Coin Shop Owner Gets 4 Years For Defrauding Customers

One of the advantages of hard assets is the elimination of 'excuses'. You're not buying anything but hope if all you're given in exchange for your money is a promise to deliver.

You'd think that most people buying precious metals would 'get' this, but I guess naive faith and a desire to trust people is a powerful thing. One thing that has always been a bit disturbing is the amount of total faith most people are willing to put into someone on the basis of nothing more than their having opened a storefront location and claiming to be a 'professional'. This is frighteningly common.

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ExoGuy... Restitution was brought up in the article and I agree with you.




I don't understand why some type of restitution wasn't sought in the plea deal too. Like you said he's going to serve his couple of years and be a free man. I understand the money is gone. The odds of him ever being able to come up with the full amount is slim but any income he earns after he's out of jail should be garnished and distributed to his victims.

I completely agree. If he underpaid his taxes by that amount, do you think the IRS would simply give a collective shrug and move on? Absolutely not. They'd be wringing the last penny from his corpse.

Happy Tax Day to my fellow Americans both here and abroad. Yep, you guys abroad better have filed too.

That sorta depends on whether a trust fund, and what kind of trust, that the inheritor had, if any. There are certain kinds of trusts, such as a special needs trust, in which any money or asset... inheritance, insurance settlement, etc. is directly deposited into and cannot be touched. So it depends. If the guy had no trust fund, or a trust that anybody can attach, great. This of course is assuming that the guy had a trust at all.

Also, if he had a trust, and it was the kind that could be touched, and he had been receiving some kind of aid, such as Medicaid, which has a "payback" provision, it will be a matter of standing in line and who has priority. My guess is that the government would, but I could be wrong. This is admittedly a rare and specific event and I only mention it because it is a possibility, altho a small one at best.

We need to return to the days of jail time meaning being breaking large rocks into smaller ones all day long. Prisoners need humane treatment, but making jail a place they REALLY hate to have to be seemed to work so well. That way the people ripped off feel a bit better that they, as the victims, are not suffering while the perp is just waiting in an air conditioned cell with free HBO waiting for 1/2 their time or less to be up so they can get out early and go rip off someone else afterward.

Looks like he transferred his larger assets already, knowing this was coming, they should go after them, but the way the governments all around the world are going lately theft/grifting and conning seems like the standard today, sadly.

I had some business with this dirtbag-the name Blue Moon looked familiar so I looked them up yep bought some items (lower dollar) through them. Thankfully that was all, I got what I paid for at least. I want to say they contacted me later trying to get me to send them coins for sale to them, which I ignored, but I can't find any old emails as I purged my inbox a few months ago to gain storage space.

Normally I would never send coins to anyone I didn't already know and have past dealings with anyways, so doubtful I would have even paid a second glance to the request for coins, probably just went into the trash at the time I saw it.

Hope that the people defrauded get some sort of reparations in the long run, but that's not looking good. A lesson to only deal with legitimate company you know well and has references in the industry.

Last guy that did that was good ol sheriff Joe. The jail was a tent city out in the middle of the desert, everyone wore pink clothes, no air conditioning, he did have to provide cable TV but he got to select the available channels (weather channel, I think Disney, and Christian network). No walls or fences either. Anyone could leave anytime they wanted. Of course the nearest city was about 40 miles away in some direction across the desert. Your chance of finding your way and surviving crossing the desert were not good. You got fed, white bread and cold cuts with water. Recidivism was extremely low because any one who got sent there did NOT want to risk getting sent there again.