• Report: #617200

Complaint Review: Sterling-Trust Company, Fidelity Trade And APMEX Precious Metal

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  • Submitted: Thu, June 24, 2010
  • Updated: Sun, July 03, 2011

  • Reported By: Donna — Bouse Arizona United States of America
Sterling-Trust Company, Fidelity Trade And APMEX Precious Metal
7901 Fish Pond Road, POBox 2526 Waco, Texas United States of America

Sterling-Trust Company, Fidelity Trade And APMEX Precious Metal Sterling "Trust" and Superior Gold Group LLC ripped off my IRA account Waco, Texas

*Consumer Comment: your issue might not be with Sterling Trust

*General Comment: Reporting APMEX TO SEC

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Sterling "Trust" Company and Superior Gold Group ripped off my $5,500 401(k).


Relieved of my employment February 2009, I had to rollover my 401(k). I called Superior Gold Group and they directed me to send my 401(k) fund to Sterling "Trust" Company to convert the 401(k) into an IRA. Sterling's job was to wire transfer the fund to SGG to purchase Proof Gold and Silver. 


Both companies helped themselves to several hundred dollars in fees and I have nothing to show for it as of June, 2010. No precious metals; no IRA account. Repeated phone calls and e-mails are ignored.


Sterling "Trust" even bills me an annual fee even though they report they do not have my money. If I refuse to pay this fee they promise to ruin my credit. Sound like a scam? PLEASE tell me there is some way to get my money back?


Dr. DLP June 24, 2010


This report was posted on Ripoff Report on 06/24/2010 02:36 PM and is a permanent record located here: http://www.ripoffreport.com/r/Sterling-Trust-Company-Fidelity-Trade-And-APMEX-Precious-Metal/Waco-Texas-76710/Sterling-Trust-Company-Fidelity-Trade-And-APMEX-Precious-Metal-Sterling-Trust-and-Supe-617200. 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.

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REBUTTALS & REPLIES:
0Author 2Consumer 0Employee/Owner
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#1 Consumer Comment

your issue might not be with Sterling Trust

AUTHOR: claude - ()

Sterling Trust is an IRA holding company which allows great flexability for investors to utilize their IRA in non traditional manners such as purchasing reality for rental, coin storage, corporate lending notes and more.  I have utilized ST with a great deal of satisfaction in many of these transactions.  What ST does not do is manage or direct your assets in any way.  If you purchase shares of metal shares through another company, your issue is actually with the company managing your assets.  ST states clearly in the prospectus they are a holding company and offer vault storage through another company, but do not manage assets.

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#2 General Comment

Reporting APMEX TO SEC

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

I understand your pain, I was dealing with APMEX to purchase through them and they played me so badly, they are abusing the system in their favor. At this time I m currently reporting them to the SEC. I would highly advised you do the same thing. 
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