Larry Bates precious-metals business built on a structure of ongoing deception has collapsed. A federal judge in Memphis put Bates, his precious-metals business called FAMC and all of his' personal assets into receivership. Then on October 29, the court bought Bates and receiver John Ryder, back to court to check on its development.
Bates informed the court that his business has completely collapsed and he's not even able to pay lenders. He asked the court to unfreeze his personal assets.
For the moment, these new changes leave unresolved the $80-million class-action suit that was brought by his clients two years earlier, and many of these informed us at Unreported World News about exactly how he had defrauded them.
Over a period of many years now, Bates has methodically ripped off his client to the tune of millions in precious metals by withholding and reducing deliveries of gold and silver coins and various other investments that they had actually ordered. He then began making excuses and creating obfuscations when they requested satisfaction of their orders.
Today's action was an act of divine blessing for the suffering Bates created in his precious-metals business and for his slander of Unreported World News. Bates has tarnished us over the last few years continuously and he did it again today, in court in Memphis, primarily blaming Anne Trimble and other people for the death of his operation.
Bates and his firm complained about the degree of their personal difficulties despite the plaintiffs' righteous outrage over their fraudulent business practices. They told the court a couple of weeks ago that they not had lawful guidance in the class-action suit brought by Damian Orlowski and various other victims. The court offered FAMC a month to come up with new guidance, but it didn't.
Separately, in a letter dated September 26, Chuck Bates, Larry Bates' son, informed the court that the firm was almost out of business and that Larry Bates himself was sick.
Certainly, we do pray for Larry Bates' health, but make no mistake that the evident failing of his lawful defense indicates that justice now stands a very good chance of coming through in the class-action situation. Bates was well enough to show up in court by Monday.
These drastic changes in fortune for Bates do appear to be producing the sure and steady collapse of what was once the tenth biggest precious-metals business in the United States.
Bates informed the court that his business has completely collapsed and he's not even able to pay lenders. He asked the court to unfreeze his personal assets.
For the moment, these new changes leave unresolved the $80-million class-action suit that was brought by his clients two years earlier, and many of these informed us at Unreported World News about exactly how he had defrauded them.
Over a period of many years now, Bates has methodically ripped off his client to the tune of millions in precious metals by withholding and reducing deliveries of gold and silver coins and various other investments that they had actually ordered. He then began making excuses and creating obfuscations when they requested satisfaction of their orders.
Today's action was an act of divine blessing for the suffering Bates created in his precious-metals business and for his slander of Unreported World News. Bates has tarnished us over the last few years continuously and he did it again today, in court in Memphis, primarily blaming Anne Trimble and other people for the death of his operation.
Bates and his firm complained about the degree of their personal difficulties despite the plaintiffs' righteous outrage over their fraudulent business practices. They told the court a couple of weeks ago that they not had lawful guidance in the class-action suit brought by Damian Orlowski and various other victims. The court offered FAMC a month to come up with new guidance, but it didn't.
Separately, in a letter dated September 26, Chuck Bates, Larry Bates' son, informed the court that the firm was almost out of business and that Larry Bates himself was sick.
Certainly, we do pray for Larry Bates' health, but make no mistake that the evident failing of his lawful defense indicates that justice now stands a very good chance of coming through in the class-action situation. Bates was well enough to show up in court by Monday.
These drastic changes in fortune for Bates do appear to be producing the sure and steady collapse of what was once the tenth biggest precious-metals business in the United States.
About the Author:
Learn more about precious metal investing. Stop by Anne Trimble's site where you can find out all about gold and silver and what it can do for you.
You know your projects stand out of the herd. There is something special about them. It seems to me all of them are really brilliant!
ReplyDeleteSafeco home insurance