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Convicted Gold Scammer Larry Bates Sentenced To 21 Years In Federal Prison

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Pillar of the Community
Arkie's Avatar
United States
2637 Posts
 Posted 09/18/2017  08:13 am Show Profile   Bookmark this topic Add Arkie to your friends list Get a Link to this Message Number of Subscribers
After a five-week-long trial in May of this year, former Tennessee state representative and Christian talk radio host Larry Bates was convicted of the 46 counts of mail and wire fraud brought against him in an earlier federal indictment. Larry's son Charles "Chuck" Bates was found guilty of 16 counts of mail and wire fraud and one count of conspiracy to commit mail and wire fraud. Another son, Robert Bates, was convicted of five counts of mail fraud, three counts of wire fraud, and one count of conspiracy. Robert's wife Kinsey Brown Bates was convicted of one count of conspiracy and two counts of wire fraud.

Bates founded First American Monetary Consultants (FAMC) in 1985, and was the company's chairman until it went out of business. With offices in Memphis and Boulder, Colorado, FAMC claimed to offer expertise in banking, government, business planning, intelligence, economics, economic development, finance and forecasting to businesses and politicians. And using $4 million funneled from customers who never received the gold or silver they had purchased from him, he also bought and operated the Information Radio Network (IRN), a radio station that featured political and economic news and opinion from an evangelical Christian viewpoint.

http://coinweek.com/bullion-report/...eral-prison/
Rest in Peace
moxking's Avatar
United States
17900 Posts
 Posted 09/18/2017  10:22 am  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
You gotta wonder how it took 5 weeks to figure that out.
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Mark1959's Avatar
7234 Posts
 Posted 09/18/2017  10:24 am  Show Profile   Bookmark this reply Add Mark1959 to your friends list Get a Link to this Reply
21 years, Yikes - what a life style change a coming.
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Coconutjoe's Avatar
United States
1475 Posts
 Posted 09/18/2017  10:32 am  Show Profile   Bookmark this reply Add Coconutjoe to your friends list Get a Link to this Reply
Lowest form of bottom feeders, IMO.

Using religion to defraud innocent & credulous people.
Rest in Peace
Parklane64's Avatar
United States
2668 Posts
 Posted 09/18/2017  3:35 pm  Show Profile   Bookmark this reply Add Parklane64 to your friends list Get a Link to this Reply
OK, you just made me flash back on Tammy Faye Baker playing Mimi's mother on The Drew Cary Show.

Bedrock of the Community
Earle42's Avatar
United States
10038 Posts
 Posted 09/18/2017  6:25 pm  Show Profile   Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply
Yup - Christians are not perfect...we are tempted and can fail/fall just like everyone else.

When a Christian prays to God and asks for their sins to be forgiven realizing this is only possible b/c Christ's death was offered to us for free for payment of our sin debt (eternal separation from God - not in Heaven), it does not mean we get rid of our sin nature. It means the penalty of our sins will not be held against us since it has already been paid for - we accepted His (amazing is such a weak word to use) free gift.

A lot of people I have met expect Christians to be perfect b/c they don't understand what being a Christian means.

There is an old saying, "Christians are NOT perfect, just forgiven." Where the word forgiven means on an eternal level. We still deserve what we get when we break the codes of justice while still in this life.

How much squash could a Sasquatch squash if a Sasquatch would squash squash?
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kg5's Avatar
Australia
491 Posts
 Posted 09/19/2017  6:38 pm  Show Profile   Bookmark this reply Add kg5 to your friends list Get a Link to this Reply
If you are faced with the issue to forgive all as a Christian leader, who will be judged more than others.

Each week we pray for all people but we do not pray for what they do we pray for them.

And yes it is hurtful to see this witness example on this thread.

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trout1105's Avatar
Australia
7096 Posts
 Posted 09/20/2017  02:21 am  Show Profile   Bookmark this reply Add trout1105 to your friends list Get a Link to this Reply
A Scumbag is a Scumbag regardless of what God/Gods he/she preys to
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4504's Avatar
United States
379 Posts
 Posted 09/22/2017  10:21 am  Show Profile   Bookmark this reply Add 4504 to your friends list Get a Link to this Reply
well, at least it was a family affair... something that the whole family could work together on. too bad it was criminal!
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UltraRant's Avatar
Norway
1358 Posts
 Posted 09/29/2017  6:50 pm  Show Profile   Bookmark this reply Add UltraRant to your friends list Get a Link to this Reply
with trout!

This doesn't have anything to do with being religious, just with being a scumbag and targeting a certain audience.
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Coinfrog's Avatar
United States
94367 Posts
 Posted 09/29/2017  7:06 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Arkie - Thanks for this story, most interesting.
Pillar of the Community
United States
1913 Posts
 Posted 10/04/2017  9:22 pm  Show Profile   Bookmark this reply Add Bret to your friends list Get a Link to this Reply
In business, it's not wise to take from a successful business to fund one that isn't self supporting. Assuming that they didn't go in to it with the intention of defrauding investors, at some point they were definitely over the line knowing that money they were taking could not be paid back. It's no different than the Social Security Ponzi scheme. Well, except that the politicians who brought us Social Security won't go to jail. They just change the law and don't pay people back the money they're owed.
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