On May 11 of 2016 my wife moved $10.564.79 of paper assets IRA over to Gold Silver Group. Luji Shofu was the account rep. He called to say he would call ahead of time to review the transfer of paper assets over to silver. He never made the call and elected on his own to purchase 24 each of 1/2 oz. $2 Candian Calgary Stampede Silver coins and 210 each of 1.5 oz. silver polar bear coins. The value of the coins once depostied were $5,550 when vauted at Equity Institute. So immedialtey we were concered about the value loss. Luji assured us that the coins market value would equal the amount of paper assets. This was a lie as of this weeks sale the coins went for total of $5,836.32. So in a years time my wife lost $4,728.47 dollars from the investment. Luji Shofu is a crook and Gold Silver Group is as crooked for hiring this shyster to rip hard working people off to the tune that this scoundrel managed to fleece us. If you are a consumer DO NOT buy from Gold Silver Group, DO NOT buy from a new company called 401K Gold Group which Luji Shofu is the CEO. Stay away from these very bad people who resort to all sorts of lies and deceptions to take your hard earned money from you.
I would like to take this time to issue rebuttal regarding Mr. Luji Shofu. Mr. Luji Shofu has called and wishes to help me get my wife's money back despite no longer working with the company. I would like his name redacted from the complaint however it is policy of Rip Off Report not to redact names upon edit requests. I had made three such attempts to have name redacted from the original report. Mr. Luji Shofu has provided contact information for California State Attorney General Office and has been quite helpful in assisting with what had previously transpired with Gold and Silver Group. We wish to thank him for assistance to this matter of dispute with Gold and Silver Group.
John Matias lied to me. I am 70 years old, retired, disabled Vietnam Vet with serious service related disabilities. Told me there was no commission on my silver coin purchase, only charges were when the company bought it back. Lied every time I talked to him about how much my private storage silver foxes were worth. Every time it was above what my investment was.
Come to find out that he had taken a HUGE commission and my investment was worth $30,000.oo less. Then, before I knew the truth, he told me he was in another business with his son called JTM LLC. He told me that I could purchase through this company and he could get me even better pricing. We agreed that I would wire him $40,000.00. I went to my bank and they had the wire held because they suspected something wasnt right. The fraud division contacted me and we decided not to send the wire. John called me and railed against the bank saying that THEY were trying to rip me off.
I never sent the money and needless to say John never called again. I have since found out that his house is in foreclosure. Lets get together if we can. Maybe we can do a class action against this business.
I transfered my IRA to purchase silver coins from them. A one time transaction Bob Matias stole 50K from my account. They tried to convince me that the silver price went down but silver price is still above the price when I transfered my acct. They are dishonest, thieves with no conscious. ... to steal from Seniors and Veterans!
I heard the ads on tv and the radio for "Home Storage IRA's" and called Gold Silver Group. The process of opening the account went well. They use a company called Madison Trust for the paperwork and Madison Trust did a good job for me. I would recommend Madison Trust for the IRA set up. However, when it came time to buy my gold and silver DO NOT USE GOLD SILVER GROUP!! I was grossly overcharged for the metal by Gold Silver Group...over a 40% mark up! I am a disabled person who was forced out of my job and the only monies I have to keep me going are my retirement funds. Rick Dougherty and Group took nearly half of my retirement money for their commissions! Gold will have to hit $2000 or more per ounce before I break even! Meanwhile my money is gone. When i called Rick Dougherty and his son Joe about how they ripped me off, they didn't want to talk to me. STAY AWAY FROM THEM!!! I am now forced to contact the CA state attorney to engage in a legal battle for my money. When I looked up these people at Gold Silver Group I found out that the sales people there (Rick and others) were from Merit and/or Goldline. Both of those company's had the same problems and Merit was actually shut down for this type of business practice, Goldline was fined millions of dollars... Guess the apples don't fall too far from the tree..especially the rotten ones. DO NOT CALL OR DO BUSINESS WITH THIS GROUP!! STAY AWAY! PS--has anybody else had similiar issues? 7/6/2016 UPDATE Rick Dougherty offered me 152,000 for the 200,000 I spent and the price of gold and silver have gone up significantly, (silver 35%)and gold over 200/oz since I bought. 7/7/2016 UPDATE Rick Dougherty through his people now offered me 174K, I told them I do not want them to "BUY BACK" the metals. I want them to send a currior to take back the metal and issue a full refund. They then e-mailed me to expect the owner of Gold Silver Group to call 7/8/2016. I e mailed that I have been talking with you people since last week and do not need a call,,,, I just need metals picked up and full refund issued immediately... probably too soon for a reply but will edit their reply asap.
RED ALERT!!------DO NOT CALL OR DO BUSINESS WITH THIS GROUP!!-------STAY AWAY!!!!
I heard the ads on tv and the radio for "Home Storage IRA's" and called GoldSilver Group. The process of opening the account went well. They use a company called Madison Trust for the paperwork and Madison Trust did a good job for me. I would recommend Madison Trust for the IRA set up. However, when it came time to buy my gold and silver I was grossly overcharged for the metal by GoldSilver Group...over a 40% mark up! I am a disabled person who was forced out of my job and the only monies I have to keep me going are my retirement funds. DO NOT USE GOLD SILVER GROUP!! Rick Dougherty and GoldSilver Group took nearly half of my retirement money for their commissions! Gold will have to hit $2000 or more per ounce before I break even! Meanwhile my money is gone. When i called Rick Dougherty and his son Joe about how they ripped me off, they didn't want to talk to me. STAY AWAY FROM THEM! I am now forced to contact the CA state attorney to engage in a legal battle for my money. When I looked up these people at Gold Silver Group I found out that the sales people there (Rick and others) were from Merit and/or Goldline. Both of those company's had the same problems and Merit was actually shut down for this type of business practice, Goldline was fined millions of dollars... Guess the apples don't fall too far from the tree..especially the rotten ones. DO NOT CALL OR DO BUSINESS WITH THIS GROUP!! STAY AWAY!
I heard the ads on tv and the radio for "Home Storage IRA's" and called Gold Silver Group. The process of opening the account went well. They use a company called Madison Trust for the paperwork and Madison Trust did a good job for me. I would recommend Madison Trust for the IRA set up. However, when it came time to buy my gold and silver DO NOT USE GOLD SILVER GROUP!! I was grossly overcharged for the metal by Gold Silver Group...over a 40% mark up! I am a disabled person who was forced out of my job and the only monies I have to keep me going are my retirement funds. Rick Dougherty and Group took nearly half of my retirement money for their commissions! Gold will have to hit $2000 or more per ounce before I break even! Meanwhile my money is gone. When i called Rick Dougherty and his son Joe about how they ripped me off, they didn't want to talk to me. STAY AWAY FROM THEM!!! I am now forced to contact the CA state attorney to engage in a legal battle for my money. When I looked up these people at Gold Silver Group I found out that the sales people there (Rick and others) were from Merit and/or Goldline. Both of those company's had the same problems and Merit was actually shut down for this type of business practice, Goldline was fined millions of dollars... Guess the apples don't fall too far from the tree..especially the rotten ones. DO NOT CALL OR DO BUSINESS WITH THIS GROUP!! STAY AWAY! PS--has anybody else had similiar issues? 7/6/2016 UPDATE Rick Dougherty offered me 152,000 for the 200,000 I spent and the price of gold and silver have gone up significantly, (silver 35%)and gold over 200/oz since I bought. 7/7/2016 UPDATE Rick Dougherty through his people now offered me 174K, I told them I do not want them to "BUY BACK" the metals. I want them to send a currior to take back the metal and issue a full refund. They then e-mailed me to expect the owner of Gold Silver Group to call 7/8/2016. I e mailed that I have been talking with you people since last week and do not need a call,,,, I just need metals picked up and full refund issued immediately... probably too soon for a reply but will edit their reply asap.....
I heard the ads on tv and the radio for "Home Storage IRA's" and called GoldSilver Group. The process of opening the account went well. They use a company called Madison Trust for the paperwork and Madison Trust did a good job for me. I would recommend Madison Trust for the IRA set up. However, when it came time to buy my gold and silver I was grossly overcharged for the metal by GoldSilver Group...over a 40% mark up! I am a disabled person who was forced out of my job and the only monies I have to keep me going are my retirement funds. DO NOT USE GOLD SILVER GROUP!! Rick Dougherty and GoldSilver Group took nearly half of my retirement money for their commissions! Gold will have to hit $2000 or more per ounce before I break even! Meanwhile my money is gone. When i called Rick Dougherty and his son Joe about how they ripped me off, they didn't want to talk to me. STAY AWAY FROM THEM! I am now forced to contact the CA state attorney to engage in a legal battle for my money. When I looked up these people at Gold Silver Group I found out that the sales people there (Rick and others) were from Merit and/or Goldline. Both of those company's had the same problems and Merit was actually shut down for this type of business practice, Goldline was fined millions of dollars... Guess the apples don't fall too far from the tree..especially the rotten ones. DO NOT CALL OR DO BUSINESS WITH THIS GROUP!! STAY AWAY!
Anthony A. Anderson at the Gold Silver Group contacted me to become the custodian of my gold IRA account after his previous employer (Merit Gold) was closed by the Santa Monica DA for deception and fraud. He "advoised" I sell my silver bullion and replaced it with silver Artic Fox coins that were worth 42% less. He represented these as beng a superior investment, when in fact; they were not and only earned him a 28% commission. My future attempts to contact him only resulted in him trying to sell me more, and he had my reviews on TrustPilot removed.
Gold Silver Group Reviews
On May 11 of 2016 my wife moved $10.564.79 of paper assets IRA over to Gold Silver Group. Luji Shofu was the account rep. He called to say he would call ahead of time to review the transfer of paper assets over to silver. He never made the call and elected on his own to purchase 24 each of 1/2 oz. $2 Candian Calgary Stampede Silver coins and 210 each of 1.5 oz. silver polar bear coins. The value of the coins once depostied were $5,550 when vauted at Equity Institute. So immedialtey we were concered about the value loss. Luji assured us that the coins market value would equal the amount of paper assets. This was a lie as of this weeks sale the coins went for total of $5,836.32. So in a years time my wife lost $4,728.47 dollars from the investment. Luji Shofu is a crook and Gold Silver Group is as crooked for hiring this shyster to rip hard working people off to the tune that this scoundrel managed to fleece us. If you are a consumer DO NOT buy from Gold Silver Group, DO NOT buy from a new company called 401K Gold Group which Luji Shofu is the CEO. Stay away from these very bad people who resort to all sorts of lies and deceptions to take your hard earned money from you.
Redaction of Sales Rep Name
I would like to take this time to issue rebuttal regarding Mr. Luji Shofu. Mr. Luji Shofu has called and wishes to help me get my wife's money back despite no longer working with the company. I would like his name redacted from the complaint however it is policy of Rip Off Report not to redact names upon edit requests. I had made three such attempts to have name redacted from the original report. Mr. Luji Shofu has provided contact information for California State Attorney General Office and has been quite helpful in assisting with what had previously transpired with Gold and Silver Group. We wish to thank him for assistance to this matter of dispute with Gold and Silver Group.
John Matias lied to me. I am 70 years old, retired, disabled Vietnam Vet with serious service related disabilities. Told me there was no commission on my silver coin purchase, only charges were when the company bought it back. Lied every time I talked to him about how much my private storage silver foxes were worth. Every time it was above what my investment was.
Come to find out that he had taken a HUGE commission and my investment was worth $30,000.oo less. Then, before I knew the truth, he told me he was in another business with his son called JTM LLC. He told me that I could purchase through this company and he could get me even better pricing. We agreed that I would wire him $40,000.00. I went to my bank and they had the wire held because they suspected something wasnt right. The fraud division contacted me and we decided not to send the wire. John called me and railed against the bank saying that THEY were trying to rip me off.
I never sent the money and needless to say John never called again. I have since found out that his house is in foreclosure. Lets get together if we can. Maybe we can do a class action against this business.
I transfered my IRA to purchase silver coins from them. A one time transaction Bob Matias stole 50K from my account. They tried to convince me that the silver price went down but silver price is still above the price when I transfered my acct. They are dishonest, thieves with no conscious. ... to steal from Seniors and Veterans!
Do not do business with them!
I heard the ads on tv and the radio for "Home Storage IRA's" and called Gold Silver Group. The process of opening the account went well. They use a company called Madison Trust for the paperwork and Madison Trust did a good job for me. I would recommend Madison Trust for the IRA set up. However, when it came time to buy my gold and silver DO NOT USE GOLD SILVER GROUP!! I was grossly overcharged for the metal by Gold Silver Group...over a 40% mark up! I am a disabled person who was forced out of my job and the only monies I have to keep me going are my retirement funds. Rick Dougherty and Group took nearly half of my retirement money for their commissions! Gold will have to hit $2000 or more per ounce before I break even! Meanwhile my money is gone. When i called Rick Dougherty and his son Joe about how they ripped me off, they didn't want to talk to me. STAY AWAY FROM THEM!!! I am now forced to contact the CA state attorney to engage in a legal battle for my money. When I looked up these people at Gold Silver Group I found out that the sales people there (Rick and others) were from Merit and/or Goldline. Both of those company's had the same problems and Merit was actually shut down for this type of business practice, Goldline was fined millions of dollars... Guess the apples don't fall too far from the tree..especially the rotten ones. DO NOT CALL OR DO BUSINESS WITH THIS GROUP!! STAY AWAY! PS--has anybody else had similiar issues? 7/6/2016 UPDATE Rick Dougherty offered me 152,000 for the 200,000 I spent and the price of gold and silver have gone up significantly, (silver 35%)and gold over 200/oz since I bought. 7/7/2016 UPDATE Rick Dougherty through his people now offered me 174K, I told them I do not want them to "BUY BACK" the metals. I want them to send a currior to take back the metal and issue a full refund. They then e-mailed me to expect the owner of Gold Silver Group to call 7/8/2016. I e mailed that I have been talking with you people since last week and do not need a call,,,, I just need metals picked up and full refund issued immediately... probably too soon for a reply but will edit their reply asap.
RED ALERT!!------DO NOT CALL OR DO BUSINESS WITH THIS GROUP!!-------STAY AWAY!!!!
I heard the ads on tv and the radio for "Home Storage IRA's" and called GoldSilver Group. The process of opening the account went well. They use a company called Madison Trust for the paperwork and Madison Trust did a good job for me. I would recommend Madison Trust for the IRA set up. However, when it came time to buy my gold and silver I was grossly overcharged for the metal by GoldSilver Group...over a 40% mark up! I am a disabled person who was forced out of my job and the only monies I have to keep me going are my retirement funds. DO NOT USE GOLD SILVER GROUP!! Rick Dougherty and GoldSilver Group took nearly half of my retirement money for their commissions! Gold will have to hit $2000 or more per ounce before I break even! Meanwhile my money is gone. When i called Rick Dougherty and his son Joe about how they ripped me off, they didn't want to talk to me. STAY AWAY FROM THEM! I am now forced to contact the CA state attorney to engage in a legal battle for my money. When I looked up these people at Gold Silver Group I found out that the sales people there (Rick and others) were from Merit and/or Goldline. Both of those company's had the same problems and Merit was actually shut down for this type of business practice, Goldline was fined millions of dollars... Guess the apples don't fall too far from the tree..especially the rotten ones. DO NOT CALL OR DO BUSINESS WITH THIS GROUP!! STAY AWAY!
PS--has anybody else had similiar issues?
I heard the ads on tv and the radio for "Home Storage IRA's" and called Gold Silver Group. The process of opening the account went well. They use a company called Madison Trust for the paperwork and Madison Trust did a good job for me. I would recommend Madison Trust for the IRA set up. However, when it came time to buy my gold and silver DO NOT USE GOLD SILVER GROUP!! I was grossly overcharged for the metal by Gold Silver Group...over a 40% mark up! I am a disabled person who was forced out of my job and the only monies I have to keep me going are my retirement funds. Rick Dougherty and Group took nearly half of my retirement money for their commissions! Gold will have to hit $2000 or more per ounce before I break even! Meanwhile my money is gone. When i called Rick Dougherty and his son Joe about how they ripped me off, they didn't want to talk to me. STAY AWAY FROM THEM!!! I am now forced to contact the CA state attorney to engage in a legal battle for my money. When I looked up these people at Gold Silver Group I found out that the sales people there (Rick and others) were from Merit and/or Goldline. Both of those company's had the same problems and Merit was actually shut down for this type of business practice, Goldline was fined millions of dollars... Guess the apples don't fall too far from the tree..especially the rotten ones. DO NOT CALL OR DO BUSINESS WITH THIS GROUP!! STAY AWAY! PS--has anybody else had similiar issues? 7/6/2016 UPDATE Rick Dougherty offered me 152,000 for the 200,000 I spent and the price of gold and silver have gone up significantly, (silver 35%)and gold over 200/oz since I bought. 7/7/2016 UPDATE Rick Dougherty through his people now offered me 174K, I told them I do not want them to "BUY BACK" the metals. I want them to send a currior to take back the metal and issue a full refund. They then e-mailed me to expect the owner of Gold Silver Group to call 7/8/2016. I e mailed that I have been talking with you people since last week and do not need a call,,,, I just need metals picked up and full refund issued immediately... probably too soon for a reply but will edit their reply asap.....
I heard the ads on tv and the radio for "Home Storage IRA's" and called GoldSilver Group. The process of opening the account went well. They use a company called Madison Trust for the paperwork and Madison Trust did a good job for me. I would recommend Madison Trust for the IRA set up. However, when it came time to buy my gold and silver I was grossly overcharged for the metal by GoldSilver Group...over a 40% mark up! I am a disabled person who was forced out of my job and the only monies I have to keep me going are my retirement funds. DO NOT USE GOLD SILVER GROUP!! Rick Dougherty and GoldSilver Group took nearly half of my retirement money for their commissions! Gold will have to hit $2000 or more per ounce before I break even! Meanwhile my money is gone. When i called Rick Dougherty and his son Joe about how they ripped me off, they didn't want to talk to me. STAY AWAY FROM THEM! I am now forced to contact the CA state attorney to engage in a legal battle for my money. When I looked up these people at Gold Silver Group I found out that the sales people there (Rick and others) were from Merit and/or Goldline. Both of those company's had the same problems and Merit was actually shut down for this type of business practice, Goldline was fined millions of dollars... Guess the apples don't fall too far from the tree..especially the rotten ones. DO NOT CALL OR DO BUSINESS WITH THIS GROUP!! STAY AWAY!
PS--has anybody else had similiar issues?
Anthony A. Anderson at the Gold Silver Group contacted me to become the custodian of my gold IRA account after his previous employer (Merit Gold) was closed by the Santa Monica DA for deception and fraud. He "advoised" I sell my silver bullion and replaced it with silver Artic Fox coins that were worth 42% less. He represented these as beng a superior investment, when in fact; they were not and only earned him a 28% commission. My future attempts to contact him only resulted in him trying to sell me more, and he had my reviews on TrustPilot removed.