ANA News: Wyatt Yeager Sentenced to 27 months in ANA Museum Theft
tightbudget
Posts: 7,299 ✭✭✭
At first, I read the title as "27 years" and thought "Wow, they really threw the book at this guy." But I suppose 27 months should be long enough for him to think about his crime. (Edited to make easier to read, thanks Coinlearner)
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COLORADO SPRINGS, CO – Former ANA collections manager Wyatt Yeager, 33, has been sentenced to 27 months in federal prison, two years supervised release and ordered to pay $948,505 in restitution for the theft of approximately 300 historically significant coins and objects from the American Numismatic Association Money Museum in Colorado Springs, CO.
The sentence was imposed today in Federal District Court in Wilmington, DE. Judge Leonard P. Stark imposed the sentence based on Yeager’s guilty plea in January to one count of Theft of Major Artwork, a violation of Title 18, United States, Section 668.
“The harm caused by this theft transcends monetary loss – it was a terrible loss for the association and for collectors everywhere. The ANA’s collection provides a window into the history of society, culture and economics from the ancient world to the present day. Because of Mr. Yeager’s actions, significant cultural items will not be available to museum visitors, researchers and other interested groups,” ANA President Tom Hallenbeck said. “We are glad to see justice was served. Now that this case is behind us, the ANA can focus on its educational mission.”
Yeager embezzled more than $492,205 in rare coins from the ANA’s Money Museum and sold these items in auctions in Baltimore in May 2007, St. Louis in June 2007 and Melbourne, Australia, in July 2007. One of the coins in the Australian sale was the rare Australian 1813 Holey Dollar, which sold for $155,755.
Yeager embezzled an additional $492,535 in rare coins and sold them in an auction in Germany.
Yeager was the museum’s collections manager from January through March 2007. The theft was discovered by museum officials in October 2007 and was the subject of an extensive FBI investigation after museum staff confirmed the missing items.
“These charges are the result of the joint efforts of this office and Special Agent Thomas K. Vest, of the FBI Colorado Springs Resident Agency, Denver Division,” said Charles M. Oberly III, United States Attorney for the District of Delaware. “The embezzlement of such a large number of rare coins is a serious crime. Aggravating the seriousness of the offense is the fact that the coins are cultural property, a part of our history.”
“The FBI will continue to pursue those who misappropriate rare items, such as the coins embezzled by Yeager, and appreciate the District of Delaware’s commitment to prosecuting this significant crime,” said James F. Yacone, FBI Special Agent in charge of the Denver, Colo., Division.
The ANA retained Robert Wittman, Inc., a security and recovery consulting firm that specializes in recovering stolen art and collectibles, to investigate and recover the stolen coins. The company can be contacted at 610-361-8929.
This case was prosecuted by David L. Hall, Assistant United States Attorney. Hall has an extensive history of handling crimes involving art and cultural property. For more information on the case, contact Oberly or Hall at 302-573-6277.
A list of stolen items and other information on the theft can be found at www.money.org, by clicking on “Communications” and selecting “Museum Theft.”
The American Numismatic Association is a congressionally chartered nonprofit educational organization dedicated to encouraging people to study and collect money and related items. The ANA helps its 28,000 members and the public discover and explore the world of money through its vast array of education and outreach programs, as well as its museum, library, publications, conventions and seminars. For more information, call 719-632-2646 or go to www.money.org.
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COLORADO SPRINGS, CO – Former ANA collections manager Wyatt Yeager, 33, has been sentenced to 27 months in federal prison, two years supervised release and ordered to pay $948,505 in restitution for the theft of approximately 300 historically significant coins and objects from the American Numismatic Association Money Museum in Colorado Springs, CO.
The sentence was imposed today in Federal District Court in Wilmington, DE. Judge Leonard P. Stark imposed the sentence based on Yeager’s guilty plea in January to one count of Theft of Major Artwork, a violation of Title 18, United States, Section 668.
“The harm caused by this theft transcends monetary loss – it was a terrible loss for the association and for collectors everywhere. The ANA’s collection provides a window into the history of society, culture and economics from the ancient world to the present day. Because of Mr. Yeager’s actions, significant cultural items will not be available to museum visitors, researchers and other interested groups,” ANA President Tom Hallenbeck said. “We are glad to see justice was served. Now that this case is behind us, the ANA can focus on its educational mission.”
Yeager embezzled more than $492,205 in rare coins from the ANA’s Money Museum and sold these items in auctions in Baltimore in May 2007, St. Louis in June 2007 and Melbourne, Australia, in July 2007. One of the coins in the Australian sale was the rare Australian 1813 Holey Dollar, which sold for $155,755.
Yeager embezzled an additional $492,535 in rare coins and sold them in an auction in Germany.
Yeager was the museum’s collections manager from January through March 2007. The theft was discovered by museum officials in October 2007 and was the subject of an extensive FBI investigation after museum staff confirmed the missing items.
“These charges are the result of the joint efforts of this office and Special Agent Thomas K. Vest, of the FBI Colorado Springs Resident Agency, Denver Division,” said Charles M. Oberly III, United States Attorney for the District of Delaware. “The embezzlement of such a large number of rare coins is a serious crime. Aggravating the seriousness of the offense is the fact that the coins are cultural property, a part of our history.”
“The FBI will continue to pursue those who misappropriate rare items, such as the coins embezzled by Yeager, and appreciate the District of Delaware’s commitment to prosecuting this significant crime,” said James F. Yacone, FBI Special Agent in charge of the Denver, Colo., Division.
The ANA retained Robert Wittman, Inc., a security and recovery consulting firm that specializes in recovering stolen art and collectibles, to investigate and recover the stolen coins. The company can be contacted at 610-361-8929.
This case was prosecuted by David L. Hall, Assistant United States Attorney. Hall has an extensive history of handling crimes involving art and cultural property. For more information on the case, contact Oberly or Hall at 302-573-6277.
A list of stolen items and other information on the theft can be found at www.money.org, by clicking on “Communications” and selecting “Museum Theft.”
The American Numismatic Association is a congressionally chartered nonprofit educational organization dedicated to encouraging people to study and collect money and related items. The ANA helps its 28,000 members and the public discover and explore the world of money through its vast array of education and outreach programs, as well as its museum, library, publications, conventions and seminars. For more information, call 719-632-2646 or go to www.money.org.
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Comments
<< <i>
This case was prosecuted by David L. Hall, Assistant United States Attorney. Hall has an extensive history of handling crimes involving art and cultural property.
>>
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I hope the courts can get restitution...or will it be one of those 'good luck" type of scenarios?
The ANA sure has had some tough luck, huh?
"Keep your malarkey filter in good operating order" -Walter Breen
Tom
<< <i>Seems a minor sentence for the monetary value of the crime. He will be out in twelve months or so. Cheers, RickO >>
What a joke, weak punishments will only cause crime to increase.
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
<< <i>Seems a minor sentence for the monetary value of the crime. He will be out in twelve months or so. Cheers, RickO >>
It's not just the monetary value of the crime but the fact that he was in a postion of trust as an employee of the ANA.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
TRUTH
<< <i>Seems a minor sentence for the monetary value of the crime. He will be out in twelve months or so. Cheers, RickO >>
He was prosecuted in federal court. There is no parole in federal cases.
Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
<< <i>
<< <i>Seems a minor sentence for the monetary value of the crime. He will be out in twelve months or so. Cheers, RickO >>
He was prosecuted in federal court. There is no parole in federal cases. >>
This is my understanding as well. The 27 month term is net and must be completed. He can serve longer if he messes up in prison. MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>Extensive damage in just a few short months. How does the vetting process work, in order to get a job at the ANA ? >>
He probably had a clean record before they hired him.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
<< <i>Extensive damage in just a few short months. How does the vetting process work, in order to get a job at the ANA ? >>
He probably had a clean record before they hired him. >>
So it only took 3 months after 33 years to "go rotten'' ? There had to be some indications. A battery of tests would indicate whether an honest person is "stable". ... or rather; whether a person is dishonest.
<< <i>
<< <i>
<< <i>Extensive damage in just a few short months. How does the vetting process work, in order to get a job at the ANA ? >>
He probably had a clean record before they hired him. >>
So it only took 3 months after 33 years to "go rotten'' ? There had to be some indications. A battery of tests would indicate whether an honest person is "stable". ... or rather; whether a person is dishonest. >>
Maybe a dishonest person would lie on the battery of tests.
BTW He did not learn his lesson in prison but died before he got a return trip
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
<< <i>
Maybe a dishonest person would lie on the battery of tests. >>
I went through a test that tested my honesty once. It also won me custody of my children in the divorce. A dishonest person did not pass that test.
How many of the stolen items have been recovered?
Given the cost of incarceration, I'd rather save prison space for violent criminals....Instead let's put this clown to work somewhere doing some useful manual labor to benefit others.
<< <i>I thought this would turn into so who has some of the ANA's coins! I scanned the list and was relieved I didn't see anything I own. So who here...(I'm sure some own some of the coins with as much was stolen)... will voluntarily tell the ANA they now own 1 of their coins! Curious to see what happens with this as the ANA is entitled to the return of their collection. There are way too many coins with indisputable charactoristics,pedigree,and rarity! >>
Amen ! This will be the ultimate test.
<< <i>How many of the stolen items have been recovered? >>
Go to the ANA's websight and look under communications. Follow the links for museum theft and it seems they are keeping track of the status. I will be watching to see if they recover anything!
<< <i>
<< <i>
Maybe a dishonest person would lie on the battery of tests. >>
I went through a test that tested my honesty once. It also won me custody of my children in the divorce. A dishonest person did not pass that test. >>
It could have been a coin toss and you'd have had even odds to win.
<< <i>Seems a minor sentence for the monetary value of the crime. He will be out in twelve months or so. Cheers, RickO >>
Yes but he's still obligated to repay the ANA $948,505 which is ginna hurt.
How and why he did this is beyond my reasoning.
How the ANA let it occur is also beyond my reasoning since if you've got inventory items that are valued at over $100,000 each, you'd think they'd do a regular inventory instead of "discovering" this stuff after the fact and AFTER the items were sold at auction.
The name is LEE!
<< <i>
<< <i>
This case was prosecuted by David L. Hall, Assistant United States Attorney. Hall has an extensive history of handling crimes involving art and cultural property.
>>
Poetic justice!
Have to wonder if he paid his taxes on the profits????
<< <i>Wish I made a million every three years.....or make that two years and three months.
Have to wonder if he paid his taxes on the profits????
Taxes, hmmm...He definitely doesn't want the IRS on his tail. Sounds like an option to encourage his repayment.
If he didn't claim the income, he could be in for a world of hurt.
From wikipedia.
"Under U.S. federal law, prisoners serving more than one year in prison get 54 days a year of good time for every year they serve.[1] Thus, a prisoner who is sentenced to 419 days (365 + 54 days) in prison will only serve about 365 days. Thus, prisoners who demonstrate good behavior only serve about 87.1% of their total sentences. Some prisoners have argued that prisoners should only serve about 85.2% of their sentences, because (365 - 54) ÷ 365 ≈ 85.2%, but the statute empowers the Bureau of Prisons to make the calculation, and the Bureau has determined that the 87.1% rate is to be used. The U.S. Supreme Court has upheld this rate as valid.[2] Good time is calculated after sentencing by the Designation and Sentence Computation Center. Rumors constantly circulate within federal prisons that a Good Time Bill will be passed increasing the amount of good time granted to prisoners, and indeed such bills are sometimes introduced.[3]"
TRUTH
There will be disclosure as stolen items are recovered -- anyone in possession of stolen goods must return them, even if they did not realize they were stolen. We will be working to recover the stolen material, to the best of our ability.
Thanks,
Greg
I can confirm the ANA did receive a $750,000 insurance settlement in 2007 or 2008, related to the Wyatt Yeager theft. That money was placed into a dedicated fund for the ANA museum and have not been spent thus far.
Additionally, the ANA has been granted a significant partial portion of the restitution amount, from the amount Wyatt Yeager had to put up as bond with the court. Details on that will be sent out once the ANA receives it, which should be in the near future.
My understanding is that Federal courts require 85% of time served, so he should not be released before 23 months have elapsed.
Finally, I will assure you that additional security measures -- both policy-based and system-based -- have been instituted since this theft took place. The ANA Board will be looking at the possibility of a museum security audit during the Denver convention in May.
Please feel free to contact me if you have any additional questions or concerns.
Thanks,
Greg
<< <i>Should have been 27 years! >>
Unfortunately, we didn't have much control over that. The sentence was on the lower end of the guidelines, but considering it did not have to be taken to trial... it did eliminate some doubt about the outcome.
Greg
I specialize in Errors, Minting, Counterfeit Detection & Grading.
Computer-aided grading, counterfeit detection, recognition and imaging.
Instead let him off with a stern warning and this...