FOR IMMEDIATE RELEASE CONTACT: Jennifer López
DATE: September 7, 2012 702-486-3782
NEVADA ATTORNEY GENERAL CONSUMER ALERT: BEWARE OF
Las Vegas, NV – Nevada Attorney General Catherine Cortez Masto is warning
Nevadans about misleading advertisements, as a result of an advertisement by Ohio
based World Reserve Monetary Exchange (WRME) run on August 29, 2012 in the Las
Vegas Review Journal.
“These confusing ads, which are designed to look like an official news story, have the
capacity to mislead consumers,” said Masto. “The picturing of the products is unclear
and inconspicuously identifies the total price for each items featured. What is omitted
from the ad is that the contents of these ‘vault bags’ do not necessarily meet or exceed
the price paid for each bag. During tough economic times, it is troubling that people are
fooled into believing misleading ads.”
WRME, which sells coins, paper currency, and safes, placed a full-page color ad titled,
‘Cash in limbo goes to residents in 15 of 17 Nevada counties’, claiming that “bags of
U.S. Gov’t issued money loaded with a small fortune are up for grabs”. The ad
continues by saying residents of fifteen Nevada counties have forty-eight hours to claim
their bags at a fee of $149 for the vault bag fee. The ad guarantees that each vault bag
contains 11 U.S. Government issued notes, which amounts to $23.
On January 12, 2012 the Santa Cruz County District Attorney’s Office announced a
$223,000 settlement with this company over deceptive ads that offered California
consumers free gold coins. The advertisement failed to mention that 32 of those coins
had not been minted and that the price for the completed set would cost hundreds of
dollars more than the advertised price.
The Better Business Bureau, which rated WRME as an F, logged 249 complaints
against the company, mostly for misleading advertisements.
Complaints about this ad can be reported to Federal Trade Commission and Better
Click http://bit.ly/WorldReserveMonetaryExchangeAd to view the ad.