Thread: Martinez man admits to embezzling rare coins from Colorado museum

Martinez man admits to embezzling rare coins from Colorado museum

WILMINGTON, Del.
Federal prosecutors say a California man has pleaded guilty to stealing nearly $1 million worth of rare coins from a Colorado museum.
Thirty-three-year-old Wyatt Yeager of Martinez pleaded guilty to theft of major artwork.
According to the felony complaint, Yeager was collections manager at the American Numismatic Association Money Museum in Colorado Springs. In 2007, Yeager embezzled rare coins and sold them at auctions in the U.S. and abroad

http://www.mercurynews.com/breaking-...i_19729557.htm

I live very close to Martinez, California, previously known as the birthplace of baseball player Joe DiMaggio.

Originally Posted by willieboyd2

I live very close to Martinez, California, previously known as the birthplace of baseball player Joe DiMaggio.

If it was previously known as that, what's it known as now?

I live very close to the ANA Money Museum (about 6 miles) and that is the first I have heard of this theft.

They kept it under wraps until he was charged. I sincerely hope they throw the book at him.... maybe a couple of books.

I got an email about half an hour ago from the ANA about it. Looks like the dude skipped the country after being employed there just 3 months, and has been selling off rarities he stole ever since.

Correction: I got the email 3:27 Central, so 2:37 mountain time they sent it to me.

Here is a local report:

Guilty Plea In $1 Million Theft Of Historical Coins

. . . The ANA’s Edward C. Rochette Money Museum, which is located at 818 North Cascade Avenue, says the coins and other items were stolen between January and March 2007. During that time, Yeager was a collections manager for the museum.

The theft was discovered in October of that year, and the FBI investigated confidentially. During that investigation, Yeager moved to Ireland and allegedly sold many of the rare coins through an auction house in Germany.

A complete list of the stolen items can be found on the ANA's website, Money.org. A link to the U.S. Department of Justice press release and indictment will be available on the site. The total value of the coins is estimated at $984,740.

. . .

So could the coins that he sold to unsuspecting buyers be confiscated as stolen property and returned to their rightful owner (the ANA)?

Originally Posted by Hobo

So could the coins that he sold to unsuspecting buyers be confiscated as stolen property and returned to their rightful owner (the ANA)?

I would think so as they weren't his to sell. So that would invalidate the sale.

The accused has quite an impressive resume:

http://investorshub.advfn.com/boards...ge_id=35436849

A BA in Anthropology/Archaeology from San Francisco State University
A degree (Masters?) in Museum Science from the University of Leicester (England)
A PhD in Nautical Archaeology

He is (was) a "maritime conservator and archaeologist specializing in the field of terrestrial and maritime artefact stabilization."

What a waste.

Originally Posted by Hobo

So could the coins that he sold to unsuspecting buyers be confiscated as stolen property and returned to their rightful owner (the ANA)?

Yes, anyone who purchased one of these coins can have them seized and returned to the ANA any time in the future. This is a huge advantage of going through a dealer for a purchase, this risk is borne by the dealer who sold you the piece. If he sold it to a dealer, then Hobo bought it, then if it gets seized from Hobo, Hobo has the right to seek compensation from the dealer who sold it to him.

Just using your name to illustrate Hobo.

Btw, creepy avatar. What the heck is that man?

Originally Posted by medoraman

Just using your name to illustrate Hobo.

Yeah, I just wanted to point out that the ANA will not be the only victim of this criminal.

Originally Posted by medoraman

Btw, creepy avatar. What the heck is that man?

A zombie from 'The Walking Dead' on AMC. (I just finished watchin Season 1 on DVD. It was pretty good. Plus it was shot near my old stomping grounds around Atlanta.)

How did he think THESE coins would not be missed?

http://www.money.org/AM/Template.cfm...ontentID=16769

Among the stolen items are an Australian 1813 Holey Dollar, a 1795 Half Eagle and an 1836 Gobrecht Dollar.

Originally Posted by LostDutchman

They kept it under wraps until he was charged. I sincerely hope they throw the book at him.... maybe a couple of books.

Just throw the whole bookcase at him

I just hope that if they do seize the rare coins that he sold they compensate the buyers. It would be really bad for the buyer to lose out on both coin and money.

A little off topic but Hobo:
The Walking Dead show is coming out really good. Do you follow the comic series?

Originally Posted by icerain

I just hope that if they do seize the rare coins that he sold they compensate the buyers. It would be really bad for the buyer to lose out on both coin and money.

Who is "they"?

Originally Posted by icerain

A little off topic but Hobo:
The Walking Dead show is coming out really good. Do you follow the comic series?

No. I had never heard of 'The Walking Dead' until someone recommended the show to me. I got Season 1 on DVD from my library. I learned about the comic when I watched some of the extra features.