Among the many paradoxical things about the court-ordered dismantling of Larry Bates' ill-gotten monetary empire is that a consistent part of his lawful self defense was to disregard as plain "anecdotes" the specific stories of sufferers created by the deceitful practices of his precious-metals firm, FAMC.
The painful truth of those little "stories" has amounted to a cumulative judgment by precious-metals clients around the United States that Bates and FAMC are "guilty" of not deserving their business at all. That's why Bates was in court in Memphis on Monday as his company and possessions entered into receivership.
And in time, those "anecdotes" also will come into play again as a court rules on the $80-million class-action suit brought against Bates and his company by many of the victims of their deceitful practices. Among other things, they materially shorted and delayed deliveries of lawfully ordered gold and silver, defrauding their customers out of a total of many hundreds of thousands of dollars.
To us, these aren't merely "anecdotes" but the actual stories of real individuals who were exploited in a bad way. We feel the pain of these numerous individuals whom Bates cheated for many years. We directly assisted many of them, helping them understand just how he was cheating them. We guided several of them to seek legal help, which then materialized in this class-action suit.
We are humbled that the Lord picked us to deliver a form of earthly justice to this man and his company who earned so much of their business by pretending to follow "Christian" principles.
Now, in the wake of Monday's court proceedings, we are hearing more "anecdotes" in the form of appreciations for the work we have done to inform and attempt to protect Bates' victims.
"Many thanks for all your hard work!" read one e-mail. "You were 'anointed' for this. I luckily got my gold (assume it is gold) [from FAMC] and when I didn't get my silver order after years, they finally sent me a check with an increase as price had gone up. But I am [not sure] what I would have gotten had I actually gotten the silver."
The unfortunate aspect of this entire business is that Bates continued to create victims even when his house of cards was collapsing all around him. One man we just recently heard about had actually waited for more than a year to obtain a check for a trade he'd made. FAMC had the precious metal coins, yet the man didn't get his $30,000 from Bates.
And now, sadly, it's looking like he probably never will. That's one more "anecdote" Bates can dismiss.
The painful truth of those little "stories" has amounted to a cumulative judgment by precious-metals clients around the United States that Bates and FAMC are "guilty" of not deserving their business at all. That's why Bates was in court in Memphis on Monday as his company and possessions entered into receivership.
And in time, those "anecdotes" also will come into play again as a court rules on the $80-million class-action suit brought against Bates and his company by many of the victims of their deceitful practices. Among other things, they materially shorted and delayed deliveries of lawfully ordered gold and silver, defrauding their customers out of a total of many hundreds of thousands of dollars.
To us, these aren't merely "anecdotes" but the actual stories of real individuals who were exploited in a bad way. We feel the pain of these numerous individuals whom Bates cheated for many years. We directly assisted many of them, helping them understand just how he was cheating them. We guided several of them to seek legal help, which then materialized in this class-action suit.
We are humbled that the Lord picked us to deliver a form of earthly justice to this man and his company who earned so much of their business by pretending to follow "Christian" principles.
Now, in the wake of Monday's court proceedings, we are hearing more "anecdotes" in the form of appreciations for the work we have done to inform and attempt to protect Bates' victims.
"Many thanks for all your hard work!" read one e-mail. "You were 'anointed' for this. I luckily got my gold (assume it is gold) [from FAMC] and when I didn't get my silver order after years, they finally sent me a check with an increase as price had gone up. But I am [not sure] what I would have gotten had I actually gotten the silver."
The unfortunate aspect of this entire business is that Bates continued to create victims even when his house of cards was collapsing all around him. One man we just recently heard about had actually waited for more than a year to obtain a check for a trade he'd made. FAMC had the precious metal coins, yet the man didn't get his $30,000 from Bates.
And now, sadly, it's looking like he probably never will. That's one more "anecdote" Bates can dismiss.
About the Author:
Want to find out more about precious metal investing, then visit Anne Trimble's site on how to buy gold and silver.
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