of the charges carries a maximum penalty of one year in jail and maximum fines of between $1,000 and $10,000 per offense.

While former Fox News conspiracy-theorist Glenn Beck is most closely associated with Goldline, Rush Limbaugh, Sean Hannity, Laura Ingraham, and Mark Levin, former GOP presidential candidates Mike Huckabee and Fred Thompson, and several Fox News hosts, among others, have all endorsed the company.

What a shocking development.
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