UPDATE 3: We did a feature investigative article on Cash4Gold, entitled, “The Article Cash4Gold Doesn’t Want You To Read.”

UPDATE 2: Cash4Gold (Green Bullion Financial Services, LLC) sent us a copy of a judgement they obtained on default, granting a “temporary injunction” against the ex-employee to prevent them from “publishing any more confidential, proprietary information, and any defamatory information on the internet.”

We continue to look into the ex-employee’s statements and will keep you apprised. (7/02/09)

UPDATE 1: Cash4Gold has filed a defamation suit (right-click here and save to your harddrive to view the PDF) against the ex-employee who posted the below allegations against the company on ComplaintsBoard. The company asserts that the employee’s statements were entirely false, and claims that she said she was going to “make Cash4Gold be sorry for firing her.” They have also asked us to remove this story. We’ll be looking into this and will keep you posted on further developments. (4/3/09)

---

From the acid-cloud haze of the Cash4Gold processing center steps forth a shadowy figure, fingers stained with orange testing fluid. It’s an ex-Cash4Gold employee and in-between tuberculosic wheezes he manages to pass you a yellow legal paid with 10 confessions about how his former employer taught him to rip people off. Then he evaporates leaving behind a pile of gold dust. You dip your finger in it and touch it to your tongue. Just as you thought: fool’s gold.

If you decide to investigate the creaky clock tower, turn to page 4.
If you decide to read the confessions, to the post inside.

Spotted on ComplaintsBoard: “I would like an article to be posted pertaining to the refinery Cash 4 Gold, located in Pompano Beach, Fl. I am a former employee, who would like to alert/warn the public on the scamming process involved with this company. There are many of us who would like to vouch on behalf of this fast growing scam. We would like to get the word out to everyone on this step by step scam which involves so many people in this country and their valuables.

Below I have attached the full details on the scam involving this company. We know this first hand, because this is how we were trained. Please take note of this information and do what you can to get the word out there, especially in a time when the economy has truly affected everyone for the worst. Thank you!

I am a former employee of Cash 4 Gold. I did not know much about the company before being hired. On my first day of being hired, I was taught the “Cash 4 Gold Scam” from beginning to end.

1. The “refiner’s pack” that is used for you to put your jewelry is “insured for UP TO 100 dollars, ” according to how much they determine from a description from you, the worth of your items to be, NOT an actual fully researched appraisal.

2. We receive your “Refiner’s Pack” within 3-4 days, BUT we are instructed to tell you that it takes “7-10 business days, for us to receive your pack, ALTHOUGH many times, your package has already arrived.
(All cash4gold customers who have called customer service to track a package can vouch for this)

3. Your jewelry gets appraised by hand, a magnifying glass, a plastic container, a small weight pad, and a bottle of ORANGISH fluid, which your items are then determined a value for. Not million dollar equipment or specially trained jewelry experts. The company was temporarily closed recently due to health and code violations. I have witness testers being transported to Medical Centers, due to the testing department environment. There is literally a cloud of smoke in the air from acid and other testing material. If you were thinking it was some state-of-the-art testing facility, you thought WRONG.

4. Although the payment (check) for your item is dated within 24 hrs of testing your jewelry, we SOMETIMES DO NOT actually send out the check until up to 3-4 days later. (if you are a customer check the date the check was issued against the stamped date on the envelope.)

5. We do offer a 100% Satisfaction Guarantee or your jewelry returned, BUT THE CATCH IS, that the guarantee is to contact us within 10 DAYS from when your check is DATED. (This begins with the time it took for the accounts payables dept. to ISSUE the check and also including the TRANSIT TIME for you to receive your check in the mail. **** NOTATE THE COMMERCIALS THAT INSINUATE THAT YOU GET YOUR CASH IN 24 HRS.*** If you request (sign) for FAST CASH (direct deposit) you automatically WAIVE your rights to have your items returned, EVEN if you are not satisfied with amount of your deposit.

6. You generally receive your check around the “7th-10th” business day, AND majority of the time Customers are outraged when they lay eyes on the amount of their check. Some Customer’s even receive a check for 0.01 cents.

7. There have been times when we have received your package and MISPLACED or LOST it at the facility. We CLAIM to not have received the items and even try to convince you that it was lost in the hands of USPS. At which point we begin an insurance claim process on your package. We ask you to send us an itemized list of the content of the package, trying to be as descriptive as you possible can (if you can remember everything in full detail) and a copy of your state issud ID. We then issue an INSURANCE CLAIM for UP TO 100 dollars. GOD FORBID your items are worth more then a 100 dollars. If you call customer service to check on the status of your shipment, and we actually have not received your package, we inform you of the insurance claim process. For those who know that their items are worth more than a hundred dollars, they become very upset and threaten to take action against the company, at that point we inform the customer that if they knew their items were worth more they should have added additional insurance at the Post Office. BUT unless you are paying to ship your items in a completely different package other then the refiner’s kit, you are unable to add insurance to the package.

8. For those who do get in touch with us within the allotted time frame, we already know what you are calling about. Customers want their items returned, because there check amount is so insultingly LOW. The first thing a Rep will ask you is “HOW MUCH WERE YOU EXPECTING TO GET BACK?” This way we can know how much to “BONUS” you.

*Definition of a BONUS: We issue low checks just to have you call us back if you are smart enough to realize that you just got scammed. For the smart one’s we are paid to offer u a bonus up to 3x the original amount of your check and you accept. For ex: Sally Smith receives a check for $27.86 for a Rolex watch(which we don’t issue value for), a class ring, a ring with diamond chips, a pair of earrings with emeralds, as well as a few sterling silver pieces, and maybe a few items that were really of no value. Now Sally Smith calls the cust srvc dept, where she speaks to a rep who seems so concerned and will see if she can do better with the amount by speaking to a “SUPERVISOR”. We then place the caller on Mute, and speak to our neighbors or doodle on a sheet, or twiddle with our hair for about 45 seconds, while we are supposedly speaking to our supervisor about Ms. Smith’s complaint. We then come back with an offer to “BUMP UP YOUR MELT DATE or any other lies the cust srvc reps can think of, and offer you a total amount of $53.20 which is a little under double the amount of your original check; in which case if you accept, the cust srvc rep makes a 15.00 bonus off of your transaction. If the customer service rep offers you under triple the amount of your orig check, he/she makes 10.oo in bonuses.

9. If you accept the offer, the deal is done, and you are told that the call is recorded (which most of the time, the record button does not work, or the box if full.)It’s just a way to make your feel binded by a verbal contract. IF you do not accept the deal, you have to return your check, and it takes sometimes up to a month to receive your items back after we receive the check.

10. If you only want the items that we do not find of any value back, you have to pay 10.00 shipping and handling fee to have your own items returned, which varies. Although it is listed under the terms and conditions, this charge varies from a 10.00-15.00 charge to NO charge, reason being, UNSURE.

Cash 4 Gold is definitely not a trustworthy or credible company to do business with. You are almost better off taking your items to a local pawn shop or shopping around for other companies. With the economy the way it is, Cash 4 Gold seems to be a way out of financial stress for some, but in actuality becomes a stress of its own. I would advise you to think twice before sending in valuables or items inherited and of sentimental value, its not worth it.”

PREVIOUSLY:
Cash4Gold Offers Blogger $3,000 To Remove Negative Post
How To Avoid Getting Ripped Off By Cash4Gold

Want more consumer news? Visit our parent organization, Consumer Reports, for the latest on scams, recalls, and other consumer issues.