About Marc's OfferOctober 6, 2020 2:50PM EST
First, I need to be clear that I am not a lawyer, and this is not legal advice.
Marc Lubaszka at some point stated he made a deal with Aurum Advisors and "agreed to settle claims." While it was likely just an attempt in 2018 to clear his name, it is important.
The statute of limitations has most likely expired for money owed by Aurum Advisors (AA), as well as any possible claims of fraud. However, it sounds like Marc made an agreement (a/k/a contract) to pay this debt, with creditors being a "third party beneficiary" (kind of like the beneficiary of a life insurance policy). Most creditors are likely finding out in 2018-2020... which would mean any statute of limitations on this promise likely would not apply (for that contract, the statute of limitations would start when the beneficiaries discover that Marc personally owes them the money).
Given what he wrote, he clearly agreed to take on the debt of Aurum Advisors, to the tune of $2M (otherwise, he would likely be committing fraud). And as the owner/founder of the company, he can't say he didn't realize how much he might potentially owe.
So my take is that if someone were to contact him using his resolution page, and not get what they are owed, they would have the right to sue him (just as you could sue a life insurance company if you were the beneficiary and they refused to pay you). If he had the ability to pay, he would probably prefer to avoid that -- as a fresh batch of lawsuits in 2020 would appear more damaging than old lawsuits from 2012/2013.
Again, I am not a lawyer, and the law is complex. However, the situation today is very different than it would have been if he had not promised around 2018 to pay the claims.
Justification for PageOctober 5, 2020 12:25PM EST
When I write about bullion dealers, it is normally because they have/had serious financial issues. So I feel the need to justify starting this page (e.g. merely publishing this page implies that I believe the company had serious financial problems).
Here are some of the criteria I considered:
Rationale for Page on 2012 FailureOctober 5, 2020 11:15AM EST
Normally, I don't write about bullion dealers that had financial issues 8 years prior (except on my page Bullion Bankruptcy, Fraud, Government Actions, etc. page). Normally statutes of limitations will have passed, making such a page effectively just a history lesson.
However, this case is a bit different.
First, there was never a resolution. In the cases I have actively followed (usually starting 6 months to a year before the company shuts down), either the company files for bankruptcy, criminal charges are filed, or both. A bankruptcy automatically takes care of discovering any assets and, if enough exist to pay bankruptcy expenses, paying them out to creditors. In a criminal case, if the person is found guilty, they are usually required to pay restitution (in additional to prison time), where they owe money to the victims. Both follow a set course. But in this case, neither bankruptcy nor criminal charges occurred.
Second, Aurum Advisors owner Marc Lubaszka has stated that 100% of the claims against Aurum Advisors have been satisfied, and that he agreed to settle claims against Aurum Advisors. This was written on his website marclubaszka.com. That webpage was clearly created in 2018. It also states that he "agreed" to settle the claims for an "undisclosed amount" -- meaning that he has stated he received consideration (payment). This is very important. He appears to have published in 2018 for the first time that he is *actively* responsible for this debt. And today, that statement is still there. If there is a 4-year statute of limitations (as there is for written contracts in California), that would be good at least through mid-2022. So not only could someone take him up on his offer to pay, they could potentially sue and win a judgment.
Page StartedOctober 5, 2020 9:25AM EST
This page is about Aurum Advisors (a/k/a World Financial Daily, a/k/a GoldCoinsGain), a now defunct company run by Marc Lubaszka. According to NBC Los Angeles, the company owed at least $2M to more than 50 customers, and the FBI investgated but charges were never filed.
Normally I wouldn't start a page for a company that shut down over 8 years ago. However, I am for 2 reasons:  this was never resolved (no bankruptcy or criminal charges, yet customer never got their money back), and  Mr. Lubaszka appears to both claim that "100% of the Claims Against [Aurum Advisors] Have Been Satisfied" and more importantly he "agreed to settle claims against" Aurum Advisors.
My hope is that this page will help connect Mr. Lubaszka and his old customers to help him make good on his promise to pay back what is owed, and get this issue behind him.
(C) Copyright 2010-2019 About.Ag