Coin company accuses Virginia man of defamation

Kelly Holleran Oct. 28, 2014, 1:15pm

Universal Coin and Bullion seeks money from the Virginia man whom it alleges engaged in defamatory statements against it and accused it of selling coins for more than their worth.

Universal filed a lawsuit Sept. 11 in Jefferson County District Court against John Doe.

In its complaint, Universal alleges Doe has utilized multiple aliases to anonymously publish and post to third parties June 10, 2014, false statements regarding the company, which sells gold, silver and other coins throughout the United States. 

According to the complaint, some of Doe's postings accuse Universal of trying "to high-pressure me into buying grossly overpriced modern coins for multiples of their true [melt] value."

"A more appropriate name for 'Universal Coin and Bullion' would be 'Overpriced Bullion Masquerading as Investment Quality Rare Coins,'" Doe continued in his posting, the suit states.

In addition, Doe accused Universal of fraudulently representing its products, of cheating customers via schemes involving the fraudulent representations of their overpriced bullion coins and of using high pressure sales tactics directly at ''elderly dementia and Alzheimer's patients."

Universal accuses Doe of failing to comply with the Texas Defamation Mitigation Act, of defamation and disparagement.

In its complaint, Universal seeks actual and special damages of more than $200,000 but no more than $1 million, plus attorney fees, costs, pre- and post-judgment interest and other relief the court deems just.

Bruce M. Partain of Wells, Peyton, Greenberg & Hunt LLP in Beaumont will represent Universal Coin.

Jefferson County District Court case number: A196-105.

This is a report on a civil lawsuit filed at Jefferson County District Court. The details in this report come from an original complaint filed by a plaintiff. Please note that a complaint represents an accusation by a private individual, not the government. It is not an indication of guilt and it represents only one side of the story.

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