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Scattered around the Los Angeles area is a small but robust industry that pours large sums into advertising on right-wing media, from Fox News to Newsmax to Rudy Giuliani’s podcast. Phone salespeople push gold and silver coins to these outlets’ audiences, many of them older people, convincing them to use their retirement savings to purchase considerable quantities of precious metals. The problem is, the markup on the coins is often huge, and many vulnerable customers lose big chunks of their life savings. To date, customers, along with local, state and federal authorities have sued more than a dozen of these companies, alleging fraud.
Scattered around the Los Angeles area is a small but robust industry that pours large sums into advertising on right-wing media, from Fox News to Newsmax to Rudy Giuliani’s podcast. Phone salespeople push gold and silver coins to these outlets’ audiences, many of them older people, convincing them to use their retirement savings to purchase considerable quantities of precious metals. The problem is, the markup on the coins is often huge, and many vulnerable customers lose big chunks of their life savings. To date, customers, along with local, state and federal authorities have sued more than a dozen of these companies, alleging fraud.