Complaint Review: Kevin DeMeritt Aka Lear Financial - Santa Monica California

Rip-off Report REVIEW:

Editors UPDATE: Positive rating and recognition has been given to Lear Financial for its commitment to excellence in customer service.

Ripoff Reports discussions with Lear Financial have assured us that Lear Financial has made customer satisfaction a core principle and that Lear is constantly seeking ways to improve its already high standard of customer care. This means that Lear Financial will provide accurate, timely and courteous information to its clientele and that Lear staff will work quickly to satisfactorily resolve any client questions or concerns.

It also means that Lear is committed to learning from its customers through regular, voluntary follow-up calls and conversations. This feedback helps Lears customer care team to correct any mistakes and to ensure an even higher standard of customer service in the future.

Rip-Off Reports was pleased to learn that Lear Financials president, Kevin DeMeritt, deliberately focused on excellent customer service as a business hallmark in order to make Lear stand out from other gold and precious metals investing firms. Indeed, great customer service is what DeMeritt terms the Lear Advantage.

As an investment industry leader, Mr. DeMeritt understands that Lear clients investments are precious and that Lear has a responsibility to meet the highest standards of transparency, integrity and customer assurance. Lears goal is to establish a long-term relationship with its clients and understands that it can only do so by providing them with the best and most timely information and guidance.

A top executive at Lear Ripoff Report that Mr. DeMeritt is an innovator constantly looking for ways to provide added value to his customers. Kevin understands that the world is changing and that investors needs change just as fast. He strives to provide clients with real-time answers to real-time questions about precious metals investing. His goal is to provide the best and most responsive customer service in the industry, whether through knowledgeable and friendly customer care representatives, or through constantly-updated information on Lears full-service website. Kevins philosophy is: Never make a customer wait, never make a customer wonder.

Lear Financials customer care team notes that the expertise of Lears senior management gives Lear clients confidence. DeMeritt, predicted the market crash of 2001 on national radio and the ensuing strength of gold as an investment. He has steered Lear to a position as one of the most prominent precious metals investing companies in America, with frequent endorsements from a range of media leaders, including the Rush Limbaugh Show, Michael Medved, Dennis Prager, George Noory, Laura Ingraham, Mike Gallagher, Oliver North, Noah Hutchings, the late Marlin Maddoux and many others.

More importantly, DeMeritt and his team have helped thousands of investors protect their savings and retirement through the well-timed purchase of precious metals. As a result, Lear clients report high customer satisfaction.

Lear Financial recognizes that complaints posted on Rip-off 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 Rip-off Reports Investigation Lear Financial has instituted systematic changes to ensure that problems are resolved quickly and quality standards remain high.

In summary, after our investigation, which included discussions with Mr. DeMeritt and many of his past and current associates, Rip-off Report is convinced that Lear Financial is committed to delivering high quality services resulting in total client satisfaction.

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

Read about Rip-off 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.

SPECIAL NOTE ABOUT MOST OF THE REPORTS FILED ABOUT LEAR CAPITAL:

As a matter of policy, when a business becomes a member of the Corporate Advocacy Business Remediation and Customer Satisfaction Program they agree to allow Ripoff Report to contact every person who filed a complaint so they can make things right with them. In order to confirm that each and every complaint was resolved, Ripoff Report emailed the author of all the reports about Lear Financial.. Fortunately, the posting of false reports is not the norm, .. ..Sadly in this case, most of the reports posted about Lear were filed by the same person., and the Reports that were not posted by the same person all looked suspicious.. Ripoff Report has the evidence. Ripoff Report waited more than 2 weeks to post this UPDATE. As of today, Ripoff Report has not heard back from one person regarding any Report about Lear Financial.

It is the opinion of Ripoff Report, because the Precious Metals industry is so competitive, that it is more than likely unscrupulous cut-throat competitors posted the reports about Lear. Executives at Lear admit to Ripoff Report they are not perfect, as no company or individual ever is, but, the people at Lear have made a commitment to do their best to always do right and what is fair by their customers. If any of our readers feels a member of the Corporate Advocacy Program did not do right by them, to please contact us here at Ripoff Report. [email protected]

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NOW TO THE ORIGINAL REPORT THAT WAS FILED

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Kevin DeMeritt Aka Lear Financial Using US advertisers to deceive investors and employees allege widespread racial/ sexual harassment and other wrongful or illegal business practices Santa Monica California

The following list of advertisers should drop Kevin DeMeritt, Lear Financial and Gold Central from their advertising spots for allegations of racial and sexual harassment as well as alleged criminal acts perpetrated against customers, potential customers and employees.

FOXNEWS Television

Rush Limbaugh radio

AM Coast to Coast radio / web with Art Bell

AM Coast to Coast radio / web with George Norrey

Michael Medved

Laura Ingraham

Dennis Prager

World Magazine and dozens of others

This partial list includes some of the largest and respected personalities in broadcasting, particularly from conservative, financial and religious radio, as many personally endorse Kevin DeMeritt, Lear Financial and Gold Central on air; touting Kevin DeMeritt, Lear Financial and other DeMeritt owned enterprises to millions of listeners, viewers or readers.

FOXNEWS Television, for example, broadcasts several of Kevin DeMeritt, Lear Financial and Gold Central's national commercials each business day with an actor from the TV show Law and Order who comforts the viewers with the promise that Lear will protect their investments and treat them fair.

In fact, according to many Lear Financial investors as well as former and current Kevin DeMeritt employees, for year's investors have been deceived and at least 3 Lear Financial employees have alleged open racial / sexual harassment by Kevin DeMeritt and Lear Financial. One former female employee of Lear Financial gave permission to publish the following information originally obtained from Rip Off Report under Corrupt Companies

[Former Employee of Kevin DeMeritt and Lear Financial]

Lear Financial - Gold Central - Buy Gold At Cost - Kevin DeMeritt crooks, dishonest sales and rip offs Santa Monica California

I am a minority woman who worked at Lear Financial for about one year. During this time employees were not reprimanded for screaming arguments regarding deals, potential deals and office politics. They were allowed to commonly use derogatory racial slurs and sexual vulgarity without consequence.

Other important points-

29 of 32 brokers were male.

28 of 32 brokers were white.

OPEN racial and sexual harassment.

NO standard selling or business procedures.

These are not financial brokers/advisors of any kind!

There are no required or accredited industry certifications (ie. series 7, series 63 etc.) of any kind to be hired as an Account Manager/broker.

When clients call, concerned about their coins, current coin evaluations or when attempting to sell they are given the run around.

Salesmen misrepresent fees by quoting just a few percentage points when actual fees are about 45%. Salesmen misrepresent coin recommendations - numismatics is not bullion, though many customers think their buying bullion.

Before purchasing from Lear Financial, aka Gold Central, aka Buy Gold at Cost DON'T!

Former Employee

Los Angeles, California

U.S.A.

[End "Former Employee"]

Here's an excerpt of statements / comments by another Lear Financial female employee, supporting allegations of wide spread deception, open sexual harassment and other wrongful or illegal business's practices by Kevin DeMeritt and Lear Financial.

[Excerpt a woman point of view]

My experiences at Lear Financial was not the best experience as an employee, in how I was treated or how I viewed the clients getting treated.

Kevin DeMeritt is greatest man in the world in the eyes of the companies he advertises with, acting very well educated and proper around them. But the longer I worked there I saw that in reality he was vocally intimidating to everyone in that office, using threating language or gestures that made people cower.

If they only knew that he has a very violent temper.

I have experienced that first hand. He screamed at me and other women many times. I cried at work many times, other women have as well, but there was no one to help us.

Kevin DeMeritt once screamed sexually vulgar profanities at a woman during dinner a company Christmas party, in front of maybe one hundred people.

As a woman you always felt tension in that office because it was mainly made up of men. Men that you can't say anything to because if you say the wrong thing and it got back to Kevin DeMeritt you got reprimanded, wrongfully.

Many times other woman I knew came to visit and one of the brokers or Kevin DeMeritt would say something sexually inappropriate to them. Kevin looks down on women, I don't know why. I remember talking to many other women who know Kevin, and we all share this same opinion.

The company in my opinion is based on a lot of deceit for both the client and employee.

Everyone in my personal life wanted me to quit or file my own lawsuit. I bet many can sue them, if they wanted to.

I do know that the brokers recorded clients because I heard them practice after work while listening to tapes with the clients (often making jokes or planning sales scams)that they had already pitched.

Many of those tapes lingered around in the office. As a matter of fact Kevin DeMeritt would use those tapes to train the new brokers. I have heard Kevin DeMeritt tell the brokers to tape their pitches and take them home and practices his pitches.

They lied a lot.

The client got sold and then they are forgotten about. In many instances the client will call the broker many times after they have been sold because they have a question in regards to their portfolio.

But many of the calls went unanswered. I witnessed brokers not wanting to deal with the aftermath of what they have done to the client. I felt bad because many clients are older people that feel they are safe investing but reality they are not.

Those brokers were so greedy that they don't care what happens to the client's portfolios once they have already gotten paid their commissions.

a woman point of view

Los Angeles , California

U.S.A.

[End excerpt "a woman point of view"]

Both woman responded to the Rip Off Report.com and since the following letter was published several others, citing similar and other wrongful business practices by Kevin DeMeritt and Lear Financial, have contacted Attorney Peter R. Dion-Kindem:

[Attorney letter to Kevin DeMeritt and Lear Financial customers]

Dear Lear Financial, Inc. Customer or Prospective Customer:

We represent a former employee of Lear Financial, Inc., a company that sells gold coins, other metals to individuals for their personal accounts and also for their IRA and other retirement accounts.

Our client has sued Lear and Kevin DeMeritt, its President, and other employees of Lear alleging that Lear and DeMeritt wrongfully terminated his employment in retaliation for his complaints about the widespread and systematic fraud and illegal tape recording of customers' phone calls perpetrated against Lear's customers, among other wrongful acts.

In the lawsuit, our client contends that Lear systematically misled its customers about the amount of commissions they were paying and overcharged them. Our client also contends that Lear also systematically violated the California Penal Code by unlawfully recording and eavesdropping on conversations between Lear salesmen and Lear customers without the customer's knowing consent. Under California law, Lear is subject to a $5,000 civil penalty payable to the customer for each such violation.

We have obtained a declaration from one Lear customer who has stated under oath that he was told that he was only being charged a 7% commission to purchase coins. The Lear documents we have obtained, however, reflect that he was charged 40%. We have obtained from Lear other documents reflecting that it charged another client 40%.

We are investigating whether you had a similar experience at Lear and would greatly appreciate it if you could call us to so that we could determine if you also were subject to Lear's wrongful conduct alleged by our client. I look forward to hearing from you in this regard.

Peter R. Dion-Kindem P.C.

Dion-Kindem & Crockett

WOODLAND HILLS , CALIFORNIA 91367

(818) 883-4400 Office

(818) 676-0246 Fax

[End Attorney letter]

Doug Hanes (invested $25,000), a Lear Financial investor, spoke to Kevin DeMeritt and the following is excerpts of Mr. Hanes's email that supports Lear Financial employee's allegations of wide spread misleading and deceptive sales practices as well as the often cited anger and dishonesty in which Kevin DeMeritt speaks to investors and employees.

[Doug Hanes excerpt dated April 4, 2007]

Mr. Dion-Kindem,

I received your letter dated March 29, 2007 asking about my dealings with Lear Financial. I had a very bad relationship with Kevin DeMeritt and Lear Financial and will assist in any way I can in your lawsuit against them.

I knew nothing of how the gold markets worked and I put my trust in a Lear salesman? I fell for his smooth talking and ended up sending over $25,000 to Lear Financial.

After about a month of additional research into the rare gold coin market, I realized I had been ripped off!

I confronted Kevin DeMeritt on the phone and had a nice loud discussion with him about their sales methods of misleading their customers. He first tried to tell me these coins were premium quality and worth the extra money. I found out later from other sources that was a bunch of BS! DeMeritt's only defense was the "sales contract" that they had me sign which had a bunch of fine print in it about markups and other crap.

I published my experiences with Lear Financial on an eBay chat room and heard back from a few other customers who had similar experiences. One elderly gentleman wanted to buy over $80,000 worth of gold bullion (current gold coins that sell for the published market price of gold) and his Lear salesman talked him into buying a bunch of low-quality rare coins that were just as over-priced as mine. Instead, the old guy is going to lose a bunch of his retirement money.

So after talking to a few other people about getting ripped off by Lear, I filed a complaint with the Better Business Bureau in California . This quickly prompted a call from Kevin DeMeritt and we had another loud conversation about their misleading sales practices.

His response to the BBB was full of lies and contradictions.

.. there was absolutely no way ever told me they were marking up these coins by 40%!

I will be very willing to testify that Lear Financial engages in widespread and systematic fraud of their customers. I have a feeling you will hear from many more former customers who have had similar experiences.

Good luck and let me know how I can help! Doug Hanes.

[End Doug Hanes excerpt]

Other Lear Financial investors have come forward with similar experiences, such as an investor from Nevada that stated I also bought gold from Lear - I think they are nothing but a bunch of crooks.

Kevin DeMeritt has many business enterprises including ReferNow, other investment type companies and several income producing real estate properties. Kevin DeMeritt's many business enterprises are currently using US radio airways, US print, US wired sources and US television to advertise his private business interest.

US Advertising sources that have aired multi-spot ads dozens of times every day of the year, including weekends, for years, with Kevin DeMeritt, Lear Financial and Gold Central reaping the benefits or allegedly conducting illegal business activities, at the expense of others, which may include the American investor.

Less not forget Government agencies such a the US Postal services and US banking institutions that have unknowingly moved hundreds of millions of investment dollars due to what many allege as the wrongful, illegal or criminal activities of Kevin DeMeritt, Lear Financial and Gold Central.

Lear investors and former employees

Aurora, Las Vegas Santa Monica and Los Angeles
U.S.A.