this post was submitted on 25 Jul 2023
4 points (100.0% liked)

News

11 readers
2 users here now

Breaking news and current events worldwide.

founded 2 years ago
 

Ads for gold coins have become a mainstay on Fox News, Newsmax and other conservative outlets, even as regulators have accused some companies of defrauding elderly clients.

top 2 comments
sorted by: hot top controversial new old
[–] HubertManne@kbin.social 4 points 2 years ago

gold for older right wing and bitcoin for younger.

[–] btaf45@kbin.social 2 points 2 years ago

[One such ad caught the attention of Terry White, a disabled retiree from New York. In 2018, White invested $174,000 in the coins, according to a lawsuit by the New York attorney general — only to later learn that Lear charged a 33 percent commission.

Over several transactions, White, 70, lost nearly $80,000, putting an “enormous strain” on his finances, said his wife, Jeanne, who blames Fox for their predicament: “They’re negligent,” she said. A regretful White said he thought Fox “wouldn’t take a commercial like that unless it was legitimate.”]