Report: #1045045

Complaint Review: Sterling Trust Company

  • Submitted: Sun, April 21, 2013
  • Updated: Sun, April 21, 2013
  • Reported By: Mark T. — Livermore Falls Maine
  • Sterling Trust Company
    1101 Wooded Acres, Ste. 120 Waco, TX 76702-2526
    Internet
    United States of America

Sterling Trust Company Equity Trust Co. Gold IRA fraud Internet, Internet

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On 01/18/12 I rolled over a traditional IRA account valued at $39,406 from my local bank in Maine to a gold IRA through Lear Capital Inc. (account designated reprsentative) who used Sterling Trust Co. as the custodian. I trusted their financial advice. They only left $606.85 in cash and the rest in gold: AM Eagle gold 86 1 oz. prf. at 9.00 unit/share at $1,792.30 total value 16,130.70 and bullion bar cast slvr. at 4.00/unit or share at $3,454.00 valued at $13,816.00 these figures as of 09/28/12 for a total value of $30,552.70 as of 09/30/12. The last statement I received from them for the last quarter of 2012 valued my whole accunt at just $27,747.03. I have yet to recieve an account statement from the first quarter of this year 2013. I can't seem to reach anyone by phone either- and I'm left wondering what happened to the value of my account- even taking into consideration the drop in the gold market of the last several weeks. I wish I could get what's left of my money away from them and invest in a more reputable company. I have been reading numerous complaints by others invested with them and am greatly concerned. This was almost my entire nest egg.                     
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This report was posted on Ripoff Report on 04/21/2013 12:23 PM and is a permanent record located here: http://www.ripoffreport.com/reports/sterling-trust-company/internet/sterling-trust-company-equity-trust-co-gold-ira-fraud-internet-internet-1045045. 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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