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Hannes Tulving Rare Coin Investments

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BUSINESS
June 19, 1992 | From Times Staff and Wire Reports
Coin Dealer Agrees to Settle FTC Charges: Hannes Tulving Jr., whose company was once among the most prominent U.S. dealers in rare coins, has agreed to settle Federal Trade Commission charges that he inflated the prices of his coins by creating an artificial market for them. In August, 1990, the FTC filed a lawsuit in U.S. District Court in Los Angeles seeking $40 million on behalf of investors for whom it purchased rare coins for as much as five times what they were worth.
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BUSINESS
June 19, 1992 | From Times Staff and Wire Reports
Coin Dealer Agrees to Settle FTC Charges: Hannes Tulving Jr., whose company was once among the most prominent U.S. dealers in rare coins, has agreed to settle Federal Trade Commission charges that he inflated the prices of his coins by creating an artificial market for them. In August, 1990, the FTC filed a lawsuit in U.S. District Court in Los Angeles seeking $40 million on behalf of investors for whom it purchased rare coins for as much as five times what they were worth.
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BUSINESS
August 3, 1990 | GREGORY CROUCH, TIMES STAFF WRITER
Hannes Tulving Rare Coin Investments--under investigation by federal and state authorities for allegedly overpricing coins and reneging on guarantees--has recently sold nearly all of its assets in order to stay in business, the company's owner said Thursday. Until recently Tulving was one of the nation's largest coin dealers, selling more than $30 million in coins to more than 4,600 clients last year alone.
BUSINESS
January 16, 1991 | JOHN O'DELL, TIMES STAFF WRITER
Hannes Tulving Rare Coin Investments of Newport Beach, once one of the nation's largest gold and silver coin dealers, has filed a Chapter 7 liquidation petition in federal bankruptcy court here. Company owner Hannes Tulving Jr. also filed a personal bankruptcy liquidation petition.
BUSINESS
January 16, 1991 | JOHN O'DELL, TIMES STAFF WRITER
Hannes Tulving Rare Coin Investments of Newport Beach, once one of the nation's largest gold and silver coin dealers, has filed a Chapter 7 liquidation petition in federal bankruptcy court here. Company owner Hannes Tulving Jr. also filed a personal bankruptcy liquidation petition.
BUSINESS
August 2, 1990 | GREGORY CROUCH, TIMES STAFF WRITER
Hannes Tulving Rare Coin Investments, one of the nation's largest coin dealers, said Wednesday that it is being investigated by the Federal Trade Commission and the California Department of Corporations. Both agencies are looking into the Newport Beach firm's pricing practices as well as its guaranty and warranty programs, said Hannes Tulving, the company's owner. No charges have been filed against the company, which had sales of $30 million to more than 4,600 clients in 1989.
BUSINESS
August 16, 1990 | GREG CROUCH, TIMES STAFF WRITER
The Federal Trade Commission on Wednesday placed Hannes Tulving Rare Coin Investment, one of the nation's biggest coin dealers, into receivership and is expected to file a civil complaint today charging the firm with overpricing. In a separate case, sources said the FTC is investigating Professional Coin Grading Service in Irvine, the industry's largest appraiser, for grading some coins at rates favorable to its preferred customers.
BUSINESS
September 2, 1990 | GREGORY CROUCH, TIMES STAFF WRITER
Jimmy Hayes was in New Orleans looking for buried treasure. The year was 1958 and he was 13. Up and down Royal Street he traveled, stopping at store after store looking for something like a doubloon. Deep inside an antique shop, he discovered a piece that would launch a lifelong coin hobby--an 1889 gold dollar that cost $21. Now a member of Congress, Rep. Hayes (D-La.) tells this story as a remnant of a bygone era when coins only interested kids and small-time collectors.
BUSINESS
August 17, 1990 | GREGORY CROUCH, TIMES STAFF WRITER
The Federal Trade Commission filed complaints Thursday against one of the nation's biggest coin dealers and the industry's largest appraiser, claiming both Orange County firms misled investors. The two civil cases are separate and unrelated. The FTC charged Newport Beach-based Hannes Tulving Rare Coin Investment with running a Ponzi scheme that defrauded investors out of more than $40 million. The complaint, filed in U.S.
BUSINESS
November 26, 1990 | From United Press International
Rare Coin Investments: A class-action suit was filed against Hannes Tulving Rare Coins Investments, one of the nation's largest coin dealers, accusing it of "making false or misleading representations" about rare coin investments. The federal lawsuit names only one plaintiff, an investor who purchased $5,000 worth of rare coins in December, 1989.
BUSINESS
November 26, 1990 | From United Press International
Rare Coin Investments: A class-action suit was filed against Hannes Tulving Rare Coins Investments, one of the nation's largest coin dealers, accusing it of "making false or misleading representations" about rare coin investments. The federal lawsuit names only one plaintiff, an investor who purchased $5,000 worth of rare coins in December, 1989.
BUSINESS
September 2, 1990 | GREGORY CROUCH, TIMES STAFF WRITER
Jimmy Hayes was in New Orleans looking for buried treasure. The year was 1958 and he was 13. Up and down Royal Street he traveled, stopping at store after store looking for something like a doubloon. Deep inside an antique shop, he discovered a piece that would launch a lifelong coin hobby--an 1889 gold dollar that cost $21. Now a member of Congress, Rep. Hayes (D-La.) tells this story as a remnant of a bygone era when coins only interested kids and small-time collectors.
BUSINESS
August 17, 1990 | GREGORY CROUCH, TIMES STAFF WRITER
The Federal Trade Commission filed complaints Thursday against one of the nation's biggest coin dealers and the industry's largest appraiser, claiming both Orange County firms misled investors. The two civil cases are separate and unrelated. The FTC charged Newport Beach-based Hannes Tulving Rare Coin Investment with running a Ponzi scheme that defrauded investors out of more than $40 million. The complaint, filed in U.S.
BUSINESS
August 17, 1990 | GREGORY CROUCH, TIMES STAFF WRITER
The Federal Trade Commission filed complaints Thursday against one of the nation's biggest coin dealers and the industry's largest appraiser, claiming both Orange County firms misled investors. The two civil cases are separate and unrelated. The FTC charged Newport Beach-based Hannes Tulving Rare Coin Investment with running a Ponzi scheme that defrauded investors out of more than $40 million. The complaint, filed in U.S.
BUSINESS
August 16, 1990 | GREG CROUCH, TIMES STAFF WRITER
The Federal Trade Commission on Wednesday placed Hannes Tulving Rare Coin Investment, one of the nation's biggest coin dealers, into receivership and is expected to file a civil complaint today charging the firm with overpricing. In a separate case, sources said the FTC is investigating Professional Coin Grading Service in Irvine, the industry's largest appraiser, for grading some coins at rates favorable to its preferred customers.
BUSINESS
August 16, 1990 | GREGORY CROUCH, TIMES STAFF WRITER
The Federal Trade Commission on Wednesday placed Hannes Tulving Rare Coin Investment, one of the nation's biggest coin dealers, into receivership and is expected to file a civil complaint today charging the firm with overpricing. In a separate case, sources said the FTC is investigating Professional Coin Grading Service in Irvine, the industry's largest appraiser, on allegations it graded some coins at rates favorable to its preferred customers.
BUSINESS
August 16, 1990 | GREGORY CROUCH, TIMES STAFF WRITER
The Federal Trade Commission on Wednesday placed Hannes Tulving Rare Coin Investment, one of the nation's biggest coin dealers, into receivership and is expected to file a civil complaint today charging the firm with overpricing. In a separate case, sources said the FTC is investigating Professional Coin Grading Service in Irvine, the industry's largest appraiser, on allegations it graded some coins at rates favorable to its preferred customers.
BUSINESS
August 3, 1990 | GREGORY CROUCH, TIMES STAFF WRITER
Hannes Tulving Rare Coin Investments--under investigation by federal and state authorities for allegedly overpricing coins and reneging on guarantees--has recently sold nearly all of its assets in order to stay in business, the company's owner said Thursday. Until recently Tulving was one of the nation's largest coin dealers, selling more than $30 million in coins to more than 4,600 clients last year alone.
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