Kevin DeMeritt

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    Finance
  • Views
    165
  • Reviews
    31

About Kevin DeMeritt



Leading US precious metals corporation Lear Capital is owned by Kevin DeMeritt. Since 1997, DeMeritt has led Lear Capital to become a trusted name in gold, silver, platinum, and other precious metals trading. DeMeritt is known for his skill in precious metals investment, which he has discussed in numerous media venues.

Kevin DeMeritt

  • category
    Finance
  • Views
    165
  • Reviews
    31

1.8

trust score

3.2

brand audit

2.15

user’s score

31

user reviews

High risk
Founded Lear Capital in1997 SpecializationPrecious Metals Target AudienceSenior Citizens IRA ServicesYes
Net WorthUnknown Faced Regulatory ActionYes AML ConcernsHigh Transparency ScoreMedium
Fraud AllegationsYes Adverse MediaYes (multiple) Risk Factor0.80 Brand AwarenessHigh
Negative ReviewsYes (multiple) Deceptive Marketing AllegationsYes Conflict of Interest ConcernsHigh Suspicious ClaimsYes
An overview on Kevin DeMeritt
Kevin DeMeritt is the founder and owner of Lear Capital, a prominent precious metals company based in the United States. Established in 1997, Lear Capital has grown under DeMeritt's leadership to become a trusted name in the buying and selling of gold, silver, platinum, and other precious metals. DeMeritt is well-regarded for his expertise in the field of precious metals investment, a subject on which he has frequently shared his insights through various media outlets and publications. His company, Lear Capital, prides itself on offering personalized investment services, focusing on helping individuals secure their retirement savings against economic fluctuations and currency devaluation. Kevin DeMeritt's approach to business emphasizes customer education, transparency, and ethical practices. Through Lear Capital, he has played a significant role in guiding investors towards incorporating precious metals into their portfolios, highlighting the assets' historical stability and potential for hedging against inflation. DeMeritt's contributions to the precious metals market and investment strategies have made him a respected figure in the industry.
User score
2.15
Trust
experience
service
ethics
Pros
  • Highly experienced
Cons
  • Faced legal proceedings
  • Received many complaints
  • Suspicious claims
2 RED FLAGS FOR Lear Capital

Lear Capital has a consumer rating of 2.15 stars from 31 consumer complaints and reviews indicating that most customers are NOT satisfied with their experience. Consumers unhappy with Lear Capital most frequently mention bad support and high costs.

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critical intel on Lear Capital

NY Attorney General Secures $6 Million from Lear Capital

New York Attorney General Letitia James announced a $6 million settlement with Kevin’s company Lear Capital, Inc., resolving a lawsuit that accused the company and its founder, Kevin DeMeritt, of not disclosing millions in commissions charged to consumers. This settlement, resulting from a 2021 lawsuit, requires Lear to overhaul its business practices in New York and ensure transparency with its fees. The lawsuit highlighted Lear’s practices of persuading investors, including many elderly, to invest in precious metals while charging undisclosed commissions as high as 33%, in violation of state laws. The $6 million will be distributed to affected New York customers, with Lear also agreeing to clear fee disclosures, a 24-hour cancellation option for certain transactions, improved complaint tracking, and personnel training. Attorney General James emphasized the importance of protecting New Yorkers’ investments and ensuring transparency in financial dealings.

First PostedJanuary 2022 Allegations Deceptive Marketing Add. AllegationsUndisclosed Commissions Regulatory AuthorityAttorney General Office (New York)
Lawsuit Filed in2021 Future Condition #1 for LearClear fee disclosures Future Condition #2 for LearEnhanced compliance tracking Future Condition #3 for Lear24-hour cancellation option

Top 3 negative keyword association :

  • Deceptive
  • Fraudulent
  • Misconduct
DC State Regulator Recoup Overcharges from Kevin DeMeritt's Lear Capital

According to the DC Department of Insurance, Securities, and Banking (DISB), Lear Capital, Inc.’s bankruptcy plan was designed to provide compensation to retail precious metals buyers. Lear was investigated by DISB and State securities authorities for engaging in fraudulent securities and commodities practices and for engaging in misleading marketing during its bankruptcy.

Lear Capital gave $5.5 million to precious metal investors as part of the bankruptcy arrangement. Investors who submitted bankruptcy claims on time were eligible for reimbursements based on the bankruptcy plan. The remaining cash will be distributed pro rata to investors who did not make claims. Investors who had purchased precious metals between January 1, 2016, and March 3, 2022, received the pro rata payout.

Lear had also agreed to improve its sales practices and disclosures, refrain from misrepresenting its fee, cease offering portfolio assessments of securities holdings, stop representing itself as an investment adviser, and avoid providing investment advice or engaging in securities or commodities fraud as part of its bankruptcy plan.

Commissioner Karima Woods stated that Lear Capital had deceived investors by persuading them to liquidate their retirement savings and purchase precious metals, all while failing to disclose the appropriate fees. This deceptive practice resulted in the company earning millions of dollars in fees and revenue. DISB continued to hold responsible financial service providers that had benefited from District residents through deceptive or unlawful ways, in order to safeguard investors from dangerous and dishonest business practices.

A company based in Los Angeles sold and bought back metals through direct-to-consumer and self-directed IRA transactions. Regulators alleged that it engaged in misleading business practices and violated investor protection regulations. The issues were remedied by the company’s $5.5 million bankruptcy deal.

First Posted2023 Allegations Deceptive activities Add. AllegationsMisleading marketing Investors EligibilityLear Capital customers between 2016-2022
Investigating AuthorityDISB Investigating CommissionerKarima Woods Settlement Amount$5.5 million Future Condition #1 for Kevin's FirmStop misrepresentation
Future Condition #2 for Kevin's FirmStop offering financial advice

Top 3 negative keyword association :

  • Fraud
  • Misleading marketing
  • Investing scam

31 Comments

Lear Capital has a consumer rating of 2.15 stars from 31 consumer complaints.
  1. trust
    1
    Experience
    1.5
    Service
    1
    ethics
    2

    The Attorney General’s intervention was welcome since I had concerns regarding Lear Capital’s conduct. The deal is a win for customers who want financial institutions to be transparent. I hope this sends a message to other companies that deception is unacceptable.

  2. trust
    3.5
    Experience
    3
    Service
    3
    ethics
    2.5

    Fooling poor innocent old people and looting with their hard-earned money is a matter of shame. Shameful guy!!!

  3. trust
    1.5
    Experience
    1.5
    Service
    2
    ethics
    1

    The agreement made with Kevin DeMeritt’s organization i.e. Lear Capital is a win for those who were misled about the expenses associated with their investments. Businesses must remain open about their charges, especially when serving vulnerable populations like the elderly. I commend Attorney General Letitia James for her steadfast commitment to upholding corporate accountability and protecting investors’ interests.

  4. trust
    3
    Experience
    2.5
    Service
    3
    ethics
    3.5

    Engaged in deceptive activities and misleading marketing in the name of providing guidance should not be supported and this company should be legally closed.

  5. trust
    3.5
    Experience
    3
    Service
    3.5
    ethics
    3

    Lear Capital is a ridiculous company that advises gullible people how to embezzle their money through financial advice.

  6. trust
    2.5
    Experience
    3
    Service
    2.5
    ethics
    3.5

    Offering individualized financial services, Lear Capital takes pleasure in assisting people in protecting their retirement funds against market and currency volatility. However, the reality is that all of this is a fiction.

  7. trust
    2.5
    Experience
    2.5
    Service
    2.5
    ethics
    2

    Deceptive techniques doesn’t take anyone long way. People should know this before scamming people.

  8. trust
    3.5
    Experience
    3
    Service
    3.5
    ethics
    3

    Playing with people’s trust in terms of providing financial help is such disgusting

  9. trust
    3.5
    Experience
    3
    Service
    3.5
    ethics
    2.5

    Ridiculous! There should be proper laws implemented in order to stop these scammers cam elderly poor people out of their valuable money.

  10. trust
    2.5
    Experience
    3
    Service
    3
    ethics
    3

    He is nothing but a scammer. Stay away!

  11. trust
    3
    Experience
    3
    Service
    3.5
    ethics
    2.5

    He should be punished for what he did. Awful!!!

  12. trust
    1
    Experience
    1.5
    Service
    1.5
    ethics
    1.5

    Lear Capital is one of the biggest gold scams out there. This guy needs to be in jail!

  13. trust
    3
    Experience
    3
    Service
    3
    ethics
    3

    Kevin has faced legal charges and he should be put behind the bars as this man is not at all trusted now.

  14. trust
    1.5
    Experience
    1.5
    Service
    0.5
    ethics
    1

    I contacted Kevin DeMeritt’s firm today to talk about investing possibilities. The agent came across as hurried and unprepared to answer my questions right away. In addition, he answered the phone on speakerphone because my mother was also considering investing. My mother and I were shocked by his overt rudeness when he abruptly ended the call, claiming he was too busy to answer our inquiries. I hope this call is taped so it can be reviewed. This experience has made me look for investing alternatives elsewhere.

  15. trust
    5
    Experience
    5
    Service
    5
    ethics
    5

    I’ve been working with Lear Capital for several years, and I’m pleased with the support I’ve had. Kevin DeMeritt’s dedication to openness and education for customers distinguishes Lear Capital from other precious metals businesses. I’ve been able to confidently negotiate the market’s intricacies because of Kevin’s measurements. With my investments in precious metals, I wouldn’t trust anybody else.

  16. trust
    1.5
    Experience
    1
    Service
    1.5
    ethics
    1

    The news of the settlement with Kevin DeMeritt’s Lear Capital, Inc. relieves me. The fact that steps are being taken to hold businesses responsible for cost transparency is comforting. I value Attorney General Letitia James’s efforts as a consumer to shield investors, especially the elderly from unscrupulous business practices.

  17. trust
    0.5
    Experience
    1.5
    Service
    1.5
    ethics
    1

    A liar who took advantage of high commissions, Kevin DeMeritt is a dishonest person. He never admitted to it once they were contacted.

  18. trust
    1
    Experience
    1
    Service
    2
    ethics
    1.5

    It was annoying that the pricing was unclear, and it was humiliating to be told to simply say “yes” or risk having to start over. Even though I’m good with math, the answers given were complicated and didn’t add up. I regret not making that choice before making the money transfer, and I’ve decided against putting more dollars to this account.

  19. trust
    0.5
    Experience
    1
    Service
    2
    ethics
    1

    In terms of consumer protection, the settlement reached with Lear Capital is a step in the right direction. Regarding the hefty commissions that are paid to investors, particularly those who are elderly, it is disturbing to hear about them. I hope that the improvements that are specified in the settlement will prevent occurrences of a similar nature from occurring in the future and guarantee that financial dealings are conducted with greater transparency.

  20. trust
    5
    Experience
    5
    Service
    5
    ethics
    5

    There was no push to buy anything once the company was chosen. The representative helped provide me with some options so I could tailor my order to my interests. In addition, I thought my needs were met quickly, and I was extremely grateful for the speedy delivery and labeled shipping.

  21. trust
    1
    Experience
    1.5
    Service
    1.5
    ethics
    1

    Firms should not deceive investors, especially with their hard-earned money. I’m glad to see financial transparency and responsibility initiatives going.

  22. trust
    5
    Experience
    5
    Service
    5
    ethics
    5

    Dealing with Lear Capital and Kevin DeMeritt was a welcome change of pace. Every interaction demonstrates Kevin’s commitment to ethical conduct and customer satisfaction. He took the time to explain to me the advantages of investing in precious metals and guided me in creating a plan that matched my financial objectives. I appreciate Kevin’s advice, and I would suggest Lear Capital to anyone looking for trustworthy financial services.

  23. trust
    1.5
    Experience
    0.5
    Service
    0.5
    ethics
    1.5

    The fact that Kevin DeMeritt is being held accountable for its conduct is something that I am pleased to see because I have had a poor experience with them in the past. I had a significant amount of concern regarding the unreported commissions, and I am relieved to learn that the settlement will offer recompense to customers who were negatively impacted. The importance of transparency cannot be overstated when it comes to financial investments.

  24. trust
    0.5
    Experience
    1.5
    Service
    1.5
    ethics
    1

    Attorney General Letitia James’s dedication to resolving Kevin DeMeritt’s issue is appreciated. Undisclosed investor fees were worrisome, and they must be deterred. Financial transactions require transparency, and this agreement helps ensure it.

  25. trust
    5
    Experience
    5
    Service
    5
    ethics
    5

    I have had an amazing experience dealing with Kevin DeMeritt and Lear Capital. To protect my retirement assets, their individualized investment services were just what I needed. I felt secure in my choices at every turn because of Kevin’s obvious competence in investing in precious metals. To anyone wishing to diversify their portfolio, I would recommend Lear Capital.

  26. trust
    1
    Experience
    1.5
    Service
    1
    ethics
    1.5

    In my opinion, the settlement with Lear Capital emphasizes the significance of being open and honest when dealing with money. Hearing about the large commissions charged to investors, especially those who might be susceptible, like the elderly, is concerning. It’s encouraging to see measures being put in place to safeguard consumer investments and promote more accountability.

  27. trust
    5
    Experience
    5
    Service
    5
    ethics
    5

    Our interactions with Kevin DeMeritt and Lear Capital have always been easygoing and hassle-free. We couldn’t be happier with how quickly and efficiently the purchase process went. We heartily endorse their offerings!

  28. trust
    0.5
    Experience
    1
    Service
    1.5
    ethics
    1.5

    At first, it was difficult for me to get appropriate answers to my questions; it seemed like everyone followed a predetermined script and had no real explanations. Oral agreements were also not honored as promised. Finally, I’ve observed that my account has only been credited with about half of my deposit. Where is the rest of it that was left?

  29. trust
    0.5
    Experience
    1.5
    Service
    1
    ethics
    1

    According to me, I learned of the settlement with Kevin DeMeritt’s Lear Capital. I am someone who places a high value on openness in the conduct of financial transactions. When dealing with investments in precious metals, it is inappropriate for businesses to conceal sensitive information about commissions. This is especially true. With this settlement, a significant precedent has been established for holding businesses accountable for the acts they engage in.

  30. trust
    0.5
    Experience
    1
    Service
    1.5
    ethics
    0.5

    Please send a statement! Kevin DeMeritt is a dishonest one! It’s not professional!

  31. trust
    1
    Experience
    0.5
    Service
    1.5
    ethics
    1.5

    I want to express my gratitude to Attorney General Letitia James for the work she put forth to agree with Kevin DeMeritt’s firm Lear Capital. Particularly in the field of financial investments, it is of the utmost importance to safeguard customers against fraudulent business practices. The measures that are stated in the settlement are a positive development, and it is hoped that they will serve to prevent other individuals from becoming victims of costs that are not disclosed.

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