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Mint issues advisory on Obama coins

Wednesday, 19 May 2010 21:28 | Print | Email

: Created: Wednesday, 19 May 2010 21:28

December 02, 2008

Cable television viewers have been treated recently to a deluge of ads for a "Barack Obama Inaugural Dollar," a "genuine" dollar produced by the "New England Mint."

It can be yours for a mere $9.95.

Now, the real U.S. Mint has issued an advisory about the coins, warning consumers that the coins aren't official government tender, but merely plastic coating on real dollar coins.

Obama Collector's Coins Turn Out To Be Stickers Stuck On Regular Coins

Wednesday, 19 May 2010 21:26 | Print | Email

: Created: Wednesday, 19 May 2010 21:26

By Chris Walters on February 14, 2009

You may have seen the commercial where Montel Williams hawks some goofy collectible coins with President Obama's face IN FULL COLOR OMG. If you were planning on ordering some, though, watch this video from KATU 2 TV in Portland, Oregon first.* A father and daughter bought the coins and discovered that they're just regular money with color stickers applied. One of the news anchors even comments that she could see the face on the coin through the sticker when she looked at it from the side.

Cox Files Civil Complaint in War Coin Scam

Wednesday, 19 May 2010 21:22 | Print | Email

: Created: Wednesday, 19 May 2010 21:22

April 21, 2003

            Lansing, MI – Attorney General Mike Cox today filed a civil suit against Jeffrey Razet, owner and operator of Razmataz, LLC, (www.razmatazcoins.com and www.razmatazgifts.com), a Sterling Heights business claiming to sell “Operation Freedom” coins in order to help troops fighting the war in Iraq.

            On April 9, Cox warned Razet in a Notice of Intended Action (NIA) that he had 10 days to clean up his deceptive Internet advertising, stop misrepresenting the contributions that U.S. soldiers will receive from the company, and provide the Attorney General’s office with specific information regarding the companies activity. While the Razmataz website was not operational as of Friday, April 18, 2003, Mr.Razet has twice failed to meet with the Attorney General’s office in order to provide additional information.

            “Mr. Razet has had ample opportunity to present his case to this office and yet he refuses to do so,” said Cox. “I will not allow Mr. Razet any more time to rip anyone else off by playing on their patriotic emotions. Today, we are moving forward with the court case and will be seeking to recover any funds that Mr. Razet was able to get by duping consumers into his scam.”

            The complaint alleges that in addition to engaging in fraudulent activity, Razet violated Michigan’s Consumer Protection Act (MCPA) and Uniform Trade Practices Act (MUTPA).   Relief sought under the MCPA and MUTPA include restitution to consumers and/or damages, and civil penalties of up to $25,000.

Source: http://www.michigan.gov/ag/0,1607,7-164-34739_34811-66391--,00.html

COIN DEALER SENTENCED IN MULTI-MILLION DOLLAR FRAUD AND CONSPIRACY

Wednesday, 19 May 2010 21:19 | Print | Email

: Created: Wednesday, 19 May 2010 21:19

Defrauded Victims Include Novelist Tom Clancy

July 14, 2000

Baltimore - Attorney General J. Joseph Curran, Jr., announced today that Richard Scott, 54, of Alexandria, Virginia, was sentenced in Prince George’s County Circuit Court today to 11 years in prison, all but 18 months suspended and to be served in the form of home detention. Scott was fined $20,000, all but $10,000 suspended. Mr. Scott is gravely ill due to the ravages of diabetes, liver and kidney failure, congestive heart failure and poor circulation.