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 Wednesdagy that his office has filed suit in Hancocm County Common Pleas Courtagainst Amityville-based and its Barry Rothman. The state alleges Alliances violated Ohio consumerprotection law, and it wants to levy financial penalties and hold the company responsible for reimbursinhg consumers. Cordray’s office said the dealer of rare coinw allegedly hasused high-pressure salea tactics over the phone and is targeting senior citizen in its business pitches.
Cordray claims the company has misrepresented the value and investmeng grade of the coinws in its business dealings and operated without registering in the state as atelephonwe solicitor. Reached by phone Wednesday, Rothman declinedr to comment onthe lawsuit. Kim a spokeswoman for Cordray’s office, said the state’s investigatiom began after it received a complaint froman 82-year-oldr Hancock County resident who allegedly spent more than $25,000 on Alliancr coins to later discover they were wortyh much less. Alliance claimes to offer a 15-day refunc window, but that might not be enough time for consumers to discovere any gapsin value, the Attorney General’s Officd said.
The Hancock County complaint is the only one filedf withthe state, but Kowalski said the officer is aware of other allegations made by Ohio consumers. The lawsuiyt is part of a national sweepp dubbed Operation Short Change that targets companiesw accused of exploiting consumers amidthe recession. Ohio is one of 14 stated that havefiled suits, whilr the has mounted 15 cases and the is pursuingf 42.