Congress formally launched an investigation this week into Goldline Intenational, the Glenn Beck sponsor accused of marking up gold prices as part of its business practices.

“Rep. Anthony Weiner (D - Queens & Brooklyn) and House Commerce Subcommittee Chairman Bobby Rush (D - Chicago) formally announced a hearing of the Subcommittee on Commerce, Trade, and Consumer Protection to investigate the business practices of Goldline International, a precious metals dealer that uses aggressive sales tactics and conservative spokespeople such as Fox News' Glenn Beck to sell overpriced gold coins. Weiner and Rush sent a letter to Goldline requesting information in preparation for the hearing,” Weiner's office said in an announcement this week. “The announcement follows an exposé on ABC News which detailed Goldline's business model. Additionally, the Santa Monica City Attorney's office launched a joint investigation with the Los Angeles County District Attorney's office into the possible criminal practices of Goldline International."

Weiner's announcement cited several findings in his own review of the company, among them: “The average Goldline markup was 90% above the melt value of the coin. The largest markup on any coin was 208% above the melt value. Furthermore, the average Goldline markup is 47% higher than better-priced competitors, with some of the company's markups going as high as 102% compared to its competitors on one of the coins they offered.”