News: "Melbourne, FL Coin Dealer Arrested For Fraud Related Crimes"
Goldbully
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Don't you just love a criminal coin dealer???
Melbourne Coin Dealer Arrested By BCSO Economic Crimes Task Force For Fraud Related Crimes
By Space Coast Daily
The Brevard County Sheriff’s Office Economic Crimes Task Force has culminated an investigation
into the allegations of fraud with the arrest of a Melbourne coin dealer. (BCSO Image)
BREVARD COUNTY, FLORIDA – The Brevard County Sheriff’s Office Economic Crimes Task Force has culminated an investigation into the allegations of fraud with the arrest of a Melbourne coin dealer.
Agents arrested 63-year-old, John Wenzel Kane of 1807 Woodbury Circle, Melbourne; the owner of Coins and Curiosities, earlier today after an arrest warrant was issued by a judge charging him with Racketeering, Scheme to Defraud over $50,000, Communications Fraud over $50,000, Depositing a check with the intent to Defraud (12 counts), Grand Theft over $300.00 (14 counts) Grand Theft of a person over 65 (2 counts) and Worthless Checks (2 counts).
Kane was transported to the Brevard County Jail Complex on $112,000 Bond.
BCSO says the investigation was initiated in 2016 after the Melbourne Police Department was contacted by victims who alleged that they had been defrauded out of money and/or collectable coins by Kane.
“The investigation was forwarded to the Economic Crimes Task Force in early 2017 and revealed that Kane was defrauding the victims in two ways:
Victims would order either gold or silver coins as an investment opportunity from Kane through his business. Kane would collect the full amount for the coin order, up front from the victim and then fail to deliver the coins.
The second type of scheme reported by the victims, involved victims giving Kane gold and silver coin collections to sell for them on consignment. Kane would resell the collection and not provide payment or return the collection to the victims,” said Tod Goodyear of the Brevard County Sheriff’s Office.
BCSO found that some victims did receive partial payment from Kane after many months and due to the threat of legal action.
Authorities determined that Kane was using new victim’s monies to provide these partial payments to previous victims as well as using the money for personal financial purposes.
The investigation has revealed that over a three-year period covering 2013-2016, Kane defrauded fifteen victims either temporarily or permanently out of approximately $291,000.
The Brevard County Sheriff’s Office Economic Crimes Task Force is comprised of investigators from the Sheriff’s Office, Titusville Police Department, Melbourne Police Department, Cocoa Police Department and a dedicated attorney from the State Attorney’s Office.
If you believe you may have been victimized by Kane or have information about this investigation, please call Sergeant Jackie Hearon of the Brevard County Sheriff’s Office Economic Crimes Task Force at 321-633-8410 or CRIMELINE at 1-800-423-TIPS (8477). All calls to CRIMELINE are confidential and callers can remain anonymous and be eligible for a reward.
Comments
you could almost arrest the entire state of florida for fraud ,
Maybe bronco boy could be arrested for ignorance and arrogance....but I guess those aren't real crimes, just annoying and trollish.
Nothing fancy, just good ol'fashioned fraud/theft.
Easy enter easy exit "profession". Most of the "coin dealers" like this are just in it for their next buck, pawn shops and jewelry buyers may or may not be honest but short term gain and fraud lead to increasingly rocky seas. Pretty high bar in FL to be nailed for ripping people off, though the elderly and retired folk want law enforcement to do their jobs. Different story in CT. Heck, Walmart refused to refund or replace sneakers I bought there when they fell apart after a couple weeks, and I contacted the state AG and got the refund and a gift card.
Very sad as I know the man. Have to wait how this plays out.
Sounds like the familiar story we've heard here before: guy gets over his head, robs Peter to pay Paul, lies and stalls to put people off, and eventually gets exposed with large obligations and no assets.
Here's a warning parable for coin collectors...
Wow, that must be unsettling.
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Great news.... I love to see scumbags go down... preferably go down hard.... saves taxpayers dollars. However, our system does not allow that in most cases, so we have to settle for prison sentences - you know, incarceration with appeals, three meals a day, exercise facilities, libraries, internet access, conjugal visits etc..
Better treatment than Vets or many seniors. Cheers, RickO
It would be interesting to see the actual documentation they had, as opposed to
"Hey John, I have dealt with you for years, can you take some coins on consignment and sell for me?
"Sure, I will let you know when I have sold them, but it probably will be quick, within a couple weeks as you have some really nice coins there."
Handshake and leaves.
That would be REALLY tough to document and prosecute.
RickO,
you hit the nail on the head! sad..
why is it so?
perhaps guilty dealers are guilty and shut up to mitigate their wrong doing, say nothing, and victims are to embarrassed to speak up?
It makes you wonder how someone could think that they could get away with this for years without skipping town. The face looks familiar.
https://forums.collectors.com/discussion/512049/coin-dealer-convicted-of-ebay-fraud/p1
The last time I recall a Florida coin dealer making the news. This was in 2006 and earned a 63 month sentence.
I've been scammed twice by dealers out of Florida....both via auctions/mail bid sales....bait and switch or non-delivery. Once for $900 in 1974 and $2000 in 1984.
I've seen this scenario unfold many times. Every time, the dealer thought he could dig his way out of the hole. The point is that they're not thinking like criminals, and they do really want everyone to get paid. F-ups? You bet! Miscreants? Not really.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
RIP Cammy - we taught Intro to Grading together at Summer Seminar