• Report: #303398

Complaint Review: Capital Gold Group

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  • Submitted: Fri, January 25, 2008
  • Updated: Fri, June 08, 2012

  • Reported By:new york New York
Capital Gold Group
15303 Ventura Blvd Sherman Oaks, California United States of America

REVIEW: Capital Gold Group commitment to total customer satisfaction. This Report found to be false, posted by a competitor of Capital Gold Group, a leader in the precious metals industry to maintain a high rating. Licensed, bonded, insured for client safety, Capital Gold Group's Compliance Department requires complete transparency, & resolves every client concern. *This Report found to be bogus, must have been posted by a competitor.
*UPDATE: Capital Gold Group pledges their commitment to Ripoff Report Corporate Advocacy, Business Remediation and Customer Satisfaction Program. A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business.

*General Comment: Surprised Brother

*Author of original report: Please provide proof/evidence

*UPDATE Employee: CAPITAL GOLD GROUP CUSTOMER 100% SATISFIED; BBB = SATISFACTORY RATING

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SPECIAL UPDATE: June 8 2012: Capital Gold Group remains committed to increased customer satisfaction and has improved their business practices over the years to better serve their customers. Capital Gold Group is truly dedicated to making sure their customers are satisfied and that any complaints which do arise are addressed promptly and fairly.

To date, Capital Gold Group has made good faith efforts to resolve all complaints reported on Ripoff Report. Based on our experience, the member business has proven to be among the top members of the Ripoff Report Corporate Advocacy Business Remediation and Customer Satisfaction Program as a Verified Safe Business.

Over time and since becoming a member, Capital Gold Group has remained actively engaged and improving the way they address customer service complaints. As an active and current member of the Ripoff Report Corporate Advocacy Business Remediation and Customer Satisfaction Program we are happy to report that now more than ever Capital Gold Group remains committed to improving customer satisfaction.

Remember, no company or individual can ever satisfy 100% of the people 100% of the time. There are no products or services that will always be perfect for everyone and even the best companies will receive complaints from time to time. However, by participating in the Corporate Advocacy Program, the member business has made a commitment to working with its customers to resolve complaints quickly and fairly whenever possible.

Please keep in mind that as a consumer you have some responsibilities as well. Success has many definitions that based on your past experiences, current situation and your perceived expectations. Success with any product or service is always based on the proper application and understanding. The fastest car will not run if you never turn the engine on. Look at how you used the product or service that was provided in relation with the instructions that you received. The Corporate Advocacy Business Remediation and Customer Satisfaction Program will help you get your voice heard but please be prepared with documentation and fair representation of your concern, also have an idea of how the company can fix your concern. Can they offer additional services, extend warranties, offer a fair refund or just get you talking with someone that can help. ..let them know and let us know!

*Any consumer not receiving satisfaction from a member of the Corporate Advocacy Program should email us at editor@ripoffreport.com
 Capital Gold Group is Rip-off Report Verified

Ripoff Report REVIEW:

*UPDATE: This Report about Capital Gold Group was found to be bogus. Ripoff Report tried to contact this person so Capital Gold Group could make things right with them. To become a member of Ripoff Report Corporate Advocacy Program, the member business agrees to let us contact anyone who filed a claim about them so the company could make things right with them. This person would not respond. Any consumer that Ripoff Report contacts are notified that the company cannot sue them for speaking out about them if they posted a complaint with Ripoff Report. So, if this Report was real, this person would have contacted us.

---------------------------------------------


Editors UPDATE: Positive Rating and Recognition has been given to Capital Gold Group, Inc. for its Commitment to Excellence in customer service.

Ripoff Reports review of Capital Gold Group, Inc., a leading physical gold and precious metals provider, revealed that Capital Gold Group Customer Care has an ongoing commitment to total client satisfaction. Capital Gold Group has made a commitment to always works towards finding a mutually satisfactory resolution to any client issues, complaints or concerns-- past, present and future, and their goal is 100% customer satisfaction. Improvements to CGG's Customer Care program insure that every customer service issue is logged and tracked to ultimate resolution. Capital Gold Group Customer Care listens carefully to each client concern and sees each one as an opportunity to increase company efficiency, to improve employee training programs, to increase customer awareness, and to improve client relations. Capital Gold Group places great emphasis on listening to its clients and responding in a timely and appropriate way.

One of Capital Gold Group's top executives stated to Rip-off Report that CGG's business philosophy sees each and every client as a precious resource and must be treated as such. Its commitment to complete transparency and unmatched customer care is the key to building lasting, professional relationships which ultimately insure repeat and referral business from its clients. The Capital Gold Group executive stated that by adopting this philosophy, they can be certain that the enterprise will be successful now and in the future.

Another top executive of the company stated to Rip-off Report that Capital Gold Group strives to provide value-added service for their clients that includes a dedicated Gold Specialist who becomes each client's primary contact. The assigned Gold Specialist first educates the client so that they can move foward with confidence, and then guides the client in the acquisition of physical gold, silver, or other precious metals. They also provide periodic valuations as well as financial news and market updates in the future. Further, as an Accredited Business of the Better Business Bureau, Capital Gold Group adheres to the ethical standards set forth by the BBB for every business receiving accreditation.

Capital Gold Group's ultimate goal is to provide world-class service to go along with the globally recognized assets it offers, and to provide its clients the best quality, value and professional excellence in the industry. Some of the other things Rip-off Report learned in the course of its investigation: Capital Gold Group business was established in 2000 and incorporated in 2003 by its current CEO, Jonathan Rose, to provide the public with access to the safety and wealth preservation of owning gold, silver, and other precious metals in physical form. Jonathan Rose, RFC, is recognized as a leading expert and keynote speaker on gold and precious metals markets worldwide. With over 50,000 satisfied clients, Capital Gold Group is a precious metals company that everyone from the individual investor to large institutions can trust to do what they say, and to adhere to the terms stated in their Terms & Conditions Agreement that governs every transaction.

Rip-off Report has confirmed that Capital Gold Group takes quality control very seriously. Capital Gold Group has recently increased the staffing of their Customer Care program, and to insure quality service, records every call to their toll-free number for the protection of their clients. Capital Gold Group also provides live representatives to take calls 24 hours a day, 7 days a week, and has an after hours emergency contact to insure full time availability to assist clients with any issues that may develop. Rip-off Report was pleased to learn that Capital Gold Group's past and current approach to business is focused on its commitment toward total client satisfaction.

Capital Gold Group recognizes that complaints posted on Rip-off Report (true or not) are issues that need to be addressed and if handled correctly can be valuable learning opportunities. With the feedback generated by Rip-off Report's investigation, Capital Gold Group has made organizational changes allowing their clients a more streamlined approach to the problem resolution and a total overall commitment to the client experience.

In summary, after our investigation, which included discussions with Capital Gold Group executives, Rip-off Report is convinced that Capital Gold Group has been and is committed to quality delivery of services resulting in total client satisfaction.

Read more about Capital Gold Group Commitment to Excellence and Total Consumer Satisfaction and why consumers should feel safe, confident and secure when doing business with a member of Rip-off Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. ...yes, a long name for a program that does a lot for both consumers and businesses alike.

Read about Rip-off Report Corporate Advocacy Business Remediation & Customer Satisfaction Program,..A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works.

===================== NOW TO THE ORIGINAL REPORT THAT WAS FILED

===================== Capital Gold Group Capital Gold Group, Jonathan Rose, gold scams, gold fraud, precious metals scams Sherman Oaks California

HILLSBORO, Ore. - After the death of her husband, Nola Cronk depends on her trusty dog Zero for companionship. And she depended on a man she never met for financial advise.

Cronk went to Capital Gold Group for advise about investing her retirement money, and she said a Capital Gold salesman demanded her financial records.

"He called me back and he said, 'Well, you are bleeding, and we can stop the bleeding,' " she said.

The salesman told Cronk she needed to invest a huge part of her retirement funds in gold.

"And he started listing, we should take this and this and this, and it amounted to $344,000," she said. "I said, 'No.' "

That was a sales pitch that Capital Gold CEO Jonathan Rose, pictured below, uses at conventions, where he shows himself rubbing shoulders with President Bush and billionaire Steve Forbes.

Soon after Cronk called Capital Gold, a Federal Express driver showed up at her door with a letter she was supposed to sign on the spot.

After the FedEx driver left, Cronk realized she had just signed a contract to buy $344,000 in gold.

"I called them back and I said, 'I don't want to spend $344,000 in gold. Just don't want to do that', and they said, 'Well, you've already signed the contract. You'll either buy it or we'll take you to court and we'll get everything you have,' " Cronk said.

Cronk eventually agreed to buy $82,000 in gold. But it took months of waiting and fighting to get any of it. Eventually, she started seeing small shipments.

But she noticed something strange about the monthly deliveries - most of the coins were silver.

When she had her coins appraised by a local dealer, he determined that her $82,000 investment was worth only about $48,000.

"They were all very common," said appraiser Robert White of Bradley's Coins. "They really aren't considered investment quality coins."

And the silver?

"Those coins were selling for absolutely no more than $25 or $30 dollars per coin," White said.

Invoices from Capital Gold show the company charged Cronk $90 per coin. That meant she paid more than $20,000 for silver coins she never agreed to buy.

"They ripped me off royally because they could get away with it," she said.

But Cronk did not give up. She took her case to an arbitrator who finally awarded Cronk more than $67,000 in September. However, Capital Gold has not responded, and Cronk's money never arrived.

Cronk is not the only investor upset with Capital Gold.

According to a reliability report from the Better Business Bureau, there have been 13 complaints filed against the company.

"They have had consumers complaining against them not only for the deceptive advertising but for unfair business practices," said the BBBs Marcella Kallman.

Cronk has this word of advise for anyone who gets a call from Capital Gold.

"Hang up," she said. "Don't even listen to them."

KATU News tried to reach Capital Gold's CEO Jonathan Rose at his home and office in California and at Capital Gold's headquarters in Las Vegas but he did not return dozens of calls and e-mails.

KATU News also learned the Las Vegas headquarters is really just an empty storefront. Rose advertises on radio stations across the country including a local Christian station in Portland.

Financial advisers say investing in gold or other precious metals can be profitable, but they say it should be done in moderation.

They recommend doing background checks on companies before investing in gold coins or foreign currencies.

Make sure the company is licensed with the state. Check on the business's reliability with the Better Business Bureau, the attorney general's office and the Federal Trade Commission. Get information in writing, including contact information and business addresses.

Coin dealers also recommend taking possession of the coins instead of allowing the seller to hold your coins.

Chuckytaylor new york, New York
U.S.A.

This report was posted on Ripoff Report on 01/25/2008 04:28 PM and is a permanent record located here: http://www.ripoffreport.com/r/Capital-Gold-Group/Sherman-Oaks-California/REVIEW-Capital-Gold-Group-commitment-to-total-customer-satisfaction-This-Report-found-to-303398. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

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Updates & Rebuttals

#1 General Comment

Surprised Brother

AUTHOR: Bruce - (United States of America)

In hearing an advertisement on the radio about buying gold, I thought of my sister.

I then went to the internet to look up Capital Gold, who my sister had told me some time ago with much shigrin  she was in conflict with. To my surprise, her case was the headlined article! As I read the article, it recounted substancially what she told me about the case.

What the article did not reveal was that my widdowed sister while not rich, was substancially well off, and in a position to exercise her German ire at being ripped off. Capitol Gold's assertion that the case was settled to everyones satisfaction is patently untrue, as according to what she has told me, much of her legal costs to produce the settlement were not covered in the settlement. Capital Gold is lucky she did not press the issue to a real satisfactory conclusion. She put the hurt on them, but in the end, she just wanted to be extricated from the b**tards. (My words, not hers.)

Therefore, your net conclusion when buying Gold should be to avoid Capital Gold like a plague, unless you like coersion, delays, disputes, substitutions, and have an extra year or two and at least $50,000 for legal costs in order to actually receive what you thought you purchased. Brother Bruce.

 

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#2 Author of original report

Please provide proof/evidence

AUTHOR: Chuckytaylor - (U.S.A.)

Please provide proof/evidence regarding that the Nola Cronk investigative report has been resolved to her satisfaction. The report indicated that she filed a lawsuit and one but had yet to receive a payment. This occurred less than 1 year ago. Please provide proof of delivery of goods, judgment payment and if that violates privacy please provide proof that you have contacted KATU news and have resolved the findings as displayed in their investigative report. At the very least let us know something.

This rip-off report, as well as other postings, should all be removed if and when the Capital Gold Group can provide evidence of a resolution of that poor widow. I was floored by the report and because it was local, I do not think it got the attention it deserved.

Also regarding the Better Business Bureau findings. Currently 2/14/08 there are 13 complaints in the past 36 months. See here: http://www.vegasbbb.org/rptrel.asp?bbbid=65690

1 Has indeed been resolved. The others have not.

The Bureau processed a total of 13 complaints about this company in the last 36 months, our standard reporting period. Of the total (13) in 36 months, (1) was/were closed in the last year.
Complaints concerned:
2 - Selling Practices


BBB Definition:

Selling Practices - Claims of alleged unknown specifics.

1 - Sales presentation misrepresented the product
1 - General Sales Complaint Issues
3 - Advertising Issues


BBB Definition:

Advertising Issues - Claims alleging print or electronic media advertised claims or practices misrepresent the service or product offer.

1 - Advertised product not available
2 - General Advertising Complaint Issues
3 - Service Issues


BBB Definition:

Service Issues - Claims of alleged delay in completing service, failure to provide promised service, inferior quality of provided service, or damage merchandise as a result of delivery service.

2 - Improper or inferior service
1 - General Service Complaint Issues
2 - Billing or Collection Issues


BBB Definition:

Billing or Collection Issues - Claim alleging billing errors, unauthorized charges, or questionable collection practices.

2 - General Credit or Billing Complaint Issues
1 - Delivery Issues


BBB Definition:

Delivery Issues - Claims of alleged delayed or delivery ordered merchandise or materials.

1 - General Delivery Complaint Issues
1 - Product Issues


BBB Definition:

Product Issues - Claim alleging a product does not meet the expectations of the complainant, including defective merchandise.

1 - General Product Quality Complaint Issues
1 - Guarantee or Warranty Issues


BBB Definition:

Guarantee or Warranty Issues - Claims alleging failure to honor the terms regarding guarantees or warranties.

1 - Failure to honor money-back guarantees
Of the above 13 complaints in the last 36 months, (1) was/were closed in the last year as:
1 - Resolved


BBB Definition:

Resolved - The company resolved the complaint issues.

1 - Company resolved the complaint issues. The consumer acknowledged acceptance to the BBB.
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#3 UPDATE Employee

CAPITAL GOLD GROUP CUSTOMER 100% SATISFIED; BBB = SATISFACTORY RATING

AUTHOR: Capital Gold Group Corporate Spokesperson - (U.S.A.)

NOTICE that this report is not dated and was not posted by the consumer, but by "Chuckytaylor, new york, New York", a phony screen name being used by a competitor to gain a commercial advantage.

"Chuckytaylor" has posted blogs on several other sites such as Yahoo Answers, Wordpress, Digg, and Stumbleupon, citing various cities of residence such as New York, NY, Charlotte, NC, and Santa Monica, CA, all using this old news report dated April 30, 2007.

The situation which was the subject of this report was rectified last September, 2007, to the 100% satisfaction of Ms. Cronk and the Better Business Bureau.

Capital Gold Group is an established company with thousands of satisfied customers. Any issues or concerns brought to the Better Business Bureau and forwarded to us are resolved to the satisfaction of the customer, resulting in our current "B009" satisfactory rating.

We are open to all inquiries, and invite all readers of Ripoffreport.com to contact the Better Business Bureau to verify our satisfactory rating, or to call our Corporate Communications Director, with any questions at 800-510-9594.
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