[For news on NWT Mint, see http://about.ag/NWTMint.htm]
[For research on bullion dealers, see http://BullionDealerData.com]




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tboll

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Posts: 296
Reply with quote  #1 
So sad that even with this site and historical precedents, we still can't predict if and when one of these online dealers will go out of business.  As many have said before though, best not to tolerate any delays in fulfilling orders.  At this point, I'd say 2 week turnaround is top limit to wait for delivery.  If you are waiting after 4 weeks, it's time to get your lawyer involved to at least submit a Demand Letter (and submit a complaint to the BBB).
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crystal329

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Reply with quote  #2 
Can you please explain, how to submit a complaint to BBB ?
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tboll

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Reply with quote  #3 
To submit a complaint to the Better Business Bureau, follow the instructions on their website:

https://www.bbb.org/howtocomplain/

The way I did it was to google search for "BBB" and the name of the business and then click the "Submit a complaint" button at the bottom right hand corner of the page.  For example, 
Here is the page for NWT Mint:

https://www.bbb.org/western-washington/business-reviews/precious-metal-dealers/northwest-territorial-mint-in-kent-wa-3027278
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crystal329

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Reply with quote  #4 
Thank you so much for your reply [smile]
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kkelseven

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Reply with quote  #5 
You might also consider making an OFFICIAL Complaint to :
U.S. Department of Justice /Victims Complaints
Western District of Washington
700 Stewart St.
suite 5220
Seattle, Washington 98101-2906
Phone number : 206-553-2906
and if you were victimized by Ross Hansen et al
then you may want to communicate with
U.S. Attorney Annette Hayes or her assistant.
I have already lodged my own complaint about the the thieves at NWTM and most recently, thanks to information that JG was able to uncover; I lodged an addendum to my complaint relative to the way in which the NWTM Bankruptcy has been handled (or mishandled). More Specifically, the issue of the Bankruptcy functionaries having (allegedly) sent NWTM Assets ($250,000 +/-) and/or $80,000 in cash through the mail / without insurance / to the wrong address. (Money Laundering ?? )
I questioned whether Federal involvement would be appropriate here ?
Further and at the least ( I believe that JG is correct on this point) it seems like a no-brainer that the above cited activity should Constitute (at the least) a serious BREACH of "Fiduciary duty" and therefore recoverable from the official who was responsible.
Imagine if you hired me as a professional assets manager and then I sent YOUR $80,000 dollars in cash to a wrong address. Then I sent you a bill for my time and expenses. What if you sent me money to deliver a car to your house and then I sent the car to China and a bill for shipping costs to you.
Believe this.... if you or I did ANYTHING like ANY of this, the FBI would put us SO FAR under the Jail that we would Hear people speaking in Chinese.
JG is RIGHT... if Law Enforcement, the FBI and/or the Department of Justice Does NOT hear ANY Complaints from ANYONE or Only from ME; these Damned "Pirates of Seattle " will get ZERO attention, ALL of the Money and Move on to the next bunch of Suckers.
The title was"When will we learn"?? Learn what ? Learning to spend wisely is one thing. Learning NOT to Stay Quite about it.. after having been "Financially RAPED".... THAT'S a Whole Other LESSON !!
I UNDERSTAND that it is Less Effort to do NOTHING. Just Roll Over and take it. Don't fight for what's YOURS. But...is that the World that you TRULY want to Live in. If it is then you should know THAT is How Life is in the Third World Countries where EVERYONE is "On the Take".
I promise you.. if mine is the ONLY Complaint that the DOJ U.S.Atty receives about this Bankruptcy Fraud, then NO Action will ensue and the Professional Pirates Win....and Move on to the next spineless jellyfish. Your Choice !!!
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oldAG

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Reply with quote  #6 
This is probably covered somewhere else, but isn't the Trustee covered by some kind of bond that is mandatory against his making huge blunders, illegal, bad conduct or what the court might find as misconduct for his position?
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JG

Administrator
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Reply with quote  #7 
Quote:
Originally Posted by oldAG
This is probably covered somewhere else, but isn't the Trustee covered by some kind of bond that is mandatory against his making huge blunders, illegal, bad conduct or what the court might find as misconduct for his position?


Yes. The bond is "in favor of the United States conditioned on the faithful performance of official duties by the trustee or trustees." The bond in the NWTM case is currently at $4.8M.

The catch is that it looks like someone has to hire an attorney to file a proceeding against the bond. If there are a few creditors interested (that are owed significant money), they could start a class action lawsuit that might be able to do that. But being 2 1/2 years after NWTM filed for bankruptcy, I think that most people are looking to just move on.

JG
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oldAG

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Reply with quote  #8 
I'd be surprised if there is a time limit for an ongoing bankruptcy to file a claim. You would have to prove your case and you can't really do that until the facts become known and that could very well be a couple years after the fact in an ongoing bankruptcy.

I can understand that it would not be a worthwhile effort for some small time investors to go after, but there were some large investors and the guy who actually started this to begin with has a lot riding on it, as in the lawsuit that forced Hansen's hand.

Not that I'm rooting for that person to get another dime from Hansen, but he has a huge pile to gain by doing so. I just wonder if NWTM would still be shipping orders with a 6 week delay as always if it hadn't been for the lawsuit and how much investor inventory would still be in their vaults?

Not accusing anyone, but you have to wonder if a little bit of investor inventory didn't walk off at night knowing the end was coming sooner rather than later because of the lawsuit.

Now we have a situation building before anything happens with the closing of NWTM, Elemetal and RMC corporation in the form of a retail shortage according to the news writers and dealers.

Premiums are going north and have been for several months without any actual shortage of retail Silver, just in the knowledge that it will sooner or later.

Which is a truth with any investor run on Silver as there has never been enough capacity to meet an actual run for generic Silver at least. The US Mint is the only one capable of mass producing in ever larger quantities assuming they can get all the Silver blanks they need.

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oldAG

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Posts: 64
Reply with quote  #9 
This is so disturbing that Bullion direct was able to distribute a fraction of the amount owed and NWTM had so much money in different businesses and it was all blown away to the point that the blowies ended up blowing themselves up in the process.

Other than some jail time, I can't think of a more fitting end for those clowns.
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