Report: #905946

Complaint Review: Aurum Advisors

  • Submitted: Mon, July 02, 2012
  • Updated: Mon, July 02, 2012
  • Reported By: RippedOff in SC — Greenville South Carolina United States of America
  • Aurum Advisors
    1801 Century Park East
    Los Angeles, California
    United States of America

Aurum Advisors Liquidated my IRA account without my knowledge and had coins shipped to Aurum's office in Los Angeles, California

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Marc Lubaszka sent a Letter of Instruction to Sterling Trust to liquidate my IRA account with Sterling Trust. The coins were shipped directly to Aurum Advisors and they kept them. I did not find this out till I received my statement from Sterling with a zero balance. Upon contacting Sterling in May 2012, they provided me with copies of the Letter of Instruction from November 2011, their shipping log and the FedEx tracking number and signed Proof of Delivery.

I tried calling Aurum just about every day and sometimes several times a day. I was finally told that Marc Lubaszka stepped away from the company in February. After reading all these reports, I assume hes now in some Caribbean island living off all of our retirement accounts.

After I filed a BBB complaint, Robert Drake finally returned a phone call. He assured me that Barry Davis would call me and told me that Barry said that I was obviously confused about my account. I also sent two emails with the details and explaining I had proof that the coins were shipped to them and they kept them. Barry Davis actually replied on May 31 , having the nerve to tell me that he was confused about my complaint. (I dont know what part of Aurum kept my coins he didnt understand.) He also added that June 7, 2012 would be his last day.

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This report was posted on Ripoff Report on 07/02/2012 07:04 PM and is a permanent record located here: 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. READ: Foreign websites steal our content

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