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August 12, 1989 | JESUS SANCHEZ, Times Staff Writer
A California mining operation that promised to deliver bargain-priced gold bullion bilked several hundred investors of about $8 million in a major fraud case, according to charges by the Federal Trade Commission. FTC officials say the investors, many of whom paid $75,000 to $150,000 each for gold deliveries, will probably never recover any of their money from Beverly Hills-based Axiom III Corp. "It seems to be a popular new scam " said Marcy J. K.
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BUSINESS
August 12, 1989 | JESUS SANCHEZ, Times Staff Writer
A California mining operation that promised to deliver bargain-priced gold bullion bilked several hundred investors of about $8 million in a major fraud case, according to charges by the Federal Trade Commission. FTC officials say the investors, many of whom paid $75,000 to $150,000 each for gold deliveries, will probably never recover any of their money from Beverly Hills-based Axiom III Corp. "It seems to be a popular new scam " said Marcy J. K.
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