I am another succer ripped off by these companies - I expressed interest in investing in a gem stone carving. I received a nice glossy catalogue and was phoned at regular intervals over a period of 10 months. I agreed to purchase a small ruby carving for 2700 (UK Pounds) after receiving a picture and a signed evaluation stating it was a ruby carving of 35.28 ct.
As described by other reports the stone was to be auctioned at one of their regular auction events and I could either cash in my profit or trade up to gem of higher value.
Shortly after the sale I was informed Crown Equity was going out of business and that my gem, my account and many Crown Equity personel with whom I had contact were being transferred to a company called Universal Gem Exchange.
A couple of months later I received a telephone call from someone at Universal Gem Exchange stating that they didn't really deal with gems at the lower end of the price scale and encouraged me to trade up.
By this time I had my suspicions and asked if they could send me the gem to be mounted into a pendant for my wife to wear.
They sent me the gem - I had it valued - Yes it was a ruby but of such poor quality it was worth less than 100.
I received another call from one of these racketeers last week they are still practicing their scam - they need all the BAD PUBLICITY that can be thrown at them.
I have all the documentation and my independent gemologist's report if they are of any use to anyone bringing a court case
Kenneth
Ayr
United Kingdom
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