Transient gold buyers forced to shut down

Transient gold buyers forced to shut down

One of the largest transient gold buying operations in the country – THR & Associates – was forced to shut its doors late Thursday evening after Beaumont Police officers entered the temporary gold buying operation set-up at the Courtyard by Marriott near Washington Boulevard and informed them they were in violation of a number of state and local laws.

The Examiner has investigated THR and its affiliated companies for more than two-years and highlighted how the company operates by conducting undercover investigations in nine states.

Primarily, the company was in violation of a new law that went into effect on Jan. 1, 2012, requiring all buyers of precious metals to register with the state and obtain a license. Additionally, the companies must provide detailed receipts to the individuals from which they are buying, according to the law. The new law was originally pushed by the Pawn Dealers Association but also received input from several numismatic associations.

THR was also in violation of a city ordinance because none of the people buying precious metals at the Courtyard by Marriott were listed on a license application with the city of Beaumont. Both the state law and the city ordinance have criminal penalties calling for a Class B Misdemeanor that includes jail time and civil or administrative penalties or fines.

THR & Associates opened their most recent gold buying operation in Beaumont on Tuesday using the alias Mississippi Gold and Silver Refinery. The name is a spin-off of another alias – Ohio Valley Gold & Silver Refinery – and is part of a network of gold buying operations using nearly a dozen assumed names belonging to THR. The embattled company is also known as the Treasure Hunters Roadshow.

According to Sgt. Mike Mills, the manager for the Beaumont show had no clue about the state law. He said he explained to them that the company would not be allowed to operate until it was in compliance with all state and local requirements. The two employees were directed to the Beaumont Police Department in order to apply for the proper city licensing but they will also have to meet state requirements set-up by the Office of Consumer Credit Commissioner for Texas and the Texas Department of Public Safety.

A phone call seeking comment from a THR representative went to voicemail.

EDITOR’S NOTE: The Examiner will have a detailed story about the new law and whether other local precious metal buying operations are in compliance in an upcoming edition of the newspaper.

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Comments

I was just recently contacted

I was just recently contacted by my work place in regards to a check I had cashed at the workplace, has bounced! I'm extremely angry about selling my old jewelrey to these crooks in May 2012 and now I'm in jeopardy of losing my job or I must pay what THR & Associates didn't pay! This is complete Bull shit and I am not happy about this whole situation.

RIPPED OFF

these people where in Kearney Nebr. July 2012. They wrote NSF checks all over the place. I will survive losing 158.10, but the elderly man waiting behind me with his life savings will probably go hungry. I will be calling the STATE ATTORNEY GENERAL.

ripped off

In a small town in Kentucky, the people in Mt Sterling were also subjects to this fraud. I also was given a cold check of $150.00, if a law suit is pending I would like to be notified, I have my canceled check as reference.

me to

i have been trying to get back my money to if there is a class action i well be there .

BOUNCED CHECKS AS RECENT AS JUNE 29th

OK, HOW to we get reimbursed for our bounced checks? I can not find a 1-800 number and the number on the check... well, I can call it 1000x but can never get a LIVE PERSON on the phone.

I guess the better question is HOW do I become a part of a class action law suit? I went and recommended that a few of my co-workers go... they received checks for more value than mine and they have ALL BOUNCED!

Signed... very pissed off in New Orleans

Try this number...

phone 217 415 6720 or this number is another V.P 217 415 9209

It belongs to the CEO of THR - Jeff Parsons.

Good luck

THR closed its doors today.

THR closed its doors today.

How long?

All crooks
Parsons - Jeff ( biggest liar con man), Jordan, Jacob (both suckers)
Enright- Matt (liar) tony (easily led)
De long - Jason very religious but happy to rip pople off. Hypocritical or what?
De Long - mike - as above.

THR-- FRAUD---- BAD CHECKS

well some of you would be happy to know that i personally have a THR check ledger with +637k in bounced and stop pay checks. sad thing is the starting balance, was almost zero.... we all know that if you write a check and it bounces because of the lack of funds to back it, it is not against the law but when you have knowledge that there are no funds to back the checks that you have been writing, that is fraud! I the proof in hand.... anybody have any ideas as to what i should do with it? lol! I was thinking about a severance package... either that or just giving it to our attorney general lisa m., i bet that would make her day.... i was one of the lucky people, haha! that got to keep their job until the last round of employee layoffs... now the only people left are the highly dedicated liars!!! KARMA IS A BIT** JEFF!!!!!!

THR bounced checks in Red Deer, Alberta, Canada

THR bounced checks in Red Deer, Alberta, Canada. THR was here at a hotel May 20-23, 2012. Bounced payment check for coins and probably other items.

Bounced Check Red Deer, AB

As the show manager, I'd like to apologize. While I had no knowledge the company was in such hot water, or that any check would bounce, I do feel personally responsible. If you contact THR on their website or call their 800 number, they will issue you a new check.

THR bounced checks May 2012 at the Agricenter in Memphis

I just found out about THR & Associates after my elderly mother called to complain that a check they gave her for some coins bounced.

It's ridiculous that a person who writes a couple of bad checks can be arrested and go to jail, but those who hide behind a corporation can fleece people all around the country for years. They not only don't go to jail, but the business is still in operation after all this time.

Transient gold buyers forced to shut down | The Examiner

I like the valuable info you provide in your articles.
I'll bookmark your blog and check again here regularly.
I am quite certain I will learn lots of new stuff right here!
Good luck for the next!

I am a personal friend of the parson family

The entire family aside from the former Mrs. Parsons, they live in a world of smoke and mirrors. Pretending to be wealthy via living beyond means, and supplementing this by stealing from people. Myself included (personal theft) I would never buy in or do business with their company. I am glad to see the problems it has had considering Jeff was one of the weirdest creepiest people I know. Having an affair and a child while married is a disgusting act and while it can be based on the performance of a company, it has to show some merit in the type of person that leads a company and sells a product. Greed.

Educate yourself!

Why would you walk into a buying show thinking you will get a great price for you stuff right away?? ... if you know anything about business it's that your there to make a buck just like every one else. Go online, talk to your friends and educate your self about what you have. Then, figure out whats a fair price and ask for it!!! I don't doubt the professional sitting across for you will just be happy you have something to sell and a story too tell!!!

Hypocrites

Anyone want to buy my old Silver Dollars for $10 each? Of course you do. So, are YOU a criminal?

As a buyer & seller of Gold, Silver, and Coins I get quite a chuckle out of the comments I see. Reality is, NO ONE can afford to stay in business if they pay the highest price for items they want to sell. Like anything else, EVERYONE wants to pay as little as possible for something they want. Ever buy a car and ask if paying the sticker price is ok? Ever buy a house & offer to pay more than the listed price? Ever check a simple ad to see what's on sale before you shop? Companies wanting to buy things always try to buy it lower - and they're no different from us.

The end is beginning

You may be pleased to know that THR is experiencing major turmoil.
It was published last weekend that axgroup of current and former
Employees has filed a class action lawsuit due to THR & Jeff Parson's
Disregard of labor laws. The eBay operation has been shut down. At least three retail
Stores are closing. Jeff Parsons is panicking. I also have a copy of an
Email, written by Jeff Parsons and sent to his remaining employees, pleading with them to make even LOWER offers to customers, so that the company can refill
Its bank account. No regard for actual value. Just pure
Greed. Payroll checks & checks cut to customers have bounced in the last
Two weeks.

The ball has started rolling - all it will take is some effort to keep
The momentum going in order to (hopefully) finally do away with this
Scourge. I'm more than happy to provide a copy of the above mentioned
Email - I think it should be republished as often as possible, and additionally should
Be sent to all venues where shows are being held and to all newspapers
That advertise shows for THR.

I've known for a long time that this business would eventually implode. It just took
Much longer than I thought it would.

Bounced Check

It was great to run across this article when doing a little background search on THR. Their "Roadshow" came through our small community and many people sold their items in hopes of getting a few extra bucks, me included. Of course the check bounced, after reading several articles and the BBB report, this is common. I have contacted them several times only to be promised a check in 10 days. I have received nothing and it is going on two months since the original transaction. I'm not done with this, is there a law suit pending for customer's bad checks?

THR and there greed !!!!

As a former Manager I can tell you that this is all TRUE. Yes, everyone has to make a buck. We all try to buy low to make money. But, when you threaten employes with lose of position / job if you do not rob people blind is wrong. Many of us employes got hosed when THR decided to screw us all out of Bonuses owed and proper wages. Now, they are clumbling and will get there day in court. There are too many Lawsuits pending to mention them all. But lets just say they will be closing there doors very soon.
The sad part is, Many ,Many employes that were honest hard workers got hosed. Several months ago the let go of over 180 employes. Yes, . How did they, well they called them at 10 PM the night before and told them sorry but we dont need you anymore. Consider it a temp layoff. Now 90% of the former and present employes are sueing. Did I join the suit, HELL YES ! will I disclose all I know, HELL YES. Have I made every attemp to contact every State agency that would have interest in THR and there scams HELL YES ! Dis I disclose everything to the IL Stae Att. that is going to hang Parsons HELL YES !!!
Mr. Parsons is a greedy man that put his greed before his company. Put his affair before his wife. Now, the wife will take it all, The State has already taken property owned by Parsons and is still taking. We all know he has stashed millions to avoid paying what he owes.
Mr. Parsons your time has come to face the pipper. I am personaly VERY pleased to see them go under.

Former Employee

After, I retired from the Army, I went to their roadshow. From there, I became an employee. I paid my way to get trained at THR and thought it was going to be a good job. I worked in Texas, and from the beginning, I knew this was going to be a bad place to work. Then when I wanted to move back to Pa, drove up to New York for a show. Then I was laid off. It is shameful that a company would do this to people, and I am glad to hear about them going down hard. It will not bring the money back for these poor customers. It really is sicken to me.

Thr

I did work for them and they bounced my check and I hear now they are bouncing checks all over the place some one needs to go to jail for this it is stealing out right you know you dont have the money and still giving checks out three time loser law on this company

law suit info

If you have the info on how to join the law suit then please email the link or number and any info u have. I am a prior manager. Thanks for any info you may have

scam job

a real scam job in taking your gold and others items one person will work with you in to check the value of each piece and give a price, and others set a side such as watches, pins and coins,the other person or manager will come and give another price, but they will pickup all the items from each stack when the person is talking to you so you don't see what going on. Have call the Company Ohio Valley Gold Refinery, no return call. this happen at Best Western Chateau Hotel in Shreveport,La. on March 1, 2012. the 2 women are professional thieves

Gold buying ripoffs

Thanks to the Examiner and thanks to the Texas legislature for saving some folks some losses. Most of these precious metal buying operations are pure ripoffs, offering 50% or less than the fair value of the metal.

They especially cheat sellers of silver coins which often have a collectors value greater than the value of the silver content.

Be careful when selling your precious metals. Get the present retail value from one the Internet sites like CNBC.COM and don't take less than 90% of that price. Also don't pay asset or processing fees. No reputable company charges fees to estimate the weight and value of your metals or process your sale.

Perfect worlds in dreamland only

Alright, in a perfect world where no one needed to worry about profit margins would you always get 90% of total value. Only two people would make such a bold statement 1) some one who thinks they know a lot about an industry they don't know anything about or 2) some one with there own angle. I've been in the industry for a while and at first glance "coin shops" give better prices but do they really? First and foremost they might give higher prices on coins at times, but that is no guarantee and second if they buy gold maybe you should ask them what percentage they are buying it at. He's right regardless of where you go do your homework and have a price in mind but frankly it isn't profitable for these places to buy everything at such high prices all the time. Most of the honest people in the industry will tell you that it is a negotiation. That's life.

Also, some one who would say the collector value is greater than the silver value or what not shows that they are uneducated because first and foremost that person would/should know that the two are inseperable concepts. Some one might by it for more than silver if they believe that it will sell for more. This will always be true for rare dates and some coin shops may do it for non rare dates if they believe they can sell it in their store front, but that becomes a retail game. That's not a real market.

My point in all this is ultimately the same as this guy. Do your homework, go in with a price, regardless of who you talk to but don't be unreasonable whether you sell at a local guy, a coin shop, or some place like THR.

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