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<p>[QUOTE=&quot;Hobo, post: 648610, member: 11521&quot;]I&#039;ve been watching this story develop over the last few days. </p><p>&nbsp;</p><p>National Gold Exchange (&quot;The World&#039;s Largest Rare Foreign And United States Gold Coin And Silver Currency Wholesaler&quot; according to their <a href="http://www.ngegold.com" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.ngegold.com" rel="nofollow">website</a>) in Tampa, FL has filed for Chapter 11 bankruptcy protection. (Chapter 11 bankruptcy allows a debtor to reorganize.) The trouble started when the owner reportedly sold $15 million of coins that were pledged as collateral to secure a $35 million loan. He reportedly used the $15 million to build a $25 million 28,893 square foot mansion. He then reportedly cooked the books to try to hide his misdeed. He was done in by the lawyer for a former business partner in a business deal gone bad. </p><p>&nbsp;</p><p><a href="http://www.bizjournals.com/tampabay/stories/2009/07/27/daily13.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.bizjournals.com/tampabay/stories/2009/07/27/daily13.html" rel="nofollow">National Gold Exchange seeks court protection</a></p><p>&nbsp;</p><p><br /></p><p>&nbsp;</p><p><a href="http://www.istockanalyst.com/article/viewiStockNews/articleid/3371830#" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.istockanalyst.com/article/viewiStockNews/articleid/3371830#" rel="nofollow">Major Gold Dealer in Hot Water With Bank Over $25 Million Tampa Home</a>[/QUOTE]</p><p><br /></p>

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