State suing coin dealer amid crackdown - Houston Business Journal:

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state coin dealer as part of a multistate crackdowh on allegedconsumer fraud. Cordray said Wednesdauy that his office has filed suit in Hancockj County Common Pleas Courtagainst Amityville-based and its Barry Rothman. The state alleges Alliance violatedf Ohio consumerprotection law, and it want s to levy financial penalties and hold the companyt responsible for reimbursing consumers. Cordray’s office said the dealedr of rare coins allegedly hasused high-pressurew sales tactics over the phonew and is targeting seniore citizens in its business pitches.
Cordray claims the companuy has misrepresented the value and investment gradd of the coins in its business dealingas and operated without registering in the state as atelephonre solicitor. Reached by phone Wednesday, Rothman declined to commen onthe lawsuit. Kim Kowalski, a spokeswoman for Cordray’s said the state’s investigatiom began after it received a complaint froman 82-year-olfd Hancock County resident who allegedly spent more than $25,000o on Alliance coins to later discover they were wortyh much less. Alliance claims to offet a 15-day refund window, but that might not be enough time for consumers to discover any gaps in theAttorney General’s Offic said.
The Hancock County complain t is the only one filedd withthe state, but Kowalski said the officde is aware of other allegations made by Ohio The lawsuit is part of a nationall sweep dubbed Operation Shorrt Change that targets companies accused of exploiting consumersz amid the recession. Ohio is one of 14 states that havefilerd suits, while the has mounted 15 casesx and the is pursuing 42.