Dealer convicted--identity theft and taxes

It's that time again this year. https://www.justice.gov/usao-nj/pr/...-jersey-coin-dealer-admits-income-tax-evasion

 

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This is the same guy who attempted to sue Collectors Universe a couple years back, and got his hand slapped by the judge (suit dismissed with prejudice). Think he's regretting that lawsuit now?

 

What did be buy up to remove supply what coins?
And he didn't get hit with stealing ppls identifies to create credit cards ?

 

"using other people’s identities to open credit cards to purchase bulk quantities coins from the U.S. Mint in order to corner the market. Dominick then sold those coins through his business, retained the proceeds for his personal use". Guess he just bought up a lot of random coins?

 

The government is represented by Assistant U.S. Attorney Shana Chen of the Economic Crimes Unit in Newark.

Defense counsel: John Whipple Esq., Morristown, New Jersey

Good old Mr. Whipple!

 

The Mint grinds out such quantities, it seems impossible that anyone anywhere could hope to "corner the market" nowadays.

I'd like to know if any 2016 issues, such as the gold Mercury Dimes, Standing Liberty Quarters, or Walking Liberty Half Dollars remain unsold, now that the hype has subsided.

 

The gold standing liberty is still available ==> https://catalog.usmint.gov/standing-liberty-2016-centennial-gold-coin-16XC.html

so is the walking liberty => https://catalog.usmint.gov/walking-...l?cgid=null&q=walking liberty&navid=vizsearch

the mercury sold out fast, and the resell sold out fast too.

 

When are they going to auction off the seized assets?

 

Charming fellow. It amazes me that people think they will get away with schemes like this. He is probably amazed that he didn't.

 

For Clawcoins and others: at $460 (from the Mint), the gold quarter has a premium of 46.4% over spot.

$460 x 4 = $1840; spot is $1257; 1840/1257 = 1.4638 (46.38% over spot). Didn't calculate the half dollar's premium.

Maybe for numismatists, never for stackers. $5 commems in the secondary market is the way to go, IMHO.

 

Why didn't he just go ahead and commit car theft, a rape and a murder in there so it sounds more complete?

 

...if you're gonna be a bear...(be a grizzly?)

 

Some criminals are not cut out for violent crime -- somebody might resist them.

 

The stuff he did is bad enough. Financial crimes and tax evasion need to be taken as seriously as violent crimes. Until they are, they will continue.

 

I agree, but apparently identity theft isn't such a big deal these days and is, depending on the nationality of the criminal, worthy of praise. Go figure.

 

If he had gross income of $400K in the year cited, with all expenses and deductions that could be small, any more than a day trader who does a gross of a million a year is going to owe much with the law of averages. So I have never understood that. Some years can be lucrative like 2009-2012 other years are the doldrums. But obviously the government wants to dramatize it as much as possible if they are sending someone to prison. The guy got cleaned out by crooks en route in FL: http://articles.orlandosentinel.com...HEFT20_1_coin-dealer-coin-show-silver-dollars

Maybe he was trying to play catch up.

 

What goes around comes around. Maybe some justice here?

 

From what I heard in pms. A lot of people don't want to go public, he has a habit to sue.

 

Doubt they will since it's was investigated by the Economic Crimes Unit, IRS and FBI. Mostly likely I think the coins will be turned back over to the mint.