BCC Exonerated From Fraud Charges, Accuser Apologizes
Charges involving Lakeville, Minn. firm are dismissed with prejudice in settlement including apology and modest award to BCC by complainant Linda Keith;
letters to state attorney general and Better Business Bureau saying
dealer did not “engage in any illegal or unethical conduct”
A woman who had charged a Twin Cities gold and silver coin dealer with fraud has reversed her position, saying in a letter of apology that BCC Precious Metals did not “engage in any illegal or unethical conduct.” The letter was part of a settlement accepted by Minnesota District Court Judge Ivy Bernhardson that dismissed with prejudice the charges made by Linda Keith.
“It is heartening that BCC Precious Metals has been vindicated and that this cloud of doubt and suspicion has been lifted,” said Leonard Barber, president and CEO of BCC. “We always seek to conduct our business honestly and to treat our customers fairly and with respect.”
In her letter of apology, Keith said she filed the lawsuit and contacted authorities thinking that her parents had been exploited. “After further discovery and investigation, I learned my assumptions about the business transactions are wrong,” said Keith. “BCC, Barber, Boyd and McNamara did not take advantage of my parents or engage in any illegal or unethical conduct.” (Apology letter from Linda Keith)
In addition to the civil suit, Keith filed a complaint with the Minnesota Attorney General’s Office and the Better Business Bureau of Minnesota and contacted the Bloomington Police Department. Soon after the suit was filed, the Star Tribune published an article by Dan Browning which discussed the matter at length and included comments from Keith.
“I apologize for starting the Lawsuit, for the statements made to Dan Browning, the complaints filed with the Minnesota Attorney General’s Office and the Better Business Bureau, and for notifying the Bloomington Police Department,” said Keith. “I recognize that my actions have caused harm to BCC, Barber, Boyd and McNamara and damaged their reputations.”
Sums were awarded to both McNamara and BCC to defray attorney costs as part of the settlement.
“I am pleased that we can now put this matter behind us and proceed to serve our customers,” said Barber. “This type of action does not affect the firm alone, but there is also personal pain for the individuals accused, and their families.”
Founded in 2002, BCC Precious Metals, a division of Barber Coins & Collectibles, markets and buys gold and silver coins and other collectibles nationwide from its base in Minnesota.
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