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Scam: #2252

Scam Alert

Business

  • Posted By: Anonymous
  • Submitted: 03/01/2011
  • Severity: 8
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Bead Palace

Wholesale bead scam

Bloomington, Indiana

They set us up this way:
Had their sales agent Sandra Prout in Tucson represent herself as an independent consultant. Bead Palace, with her help (later identified as their commissioned agent), then more than doubled a shipment of merchandise to our Tucson store. The dollar amount they claimed was staggering (148,000). Because of the fraud, we had to inventory the material (took months) before returning it. The company then refused to take the material back, changed payment arrangements, and then finally sued for a balance they claimed we owed (we have written agreements for an on-going payment plan, which they ignore). At the end of 2010, they decided to assess a 2% interest charge on balances owed (even though the purchase was started in 2008, without a credit agreement).
If you need a different bead wholesaler, try this one: IGM in Santa Clarita. SII Findings for silver of all types (although be sure to ask for sterling or fine silver--all these guys are how carrying pewter and silver mixes, so if you don't know what it looks like, ask!)

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