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Gold Bars

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BUSINESS
November 20, 2010 | Michael Hiltzik
In these troubled economic times, it's not hard to understand why people might want to protect their life savings by purchasing a hard asset like gold or silver. At least, that's the pitch of Monex, the big Newport Beach investment firm, which bills itself as "America's trusted name in precious metals investments" and assures clients that it's "committed to customer service. " So let's take a look at the experiences of some customers who say their trust in Monex was misplaced.
ARTICLES BY DATE
CALIFORNIA | LOCAL
December 12, 2013 | By Emily Foxhall
An Orange County Lamborghini dealership, which already prided itself on selling more cars than any other in the country, may now have hit the car sales jackpot. This week, the dealership shipped its first-ever vehicle purchased using a digital currency known as bitcoin . A second sale to a bitcoin user was being processed Wednesday, the Daily Pilot reported. "That's pretty good," Cedric Davy, marketing director at Lamborghini Newport Beach, said with a hint of astonished glee.
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BUSINESS
January 21, 2012 | By Tiffany Hsu, Los Angeles Times
You've got the haute couture outfit and designer jewelry. So, what's next? How about gold bullion bars designed by the enfant terrible of French haute couture, Jean Paul Gaultier? The fashion industry bad boy has been in vogue for decades — he designed Madonna's much-ballyhooed cone-shaped bra, a line of skirts for men and outfits for rocker Marilyn Manson. Now he's reworking one-ounce bars of gold, charging about $1,830 (along with a $25 handling fee) for each.
BUSINESS
October 17, 2013 | By Stuart Pfeifer
The former chief financial officer of an Orange County technology company was sentenced to more than four years in federal prison for stealing about $15 million from the company. Jean Joseph Ibrahim pleaded guilty in 2012 to a charge related to the embezzlement from his employer, Trustin Technology, which worked with companies such as Apple Inc. and IBM. He was sentenced Wednesday to 50 months in prison and ordered to repay the company. With complete access to the Irvine company's finances, Ibrahim wired money from Trustin accounts to his personal investment accounts and manipulated the company's books in an attempt to conceal the theft, the U.S. attorney's office in Santa Ana said.
NEWS
October 3, 1986 | From Reuters
Three masked men escaped early Thursday with two gold bars worth about $430,000 after holding up a gold mine at gunpoint 290 miles north of Montreal, police and mine officials reported.
NEWS
September 10, 1991 | Associated Press
Thai Airways International is investigating the discovery of 243 small gold bars, weighing 99.4 pounds, aboard one of its jets in Nepal, the airline said Monday. Nepalese customs officials found the gold Saturday when searching the plane after it landed in Katmandu from Bangkok, an airline statement said.
WORLD
May 24, 2003 | From Reuters
American troops have seized what appears to be $500 million worth of gold bars from a truck in Iraq, the U.S. military said Friday. The 2,000 40-pound bars were seized Thursday at Al Qaim on the Syrian border by soldiers of the 3rd Armored Cavalry Regiment, U.S. Central Command said. It said if the bars are gold they could be worth as much as $500 million, depending on karat weight and purity.
CALIFORNIA | LOCAL
December 12, 2013 | By Emily Foxhall
An Orange County Lamborghini dealership, which already prided itself on selling more cars than any other in the country, may now have hit the car sales jackpot. This week, the dealership shipped its first-ever vehicle purchased using a digital currency known as bitcoin . A second sale to a bitcoin user was being processed Wednesday, the Daily Pilot reported. "That's pretty good," Cedric Davy, marketing director at Lamborghini Newport Beach, said with a hint of astonished glee.
CALIFORNIA | LOCAL
October 23, 1992 | GREG HERNANDEZ, TIMES STAFF WRITER
Police on Thursday warned residents, particularly members of the Latino community, to beware of con artists who reportedly bilked two women out of $15,000 this week through bogus lottery and gold bar schemes. The two scams took place within an hour of each other at two separate shopping centers on Wednesday afternoon and are similar to two other incidents that occurred in the city earlier this year, Fullerton Police Detective Joe Caracci said.
BUSINESS
August 2, 2012 | By Andrew Tangel, Los Angeles Times
NEW YORK - For decades, the U.S. government has stashed gold five stories beneath Manhattan in a vault under the Federal Reserve's fortress near Wall Street. Or has it? Some conspiracy theorists suspect that the billions of dollars' worth of bullion might have been looted in a dramatic heist, a la the movie "Die Hard: With a Vengeance. " Others claim that the gold has been used in a shadowy government transaction, or swapped with gold-painted bars. It's even caught the attention of politicians like Rep. Ron Paul and members of Germany's Parliament.
NEWS
February 19, 2013 | By Paul Whitefield
So there really is gold in them thar Federal Reserve banks. Seems the Treasury Department conducted its first-ever audit of U.S. gold on deposit at Federal Reserve banks in New York and elsewhere last year, and lo and behold, the auditors, well, struck gold. Literally. As my colleague Andrew Tangel reported : As part of the audit, the Treasury tested a sample of the government's 34,021 gold bars in the New York Fed's vault five stories below Manhattan's financial district, according to the inspector general's office.
BUSINESS
February 19, 2013 | By Andrew Tangel, Los Angeles Times
NEW YORK - Turns out the Federal Reserve's gold is secure and a bit more pure than previously thought - or so the government says. Auditors spent weeks last year in a vault five stories beneath Manhattan counting, weighing and drilling small holes into gold bars owned by the U.S. Treasury. It was the first time the Treasury's inspector general had audited the department's gold held by the Federal Reserve Bank of New York, which has captured the imagination of Hollywood as well as government skeptics.
BUSINESS
February 18, 2013 | By Andrew Tangel
NEW YORK -- The U.S. government's gold in New York is safe in a vault underneath Manhattan, and some of the precious metal there is purer than previously thought. That's according to a first-ever audit conducted last year by the Treasury Department of U.S. gold on deposit at Federal Reserve banks in New York and elsewhere. As part of the audit, the Treasury tested a sample of the government's 34,021 gold bars in the New York Fed's vault five stories below Manhattan's financial district, according to the inspector general's office.
NATIONAL
September 17, 2012 | By John M. Glionna
Northern Nevada officials say there's a lesson here of a Howard Hughes ilk: You can never judge a person's worth by the kind of life he or she leads. Authorities in Carson City recently made an astounding discovery in the home of a local recluse whose body was found in his residence. Walter Samaszko Jr. had left only $200 in his bank account. But hidden throughout the house were other treasures - including gold bars and coins valued at $7 million. “You never anticipate running into anything like this,” Carson City Clerk-Recorder Alan Glover told the Los Angeles Times.
BUSINESS
August 2, 2012 | By Andrew Tangel, Los Angeles Times
NEW YORK - For decades, the U.S. government has stashed gold five stories beneath Manhattan in a vault under the Federal Reserve's fortress near Wall Street. Or has it? Some conspiracy theorists suspect that the billions of dollars' worth of bullion might have been looted in a dramatic heist, a la the movie "Die Hard: With a Vengeance. " Others claim that the gold has been used in a shadowy government transaction, or swapped with gold-painted bars. It's even caught the attention of politicians like Rep. Ron Paul and members of Germany's Parliament.
BUSINESS
January 21, 2012 | By Tiffany Hsu, Los Angeles Times
You've got the haute couture outfit and designer jewelry. So, what's next? How about gold bullion bars designed by the enfant terrible of French haute couture, Jean Paul Gaultier? The fashion industry bad boy has been in vogue for decades — he designed Madonna's much-ballyhooed cone-shaped bra, a line of skirts for men and outfits for rocker Marilyn Manson. Now he's reworking one-ounce bars of gold, charging about $1,830 (along with a $25 handling fee) for each.
NATIONAL
September 17, 2012 | By John M. Glionna
Northern Nevada officials say there's a lesson here of a Howard Hughes ilk: You can never judge a person's worth by the kind of life he or she leads. Authorities in Carson City recently made an astounding discovery in the home of a local recluse whose body was found in his residence. Walter Samaszko Jr. had left only $200 in his bank account. But hidden throughout the house were other treasures - including gold bars and coins valued at $7 million. “You never anticipate running into anything like this,” Carson City Clerk-Recorder Alan Glover told the Los Angeles Times.
BUSINESS
February 18, 2013 | By Andrew Tangel
NEW YORK -- The U.S. government's gold in New York is safe in a vault underneath Manhattan, and some of the precious metal there is purer than previously thought. That's according to a first-ever audit conducted last year by the Treasury Department of U.S. gold on deposit at Federal Reserve banks in New York and elsewhere. As part of the audit, the Treasury tested a sample of the government's 34,021 gold bars in the New York Fed's vault five stories below Manhattan's financial district, according to the inspector general's office.
NEWS
January 4, 2011 | By Jay Jones, Special to the Los Angeles Times
The Golden Nugget hotel in downtown Las Vegas is living up to its name with the installation of an ATM that dispenses gold instead of cash.  Beginning Wednesday, visitors will be able to buy gold coins and 24-karat “bars” weighing from 1 gram to 1 ounce at the new Gold to Go machine, the hotel said in a news release. Each purchase will be dispensed in a gift box. Buyers can use cash or credit cards, according to the website of the machines' developer, Ex Oriente Lux AG . At current prices, a 250-gram “bar” is worth about $11,000.
BUSINESS
November 20, 2010 | Michael Hiltzik
In these troubled economic times, it's not hard to understand why people might want to protect their life savings by purchasing a hard asset like gold or silver. At least, that's the pitch of Monex, the big Newport Beach investment firm, which bills itself as "America's trusted name in precious metals investments" and assures clients that it's "committed to customer service. " So let's take a look at the experiences of some customers who say their trust in Monex was misplaced.
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