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Global Royalties Limited - BEWARE !
In 2005 I was approached by Global Royalties Limited to invest in Gemstones, the Company seemed to check out alright and in September that year I agreed to invest in a pair of Ruby Gemstones at a cost of about CDN$4000.00
A few moth later I was contacted by Global Royalties and was told that my Ruby’s had increased in value and I should move up to an Emerald which would be a stronger position, as I had made a modest profit on the Ruby’s I agreed and invested about CDN$11000.00 in a 1.10 ct. Emerald. I was told to expect to hold it for six to eight month at which time it should fetch about US$13000.00, and sure enough a few month later they called to say that it had gone up indeed and it would be wise to add more cash and invest in a larger stone.
I asked them to sell the Emerald before making this decision and this is when things changed, now the story was that the Emerald could not be sold at this time as there was “no market for stones that size” and “to be patient”. Well, I have been patient for four years, seems their only interest is to keep selling you more expensive gems with the promise of big profits which never materialize.
I have all documentation regarding my transactions and if you would like more details about my experience with Global Royalties feel free to contact me. [protected]@telus.net
The complaint has been investigated and resolved to the customer’s satisfaction.
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Has any of you open a FILE complain with the RCMP so we can all do the same?
Thank you
I have also had somewhat similar experience to those listed above. My dealings with Global started about 10 years ago, several trade-ups to end up with a very large emerald ring. I was always treated well by Global in terms of their following-through with their offers in a punctual manner. They tried to sell my stone in Dubai twice at a high end jewellery trade-show with Sheiks and Princes attending etc. I think it was legitimate because I saw the video and actually saw my ring in their showcase. i think the problem lies in the true value of my stone which I believe is much lower than what I paid and hoped it was worth. I tried to consign Christies to sell my ring but they were not interested. I suspect they smelled something rotten and do not want to be associated with it because of it's origin being from Global Royalties. I am not convinced that I would have any legal grounds to sue. Is it any different than paying too much for a used car?
Hello, We have also been scammed by Global Royalities working out of an office in Mississauga with a total investment of almost $90, 000.00 over five years. Their office has been shut down, no forwarding address left with the new business that is there now. The people we dealt with are David Brook, and Brandon Hall.(not for a few years with him). We are booked to take in the last large gemstone (we purchased after numerous trades up, and had made into a ring), to be appraised near the end of Jan/2015. Then we will know it's true worth and can better know where we stand. We are also in the midst of talking to the RCMP. Everyone who feels they have been a victim of the Global Royalties scam should go to the RCMP. Back in the comments someone posted a link to a similar fraud scheme which ended about 1996. Note some of the names, all very consistent with Global names, just variations of first and last names No doubt in my mind it is some of the exact same people. Here is the link I was talking about: http://www.crimes-of-persuasion.com/Crimes/Telemarketing/Outbound/Major/Investments/gemstones.htm
Do not write this off as a loss (except for your taxes :)), report fraud, fight this, so others don't get taken like we did.
Hey Everyone,
For anyone trying to find these people, my best advice would be to look on job boards (indeed, workopolis, monster, etc. - make sure you're looking at the Canadian versions and using the resume search functions). Since the company is now out of business, I'll bet you'll be able to find their resumes and contact information to pursue litigation.
Also, this might be interesting to anyone who dealt with "William Brown": http://wgranvillebrown.com/
Good luck, guys!
No one is going to "help you" get out of your diamonds!
That money is lost, gone, vamanos. The only thing those companies that are trying to "help" will do is take more money from you.
Those stones that you purchased had a minimum 3-400% mark up. Do the math. A stone you bought for 10k is worth about 2500 wholesale, which means someone buying it from you is gonna offer 1500 max.
Next time be smarter with your money. Diamonds are not an investment!
I was also scammed in all the ways described above. I dealt with Robert Wilson, Geoffrey Black and Tammy Ruscillo who knows if these are the real names. If anyone has more info please share we all have one thing in common we all fell for the deal. Besy to luck to us all.
I was scammed by Global Royalties approximately three years ago. They contacted me out of the blue to purchase a ruby, then a small emerald, and then a larger emerald. When I wanted to sell they (William Brown) told me that in the sales contract I signed, I could expect to wait a minimum of five years before I would be able to be in the position to sell. I am sure many of you reading this have experienced a similar situation with the company. The only piece of good news to come of this is that it appears this scam of a company is finally no longer in business according to their website that is no longer in service and the toll free and 905 area code number no longer in service. I would like nothing more to see these people suffer with stiff penalties that would likely pale in comparison to what they have done to countless victims such as readers of these complaints. The people I have dealt with or had conversations with while GRL was still in full scam mode, are David Brook, Brandon Hall, Danny Matar aka Dikhran Katcherian, and William Brown. I would be more than willing to support and join any sort of legal action against these above listed individuals. I have also experienced that GRL has sold their contact list to whomever and now have started to receive calls from these "companies" trying to "help" with my situation. Does anyone have a line any reliable company that will be able to sell these gemstones for victims of Global Royalties? One such company that has contacted me recently is Escade Diamonds, are they a trustworthy company working in the customers best interest, or just another rip off waiting to happen? I appreciate any feed back from anyone.
Guys, there is also another website with complaints about Global Royalties /link removed/
Is there some way we can all communicate and start some sort of legal action? I found a precedent lawsuit that sounds pretty similar to what we have experienced http://www.crimes-of-persuasion.com/Crimes/Telemarketing/Outbound/Major/Investments/gemstones.htm
Jose Cactus, that is a scam, that is how they opérate, plus yellow diamonds arent that that valuable and not to many people want them.
Trust me same situation you had and I went from a nice pink diamond to 2 yellow ones.
No I am stock with them Global Royalties only said we are slow now but call in the Winter and see what we can do!
I suggest that we get here the name of the all the people that work there and search for them online and tag them online.
I dealed with David Brook.
I've been contacted by a fellow with a diamond business and a website in the Toronto area. He has a deal for me to trade my emerald up to a fancy yellow diamond, and then he is going to buy the diamond from me in a couple months in order to fulfill a $20m to $200m contract to supply diamonds. He has supplied me with a picture of the diamond, along with a certificate and appraisal of it's worth, and his website has quite a few diamonds listed, as well a category for emeralds. The proposed trade sound too good to be true, and the greed in me wants to take the trade, but my stomach is telling me to take it easy. I'm not at all interested in owning another gemstone that I can't get rid of, in the event that he doesn't buy the diamond from me in a couple of months. He has a big hook in that I get my original purchase price of the diamond back plus $5k profit. I asked him how he got my name and information about my emerald from Global Royalties, but I couldn't follow what he told me because it was very general and evasive. I also asked him why he just wouldn't do the deal directly with the diamond owner. He said that the guy wasn't a member, but he didn't say what he wasn't a member of. Has anyone else been approached with a scheme like this?
I also have been "taken to the cleaners" by Global Royalties and I can tell you from experience that a civil legal action does not scare these types. However a criminal action brought by a large enough group of people can result in real jail time for these crooks. The likelihood of recovery (in my opinion) is extremely low but gets less with time. As a US citizen there are several government agencies that regulate and investigate consumer investment fraud. The Securities Exchange Commission, US Secret Service, state Attorney General"s Office of Consumer Affairs as well as others. I am not sure what the corresponding Canadian agencies would be but they need to be contacted IMMEDIATELY by a Canadian citizen. I have some resources in the US Secret Service that I will reach out to but I am not sure of there reach outside the US. There is strength in unity and we need to locate as many people in the same situation and alert the proper consumer agencies pronto!
Be careful if someone calls you about selling your gems that you purchased from Global Royalties. They give other scam artist your contact info. I have been contacted in the past by about 6 other companies or individuals. If we can find Brandon Hall then, yes we can take legal action.
Hi all,
I would not be surprised if they are in receivership. Their phone numbers are disconnected and their website is gone. I guess I'm screwed. Well at least I have gem stones that are worth probably less than half of what I paid for them. I have already filed a complain with the BBB but that will do nothing if the company doesn't exist anymore. Not sure if a lawsuit is even plausible at this point. Global screwed over a lot of people over the last few years and I am unfortunately another one. Should have done way more due diligence first.
Gunter, This is exactly what happened with me. They always would say that "be patient". I just had a fellow call me to say the Global Royalties is in receivership and he has been given the task of helping people liquidate their holdings. I'm not sure if he is legitimate or not yet, but I don't know how else he would have my number and that I purchased from Global Royalties.
I was solicited out of the blue by Global Royalties as well. A nice kit showed up in the mail, videos, pamphlets etc. I was somehow talked into buying the first Ruby but started to question the whole process during the initial transaction. I guess I should have listened to my gut instinct. Only after i gave them the money i decided to check up on the company with BBB and other complaint boards only to find what I suspected that it is a scam. I have a little red stone in a nice attractive box at home. I have contacted them several times over the past number of years to see if they would sell it for me and received the same story to be patient etc. I have all the email correspondence on the matter for back up. Hard to believe they have not been able to sell one small "ruby" over the course of about 6 years. I'm not holding my breath. I only hope others do a bit of research before sending the folks at GR any of their hard earned money. They are a scam it not an investment.
My infirm father was conned out of much of his savings by global royalties. After reading the above complaints I see now how they were able to keep getting money out of him in incrementally increasing amounts. The story I was able to gather is the gems and jewellery are taken to some big jewellery trade show in the middle east and sold to oil rich royals. Its a total pie in the sky scam, what ended up happening is as my fathers conditioned worsened and he needed to get his money out for medical bills it was unavailable. These people a heartless vultures of the highest order. Avoid any dealings with them. Stopcrying123 is no doubt a shill for the company.
I had the same situation as Gunter246 except that I only purchased the first Ruby. They of course quit calling after I would not move up without the ruby being sold. After a couple of years I called to see if it could be sold and of course got the "be patient routine" and no call back for over a year. I am not that concerned about the money but think people should know it is a scam.
It's one thing to loose money on an investment, but another to get scammed out of your savings by con artists. Shame on Global Royalties.
If they can't sell it for you then why don't you just sell it somewhere else yourself, post it on Ebay or something. Some people are absolutely helpless! I've bought stocks, precious metals, real estate, gemstones, colored diamonds, you name it, sometimes you make money and sometimes you don't. I have property that I could have sold within days of listing it had I sold it a few years ago that I probably couldn't give it away right now. That's the way it goes, be man and either sell it for what the market will bring or keep but quit crying like a baby for the whole world to see! No one wants to take responsibility for their own actions anymore, irritating!
Update: As Global Royalties shows no interest in resolving this I decided to check with a a legitimate gem dealer (not a pawn shop or such) as to the real value of this emerald. According to them it is worth about US$3500.00, nowhere near the $11, 000.00 that Global Royalties charged me for it. I was also cautioned about the clarity enhancement present on this stone, which could make it worth even less. Next it will have to be removed from the casing to get an accurate appraisal.