The World Reserve latest ad to profit off of unsuspecting consumers can be found in today’s Courant with a full-page ad for the AT1 Armored Safes that are ONLY $281 for those over 52.
And, World Reserve – whose previous ads involving selling sheets of $2 bills were found misleading by the Better Business Bureau – is throwing in a bag of 1,000 coins.
Before you get all excited about this offer, let’s look at the safe, it is 21 inch high, 18 inches wide and 14 inches deep, much smaller than what is pictured in the ad. It weighs 75 pounds and is a combination safe.
For comparison, I checked Walmart on line and found a similar safe – that weighs more (99 pounds) and is larger 19.3 x 16.34 x 17.84 for only $119. No bag of coins is included but World Reserve doesn’t tell you what the face value of the coins is and I guarantee you that most are pennies.
| What I can tell you is what the BBB had to say about the company:
World Reserve Monetary Exchange and several affiliated businesses, including Universal Syndications, Inc., have advertised in newspapers and other publications nationwide, including Virginia, Missouri and Illinois. The company is a division of Arthur Middleton Capital Holdings of Ohio and Miami Beach, Fla., according to the holding company’s website. The holding company also oversees companies that have sold controversial Heat Surge heaters, healthcare plans and “free” digital TV converter boxes. The TV converter box ads were labeled misleading and confusing by the Columbus, Ohio, BBB in 2008. Almost 300 consumers have filed complaints against Universal Syndications/World Reserve Monetary Exchange with the Canton, Ohio BBB. Many of the complaints dealt with concerns over misleading ads, high-pressure sales tactics, an inability to get refunds and difficulty getting the company to stop charging for additional products. Since 2007, attorneys general in at least three states have taken action against the firm. In May 2008, Massachusetts Attorney General Martha Coakley obtained an agreement from the company to stop running misleading coin and currency advertisements. In July 2009, Pennsylvania Attorney General Tom Corbett reached an agreement calling for the company to stop misleading advertising and to refund money to consumers. Corbett said the company’s full-page newspaper ads offering millions of dollars in surplus cash were deceptive. “These advertisements led people to believe that they could claim cash that was ‘up for grabs,’ but that was not the case at all,” Corbett said. |
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These people offering the safes are major scammers and should be locked-up. The ad in Phoenix showed a “priest” among the people in the room “mourning” the deceased. This is clearly an attempt to seduce people into a false sense of security. I would bet the guy in the picture is no more a priest than I am. I wish there were some way to quickly keep these scammers from doing business.