This looks like it could be a norm for some of the up and coming
TPG's and they may even sit up in the front phew of the church.
Two charged in $5 million coin scam [Miami,FL]
MIAMI - A couple who advertised in Christian magazines has been charged with running a $5 million fraud by selling gold coins at two to three times their actual value, federal prosecutors said Wednesday.
Customers claim the coins were actually worth as little as 10 percent of the sales price.
The $5 million figure was tied to charges in a 38-count mail and wire fraud and money-laundering indictment, but Assistant U.S. Attorney Richard Boscovich said in court that the coin scam pitched by a self-proclaimed born-again Christian may have cost investors $10 million since 2000.
The Miami couple lived the lifestyle of millionaires as complaints mounted against them in the operations of
U.S. Coin Exchange Inc., Coin and Currency Clearing Corp. and Twenty-First Century Grading Service Inc.Bail was set at $1 million for Armand DeAngelis, who has a New Jersey securities-fraud conviction on his record, and $200,000 for his wife, Marcela Ospina Cardona.
Posted 12/30/2006 11:40 am
