They Came to See Trump. First They Heard a Pitch to Buy Gold and Silver.

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Turning Point Action Embraces Controversial Sponsors, Raising Concerns About Ethics and Influence

Turning Point Action, a rapidly growing conservative activist group, has faced scrutiny for its close ties to a company accused of defrauding investors, Fisher Capital. Despite a federal lawsuit filed against Fisher Capital, alleging exorbitant pricing and deceptive sales practices, the company has continued to be a major sponsor of Turning Point Action events, including a recent conference featuring Donald J. Trump. This raises questions about the group’s willingness to accept money from organizations facing serious legal allegations, potentially blurring the lines between political activism and financial gain.

Key Takeaways:

  • Controversial Sponsors: Turning Point Action has partnered with both Fisher Capital, which is facing a federal lawsuit for alleged fraud, and New Federal State of China, whose founder was charged with defrauding investors of over $1 billion.
  • Blending Commerce & Politics: The group’s events, which attract thousands of attendees and are underwritten by corporate sponsors, present potential opportunities for these sponsors to reach a large audience.
  • Allegations of Lack of Transparency: Critics argue that Turning Point Action’s acceptance of these sponsorships demonstrates a willingness to prioritize financial gain over ethical considerations.
  • Possible Conflict of Interest: The close relationship between Turning Point Action and its sponsors, particularly Fisher Capital, raises concerns about potential conflicts of interest and blurred lines between political activism and commercial interests.
  • Implications for Conservative Politics: The reliance on sponsors with checkered pasts could cast a shadow over Turning Point Action’s role in shaping the conservative movement.

A Controversial Partnership:

Fisher Capital, a precious metals investment firm, has been accused by the Commodity Futures Trading Commission (CFTC) of using deceptive practices to sell gold and silver coins at exorbitant prices, leaving numerous customers with substantial losses. Despite these allegations, Fisher Capital continues to be a prominent sponsor of Turning Point Action events, even appearing on stage with Donald J. Trump at a recent conference in Detroit. Alexander Spellane, the owner of Fisher Capital, also claims to be the largest corporate sponsor of Turning Point USA, a sister organization. The company’s involvement with Turning Point Action has raised concerns about the group’s ethical standards and its willingness to accept money from questionable sources.

Turning Point Action’s Response:

A spokesperson for Turning Point Action, Andrew Kolvet, defended the group’s relationship with Fisher Capital, stating that they have "no lack of scrutiny" and ensure compliance with regulations. He further argued that the group presumes the innocence of its sponsors until proven guilty. However, critics, including Michael Steele, a former chairman of the Republican National Committee, argue that Turning Point Action’s acceptance of sponsors with legal issues signals a prioritization of financial gain over ethical considerations. Steele described the relationship as "an incestuous relationship between the folks with the money and the folks who want the money."

Turning Point’s Ties to Other Controversial Entities:

The controversy surrounding Fisher Capital is not an isolated case. Turning Point Action has also partnered with New Federal State of China, an organization founded by Guo Wengui, who was indicted on charges of defrauding investors through bogus cryptocurrency deals. While Turning Point Action claims to have no future agreements with New Federal State of China, the association raises further questions about the group’s vetting process and its willingness to work with individuals facing significant legal issues.

Potential Consequences for the Conservative Movement:

The presence of sponsors with tarnished reputations could ultimately harm the reputation and credibility of Turning Point Action, as well as the conservative movement at large. This could lead to public skepticism about the organization’s motives and its purported commitment to ethical principles. Furthermore, the group’s reliance on sponsors with questionable practices could be viewed as a departure from traditional conservative values of financial accountability and transparency.

A Deeper Look into Fisher Capital:

The CFTC lawsuit against Fisher Capital alleges that the company systematically overcharged customers for gold and silver coins, often by as much as 200% over market value. The company is accused of targeting older, unsophisticated investors, exploiting their retirement savings through deceptive marketing tactics. The lawsuit further details how Fisher Capital targeted Christian conservatives, falsely claiming to partner with conservative media personalities to help them navigate the financial crisis and protect their investments.

Turning Point’s Role in Promoting Fisher Capital:

The sponsorship of Fisher Capital events by Turning Point Action has provided the company with significant access to a conservative audience. Alexander Spellane used the platform to promote his company, even offering a $10,000 free silver incentive to attendees who visited the Fisher Capital booth. Attendees like Jeff Strasser, a former carpenter and truck driver, expressed trust in Fisher Capital due to the association with Turning Point Action, highlighting the potential power of these partnerships in influencing purchasing decisions.

The CFTC’s Investigation and a Potential Warning:

The CFTC is currently pursuing a legal action against Fisher Capital to prevent the company from trading commodities and recoup losses for investors. However, the lengthy legal process could result in significant delays, leaving investors vulnerable while the company continues to operate. A spokesperson for the CFTC acknowledged that by the time authorities are able to shut down a fraudulent operation, the money is often gone, underscoring the potential risks associated with these types of financial schemes.

Moving Forward:

This case raises critical questions about the role of financial sponsorship in political activism, particularly in an era defined by growing distrust in institutions. The continued involvement of organizations with questionable financial practices in conservative political events raises concerns about ethical boundaries and the potential for conflicts of interest to undermine the legitimacy of political activism and the credibility of the conservative movement as a whole.

Article Reference

Olivia King
Olivia King
Olivia King is a social media expert and digital marketer. Her writing focuses on the most shared content across platforms, exploring the reasons behind viral trends and the impact of social media. Olivia's expertise helps readers understand the dynamics of online sharing.