Report: #871814

Complaint Review: Ripoff Report | Swiss America Trading Corporation | Ripoff Report Verified™ …businesses you can trust. Swiss America assisting clients in building a strong portfolio of U.S. gold, silver coins. Educating clients on how precious metals - in physical form - offer asset protection, security, profit potential, privacy of ownership, peace of mind.

  • Submitted: Sat, April 21, 2012
  • Updated: Fri, March 03, 2017
  • Reported By: Steve — Los Angeles California United States of America
  • Swiss America Trading Corporation | Ripoff Report Verified™ …businesses you can trust. Swiss America assisting clients in building a strong portfolio of U.S. gold, silver coins. Educating clients on how precious metals - in physical form - offer asset protection, security, profit potential, privacy of ownership, peace of mind.
    2342 Tatum Blvd
    Phoenix, Arizona
    United States of America

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Ripoff Report Verified™ REVIEW:

EDitor’s UPDATE: Positive rating and recognition has been given to Swiss America for its commitment to excellence in customer service.

Ripoff Report’s discussions with Swiss America have uncovered an ongoing commitment by the company to total client satisfaction. This means that clients can expect that the company will work towards finding a mutually satisfactory resolution to any complaints or concerns. Swiss America listens carefully to client concerns and sees them as an opportunity to learn from past mistakes and become more efficient as a company in the services offered and the support for those services.

Swiss America's CEO, Mr. Dean Heskin, has informed us that his personal philosophy is that his clients are a precious resource. [continued below]....
..... As a successful businessman, Mr. Heskin feels it is critical to listen to his clients and respond properly. By always putting his customers first, Mr. Heskin hopes to maintain Swiss America as a successful enterprise both now and for many years to come.

Another top executive of the company told Ripoff Report that Mr. Heskin's personal business philosophy is based on the premise that "strives to add value in its services as they understand that a successful business model is based on value-added services, and client care”. Swiss America's mission statement says it all: "People don't care how much you know until they know how much you care." Some of the other things Ripoff Report learned in the course of its review is that typical customer feedback reads: “Swiss America (and Mr. Heskin) truly communicate all aspects of the job in a timely and effective manner. We are very pleased with the responsiveness that he and his employees show us. They are serious about meeting commitments, and deliver on all their promises.

The information provided in this report below is based on comments made by CEO Dean Heskin during an onsite inspection held by a third party verification company with no biases toward Swiss America Trading Corporation.

Swiss America Trading Corporation is Ripoff Report Verified
Ripoff Report Verified™ .. part of Ripoff 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..

Swiss America Trading Corporation has no direct relationship with the US Mint, although they are not precluded from dealing with the mint. Most of their involvement with the mint is done through their suppliers.

When buying and reselling gold and other precious metals, their company practices a standard process. First, they utilize radio, television, internet, and print ads to advertise. After a potential customer contacts them, they look at the materials that they offer and determine if they want to become involved in the market. If a customer decides to work with their company, they are assigned to a representative. Over the phone they will secure the product with the trader and representative, verifying name, address, product price, date and time etc. During this process they also cover their company’s disclosure in terms of market risks and costs. Throughout this process, clients are allowed to maintain contact with their representative, by email or phone. They also have online access to see the value of their product whenever they want. Clients also have the choice of receiving e-newsletters or print newsletters to update them on new information.

"During the onsite interview CEO Dean Heskin was asked to describe their target market consumer and the overall mission for the company: “That’s the same as our previous 30 years. Our clientele tends to be conservative; we don’t push this as a “get rich quick” type of endeavor. Most of our customers are purchasing our products as a means of better diversifying their wealth. This means that a portion of their money may be in land, a portion in stocks and bonds, a portion in tangible wealth, such as gold or silver, and a portion in cash. Overall, our mission is to present people with the concept of being diversified in their holdings.”

In order to keep their end consumers educated, Swiss America Trading supplies them with plenty of information prior to them becoming involved in the market. Their chairman and founder of the company is co-author of five books pertaining to different aspects of the economy and financial markets. He is a frequently featured speaker on Fox News as well as a plethora of radio shows. They have been able to provide their clients with a vast amount of information through the things they have done with the establishment of the NCA (Numismatic Consumer Alliance) and their involvement with different industry affiliates.

The common complaints typically center on market performance

Mr. Heskin was asked to discuss the common complaints that their company receives and describe the standard practices they use to resolve these issues: “The common complaints typically center on market performance, meaning that a person’s investment in the market went up or down, and it might not have been as much as they would have liked it to. These are the vast majority of our complaints. The good thing is that we have a very thorough and specific process that anyone must go through before purchasing. It is disclosed that there are risks due to the fact that this is a market and it does fluctuate. Typically, the majority of those complaints are resolved, often by sending them an audio copy of their agreement in which they have acknowledged that there is a risk involved in entering this market.”

When asked what were some internal process and procedures that need improvement within their company, Mr. Heskin replied, “Thankfully, that’s a tough, actually odd question because it implies that there are problems. If we have recognized any problems then we have probably already fixed them or are well on our way to fixing them. In the last few years we have incorporated our verbal lock into our customer agreement that contains all of the various disclosures, as well as expands on much we are trying to make sure clients know what they are getting involved with before entering into the market. We work on an internal basis and take all the necessary security measures. We want to preemptively make sure that we are more proactive in seeing any problems or issues. We have weekly staff meetings where we review various processes, issues, policies, and procedures to make sure everybody is on the same page and if there are any little holes, we get them plugged up.”

Swiss America Trading Corporation is the largest, most comprehensive dealer of their kind. In order to maintain a competitive edge they give customers free online access to their portfolios, the continuously educate the consumer about market trends, and are actively involved in their community. They also implement a competitive buy back policy. They have always made keeping people informed and educated as the forefront for their business.

In addition, Mr. Heskin was asked to address specific complaints made on Ripoff Report about end consumers being overcharged and what was done to resolve this issue: “Well, first off in terms of being overcharged for a coin, the individual who made that complaint was not complaining about being overcharged, she was complaining about the coins that she did not make money on. In terms of how we settle such issues, we will offer them their money back or offer a reduced cost in what they will get back. In other words, we’ll eat half the cost.

From our vantage point, this is often difficult for us because we tell clients from the beginning what the risks are. We explain to them the prices and what the cost is to buy and sell, we also publish it online. We couldn’t be any clearer on these points. If necessary, we will perhaps give them their money back or give them a discount just in the interest of making things right. However, sometimes we deal with unreasonable people, it just happens.”

Swiss America Trading Corp is pleased to be a part of Ripoff Reports Corporate Advocacy Business Remediation and Customer Satisfaction Program. They are fully supportive of any entity that stands up and represents the consumer to make sure they are protected. They are in full support of ensuring people are not getting ripped off. They appreciate the advocacy aspect of this program because that is what they have tried to implement within their business for the last 30 years. If there is an issue or a problem, they want to ensure that it is addressed. If something is wrong, they want to make it right and they believe Ripoff Report gives them the platform to do that.

"I have seen Mr. Heskin take personal interest in the ongoing improvement of the overall experience for the customer. With his background in finance and years of experience in assisting thousands of families in their financial decision making, I know that he has only the betterment of the customer in mind. It always gives me great pleasure to go back to our customers & know that they have been provided the best quality service at the best quality price.” ~The Director of Administration

Swiss America takes employee satisfaction seriously as well. Employee feedback and surveys reveal comments such as this: "Swiss America provides a very positive environment to work. Opportunities for suggestions and improvements are encouraged. Mr. Heskin is truly concerned about our contribution to the company and providing growth opportunities for us. He takes the time to listen and communicate with employees and customers." Ripoff Report was pleased to learn that Swiss America's past and current approach to business is focused on its pledge to total commitment towards client and employee satisfaction.

Avoiding Investment Gold Scams Consumer Alert:

Get a basic education before buying!

With the increased public interest in owning precious metals for financial safety and profit potential also comes the increased risk of new consumer fraud and rip-off scams. Swiss America offers consumers suggested steps of action to avoid gold dealer problems and/or to help resolve outstanding gold dealer complaints.

7 Warning Signs Of Commodity "Come-Ons.


Swiss America recognizes that complaints posted on Ripoff Report (whether true or not) are issues that need to be addressed, not ignored. If handled correctly, complaints can be valuable learning opportunities. With the feedback generated by Ripoff Report’s review, Swiss America has made organizational changes allowing its clients and employees a more streamlined approach to problem resolution and a commitment to a great client experience.

In summary, after our investigation, which included discussions with Mr. Heskin and many of his past and current associates, Ripoff Report is convinced that Swiss America is committed to quality delivery of services resulting in total client satisfaction.

Read more about why consumers should feel confident when doing business with a member of Ripoff Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Yes, it’s a long name for a program that does a lot for both consumers and businesses alike.

Read about Ripoff 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.

As a matter of policy, when a business becomes a member of the Corporate Advocacy Program they agree to allow Ripoff Report to contact every client who filed a complaint so they can make things right with them. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses so we can insure that the member business did right by their customer.



Swiss America Trading Corporation Michael Weiner, Investment Advisor, Gold Broker ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration))! Phoenix, Arizona



Swiss-America Trading Corporation, Complainant


Author of Report #871814,




Complainant Swiss-America Trading Corporation (the “Complainant”) has challenged the truthfulness of certain specific statements (each, a “Statement”) posted by Author Anonymous (the “Author”) on the Ripoff Report website at as Ripoff  Report #871814 (the “Report”). The Author accused the Complainant of deceiving the Author regarding the sale of gold coins.. The Complainant denied all such allegations. The Author did not submit a response to the Complainant or any contact information. Therefore, in accordance with the Ripoff Report VIP Arbitration Rules (the “Rules), the Author waived their right to participate in this Arbitration. By submitting a Report and a Complaint on the Ripoff Report websites, both the Complainant and the Author have agreed to submit the dispute to the Ripoff Report VIP Arbitration Program.


In accordance with the Rules, the Arbitrator was asked to decide whether the challenged Statements were an opinion or a fact. If, and only if, the Statement was determined to be a statement of fact, the Arbitrator was asked to further decided if, by a preponderance of the evidence, to determine if the Statement was true or false. If the statement identified by the Complainant is determined to be an opinion, no determination will be made as to that particular Statement because an opinion cannot be determined to be true nor false.


In this case, the Arbitrator had only the evidence submitted by the Complainant to consider. The evidence submitted included Ripoff Report #871814, Complainant’s Arbitration Statement, Complainant’s Witness Statements, and supporting documentation.


Each Statement challenged by the Complainant has been considered, together with any Witness Statements and Documents provided by the Complainant for determination of the truth or falsity of the Statement. The Author did not provide a response to the Complaint.


The Arbitrator determined that the certain statements challenged in the Report were false. Therefore, according to the VIP Arbitration Rules, those statements have been redacted.


Decided November 5, 2013


Bruce E. Meyerson, Arbitrator


* A copy of the full Arbitrator’s Decision is available upon request. Please e-mail with the name of the Complainant and Report number.



I was a recent customer of Swiss America, where I invested in excess of $500,000. I thought I could trust the people working there because I was referred to them by Pat Robertson of the 700 Club on the Christian Broadcast Network. I was so Wrong.


((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)). I was promised asset protection and preservation of capital what I wound up with ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)). ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)) the company is located in Phoenix. ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)). He went into great detail on the growth of gold and how much an ounce of gold will always be able to purchase a suit and such. ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration))!!!!!!! ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)). ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration))? ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)). ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)). ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration))!!!!


((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)).


((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)). Is that even possible? ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)). ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)). ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)) I would rather have had a great investment.


((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)). ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)) and ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)) Pat Robertson and Pat Boone would do business with people ((Statement REDACTED as false pursuant to Ripoff Report VIP Arbitration)). I wish they would stop selling gold and at the very least stop associating themselves with the Christian Broadcast Network.


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This report was posted on Ripoff Report on 04/21/2012 02:39 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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Updates & Rebuttals


#1 REBUTTAL Individual responds

Mdw response

AUTHOR: mdw - (United States of America)

Dear Editor,

My name is Michael Weiner, I am responding to the statement a client of Swiss America wrote about a purchase they made, mentioning myself as one of their salespersons.

I have no opinion on the veracity of their issue with Swiss America although it is my understanding that Swiss America has resolved this claim. I am writing today in regard to the mention of my name as related to their purchase.

At the time they made their purchase I was NOT working at Swiss America. This is on record at the firm. I also suggest the clients review their invoices to see my broker code is not listed. The only person they dealt with on all of their purchases was Larry Scott. Their invoices reflect this fact.

In the later part of 2011 when Mr. Scott passed away, his clients were distributed to other account representatives to service (which is procedure when an account representatives leave). I believe that is how my name was brought up in error. As my phone log reflects I have never spoken to anyone related to this account.

Any statements made that directly or indirectly tie me to this transaction are factually incorrect.

Your immediate assistance would be greatly appreciated.

Michael Weiner
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Dean Heskin and Craig Smith are not Patriotic and they are not Christian. They are simply profiteers getting rich by ripping off their employees and their customers. Your reply is completely baseless. It's easy to accuse someone of libel or false claims, it's another thing to prove it.

What I like most about your reply is that you didn't bother to dispute the assertion that both men are racists who I've witness both crack Jew and n****r jokes at company meetings. In addition to notating files as Code 2 which is racist code for a black client (who therefore probably doesn't have any money to invest). Furthermore, when looking at your company photo, it's hard not to notice that not a single African American works at your company. Let me repeat that, not a single negro works on your sales floor Mr. Smith, what an atrocity.

Of course, your representative launched his retort with a personal attack which is one of the many reasons I've withheld my identity, for fear of retribution by Mr. Heskin, a meathead, whom I've witness challenge brokers to fist fights on the sales floor, and from Mr. Smith who put the fear of god into the last person to post a rip off report on him and his evil company. I have no desire to spend 20 grand on an attorney. I simply wish to protect other hard working Americans from the same year after year fate I, and several of my new and old co-workers, suffered. And I am not "hiding" behind anonymity as you put it in your response which I hope to God was not  a veiled threat, Mr. Anderson? I've already received a bizarre voicemail from someone at SA and so have two of my other former co-workers, if I receive any more I will be calling the police.

Many great political documents like the Federalist Papers were written anonymously and I see no reason why that should discredit what was published or who wrote what was published there or elsewhere and neither did the United States Supreme Court when they wrote, "Protections for anonymous speech are vital to democratic discourse. Allowing dissenters to shield their identities frees them to express critical minority views . . . Anonymity is a shield from the tyranny of the majority. . . . It thus exemplifies the purpose behind the Bill of Rights and of the First Amendment in particular: to protect unpopular individuals from retaliation . . . at the hand of an intolerant society."

That having been said, nothing I wrote was far from the truth. I've since checked with five other former brokers and introducing brokers as they are known as SA and they all agreed that everything I listed took place at Swiss America in one form or another. Essentially, they all agreed that Dean and Craig steal from their employees. They all agree those practices were not only condoned, but encouraged by both Smith and Heskin. When Mr. Anderson refers to the company dealing with things swiftly, he must be referring to the junior broker quickly getting the shaft while the "Closer", as they are known on the sales floor, swiftly takes all his money and threatens not to share any more leads with him if he says anything more about it.

When it comes to Heskin and Smith's claims that they are both patriots and Christian's, it's all a crock of s**t. If they are so patriotic why hasn't either EVER volunteered for military service. Neither one served in Vietnam, Iraq, or Afghanistan, and they call themselves patriots? Obvously Heskin was too young for Nam and Smith too old for Iraq, but if they were so patriotic you'd think they would have done something other than fly flags so their customers would think they were patriots. And if they're such devout Christians why don't their employees have health care? I've never worked for a great "Christian" company who's employees faced death if they became sick or injured. And what's Christian about stealing from your employees. Puh-lease, Mr. Smith.

Mr. Anderson, you state that "The beauty of my job... is that our successes or failures fall squarely on our own shoulders. Perhaps my perspective is rather elementary but I feel that there are two type of individuals out there. Those who take personal responsibility for where they stand in life and those that blame everyone else."

Well, I too take responsibility for my actions and that's why I left and I posted this on the world wide web because I wanted to take responsibility for exposing the actions of the liars and thieves that run SwissAmerica so that other hard working Americans don't fall prey to their actions.

I wish you the best of luck surviving your federal prison sentence when you and Mr. Smith and Mr. Heskin are finally arrested for investor fraud.

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#3 Author of original report

Mr. Heskin your response is BULLSH*T - All you are trying to do is change the subject. You stole over $300,000 from me and you should be ashamed of yourself.

AUTHOR: Steve - (United States of America)

Mr. Heskin your response is BULLSH*T - All you are trying to do is change the subject. You stole over $300,000 from me and you should be ashamed of yourself.

I needed that $500,000 for my retirement. My husband and I worked hard for it. We scrimped and saved and now it's gone into a grifter's pocket. You're not a gold broker, you're a money changer. You're a thief, a charlaton. You and you're 20 years in the business, you're not in a business you're in a racket - there's a difference.

The last thing I need is a grifter pontificating to me about trust. I bought gold from you because you and Larry Scott and this Michael Weiner clown swore up and down that gold was going to $7,500 an ounce and the stock market was crashing and the dollar was going to be worthless. Well, you lied on all three accounts. Not one of those situations has happened.

You told me it was a store of value then you charged me a 28% spread - meaning I gave you 500,000 dollars and you charged me $150,000 so i literally had $350,000 in gold left. How can you possibly say that is a store of value when I'm losing 30% off the top.

Then to add insult to injury, you refused to tell me the value of the account until I forced the issue which is when i discovered the $350,000 i had left in US Commerative Coins after you raped me was only worth $200,000 not $350,000. Please tell me how my gold went down in value almost 50% when everyone else's gold quadrupled in the same time period. Please explain that to me online, you SCHIESTER! It's impossible, you're lying to me. You simply sold me a bill of goods and then year by year, month by month you lower your buyback rate.

I trusted you and You ruined my retirement.

How can you hide behind Christianity and Patriotism when you are doing this to people? Does Pat Robertson know what you are doing to people?

I've since researched several other better, ethical options to purchase gold and you should never pay more than a 5% spread. 5%!!!!! Not 28%!!!! All you have to do is google gold or bullion and several better options than you're crooked company pop up.

I will never do business with you again and as for your offer to contact you directly, I tried twice and both times was told that I could not be transferred to you - so shove your offer up your you-know-what!
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#4 UPDATE Employee

Response from the CEO

AUTHOR: swissamerica - (United States of America)

Dear Swiss America Client,

The biggest deficit America now faces is not in money or credit but in trust.

Millions of us have been let down by many of the people and institutions we used to trust most.


The American dream of secure investment in home ownership has for millions become a nightmare. Home ownership was turned into a boom, then speculator bubble, and then a bust that has left many drowning underwater with mortgages bigger than their homes are worth.

Some of our biggest banks proved unreliable. The stock market is now little more than a casino, driven up by speculators whenever the Federal Reserve hints at trillions more in out-of-thin-air paper stimulus spending.

Political leaders preach class warfare and cast a shadow over our economy's future with threats of crushing taxes on businesses and investors. Businesses are afraid to expand or hire, and 49.5 percent of households now have someone living there who gets a government check.

The Fed boasts that it is creating positive inflation to stimulate the economy, yet on June 7 Fed Chairman Ben Bernanke told Congress not to worry because worsening unemployment should continue to restrain inflationary pressures.

In other words, those who control the value of our paper dollars now debase our savings with deliberate inflation and depend on a terrible economy to protect us from an even worse economy. No wonder things are so unstable, uncertain and untrustworthy.


We understand all this because Swiss America has been helping Americans protect their life savings for 30 years and has earned a sterling reputation in the discipline of precious metal diversification. We're not one of today's Johnny-come-lately or fly-by-night companies.

I've been with Swiss America for 20 years, and our representatives combined have many hundreds of years' experience in this field helping clients develop the strategies that best meet their individual and family needs.

We have always striven to provide clients the best service in our industry. We provide the best, most complete, up-to-date information the Whole Truth about our economy. We create a variety of materials including books and White Papers to arm investors with Life Savings-saving facts and analysis.


Swiss America has also become the Gold Standard of precious metal companies for three decades because we think of our clients as partners in maintaining America's highest values and ideals.

If you have any problem, question, idea or recommendation, my door is always open to serve you. Please email me at

Our policy and mission is to maintain the highest standards in our profession. We thoroughly investigate any complaint presented by a client or former employee to ensure we have and will continue to conduct ourselves in accordance with these standards. We strive to rectify such problems immediately.

Please feel free to call me just to say hello, and to get a direct personal sense of the quality of this company and its experienced leadership.

You'll find that there is no deficit of trust at Swiss America Trading Corporation, an old-fashioned honest company where you can feel at home with people who take great pride in your satisfaction.


Dean Heskin
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