Larry Bates, as well as his business, have actually been forced into receivership in the federal district court in Tennessee due to numerous complaints from a growing number of customers about his astonishing level of dishonesty; and now, as a result, he is facing an $80-million class-action suit.
But still, heartbreaking news continues to stream in of more individuals that Bates managed to cheat before his business reached its just end.
I'm posting two true stories here that deeply upset me. A woman contacted me recently after her father transitioned. While organizing her mother's affairs, she saw some statements from FAMC that went back all the way to 2009.
Without a word to their children, this couple had gone ahead and given Bates' business a half-million dollars of their investment funds. They bought gold from FAMC. And to this day, they have not received any.
These individuals got just a few gold coins as proof of their purchase. Although one could argue that they did ask FAMC to save their metals for them, I find it curious that FAMC simply can't find a way to produce them now?
The other story is of a lady who takes care of her quadriplegic boy. He was granted a large sum of money as compensation for a life-altering accident. Although they sent Larry Bates several hundred thousand dollars as far back as the year 2008, they never got any metals.
These two rip-offs alone amount to a staggering total of $4 million.
These are among the indications that FAMC may have been running a Madoff-style Ponzi scheme as well as ripping off its customers in many other ways " all under the evil guise of a Christian" financial counseling company that could be trusted.
The more I learn, the more horrified I become. As I pay attention to these stories of calamity, I am appalled at the level of iniquity involved. All of this bring up another memory of yet another business owner, additionally someone professing to be a devout Christian. This person took half-a-million dollars and my business away from me and my husband. This happened twenty years back and it's in my biographical publication, Faith Through the Flames".
But still, heartbreaking news continues to stream in of more individuals that Bates managed to cheat before his business reached its just end.
I'm posting two true stories here that deeply upset me. A woman contacted me recently after her father transitioned. While organizing her mother's affairs, she saw some statements from FAMC that went back all the way to 2009.
Without a word to their children, this couple had gone ahead and given Bates' business a half-million dollars of their investment funds. They bought gold from FAMC. And to this day, they have not received any.
These individuals got just a few gold coins as proof of their purchase. Although one could argue that they did ask FAMC to save their metals for them, I find it curious that FAMC simply can't find a way to produce them now?
The other story is of a lady who takes care of her quadriplegic boy. He was granted a large sum of money as compensation for a life-altering accident. Although they sent Larry Bates several hundred thousand dollars as far back as the year 2008, they never got any metals.
These two rip-offs alone amount to a staggering total of $4 million.
These are among the indications that FAMC may have been running a Madoff-style Ponzi scheme as well as ripping off its customers in many other ways " all under the evil guise of a Christian" financial counseling company that could be trusted.
The more I learn, the more horrified I become. As I pay attention to these stories of calamity, I am appalled at the level of iniquity involved. All of this bring up another memory of yet another business owner, additionally someone professing to be a devout Christian. This person took half-a-million dollars and my business away from me and my husband. This happened twenty years back and it's in my biographical publication, Faith Through the Flames".
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This article collected, selected and written by: Author Van Hoc
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