The Rotted Core of the Golden Cord

Merchants all over Plavithen recognize the dignified insignia of the Golden Cord. The world's most prestigious merchant's guild provides secure banking, vets merchants large and small for honesty, and enjoys an absolutely sterling reputation for being a force that keeps business honest for all parties.
So when people spread rumors about secret cabals of the worst sorts of excess among its leadership, they are typically laughed out of the room.

Summary

Conspiracy theories about The Golden Cord posit that there is a cabal of secret leadership of the organization that is engaged in a host of dirty business practices. Common accusations include trading with the Vanorax, selling alchemical goods obtained in evil ways, and engaging in various forms of fraud.
Most listeners do not give these claims much credence; The Golden Cord has been providing a sort of impartial arbitration in commercial matters for centuries, and buyers and sellers alike take a Golden Cord crest as a reliable assurance that a merchant is honest and their goods are trustworthy. Their banking services are also considered to be above reproach. Their vaults are guarded by a famously-honest and noble order of paladins, trained specifically for the purpose. Most people look upon the organization with deep respect.

Historical Basis

The sad truth, however, is that those who believe the rumors and conspiracy theories are wrong only by degrees, and in the opposite direction one would hope; the Golden Cord is, in fact, far worse than even the most dedicated naysayers insist it is.
The rot at the center of The Golden Cord is not simple mortal failings and avarice, it is a literal infernal greed cult with significant backing from Hell itself. The Golden Cord exists to draw the wealthy and powerful into the service of Hell through gradual corruption and increasing personal incentives and gain.