Tommy Thompson in the spotlight again
coindeuce
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coindeuce
Posts: 13,473 ✭✭✭✭✭
coindeuce
Posts: 13,473 ✭✭✭✭✭
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wow, hes been in contempt since last december. thats his call (fwiw)
At first I thought of the former Wisconsin governor. Too bad it's not him.
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Thompson's problem came to a head when the details of his deal to the dealer group that bought the hoard came to light and it didn't match what he told the investors backing him.
There is lots of issues here... and I think...just conjecture mind you...that he may be spending time as a guest of the government soon... Cheers, RickO
I believe he is already incarcerated. His fugitive status prior to December of 2015 guaranteed that he is a flight risk.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.americanlegacycoins.com
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Did anyone see the three part National Geographic special about him last night? Yes, he's still in jail and still refusing (or unable) to talk about the whereabouts of the 500 missing $50 restrike coins. He says that he doesn't remember but nobody is buying that.
This man is a brilliant scientist/engineer but not a good businessman. He overpromised the investors and could have received somewhat more for the coins by marketing them differently, at least in my opinion. $52 million wasn't enough for the group and it could have been sold over a period of many years considering how long the fight over the treasure lasted. Take advantage of that and slowly release the coins over a longer period of time.
It's unjust that the man who recovered this treasure should end up in jail and with nothing but this appears to be the result of being good at one thing but not another required for success.
He's now in his 70s. Why would he choose to sit in jail for the rest of his life?
The story is less about business and more about ethics.
Treasure discoveries often go sideways due to Greed.
(see Treasure of the Sierra Madre, starring Humphrey Bogart.)
30+ years coin shop experience (ret.) Coins, bullion, currency, scrap & interesting folks. Loved every minute!
What's the injustice?
It is on Hulu
possibly for the heirs?
Maybe he believes there is a better chance that he is released under the present circumstances than remembering and/or admitting or losing a case that he stole millions of dollars from his investors
@jmlanzaf I guess that you could look at it like he got what he deserved and I'd agree to some extent. But that achievement should have been better rewarded. Seems unjust to me.
His position was that his original contract with the investors provided for a salary of $250,000/yr and that he was owed for at least 10 years. The court said "no." He took the coins. That's why he's in jail.
For the heirs? Could be but no children were mentioned while his girlfriend was. And they don't seem to be budging on letting him out. He's been in for 8+ years.
I don't know. Maybe there's something else that we don't know here.
And a bunch of California gold is now in the numismatic marketplace forever.
When this recovery was first made, I was sure that this was the start of a new era of shipwreck salvage. And it has been, to some extent. But I thought that the discoveries and recoveries would come faster and more frequently. Salvage under 8000 feet of water is still very difficult despite the advances made by Thompson 35-40 years ago. Not to mention locating the wrecks, but there have been substantial advancements in sonar and other technology.
Poor Tommy. His life may have had a different turnout if he would have got to go fishin' as a child. IYKYK.
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…not to mention the enormous changes in maritime salvage legalities since the ‘finders keepers’
days of Mel Fisher.
Today, the workings of international law give the country of origin of a shipwreck a much better chance of successfully asserting ownership of the ship and its cargo.
Kinda sad, and truly IMHO unjust, that the swashbuckling days of recovering sunken treasures are mostly over.
30+ years coin shop experience (ret.) Coins, bullion, currency, scrap & interesting folks. Loved every minute!
Over 9 years for contempt of court is a bit excessive...how much a year to feed and house him?....they might have better luck letting him out and tailing him...looks like hes in for the long haul!
He's caught between the devil and the deep blue sea....Greed is a perennial pitfall when retrieving treasure from Davy Jones's locker!