Yaffe Sentenced ...,,,

I personally know several people who he ripped-off. It's rather a shame you weren't one of them!

 

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As a teen, I worked for several coin dealers. Many of them did things that I wouldn't. Nevertheless, they were important "wheels" in the machine in each city. They probably did everything he did (on a smaller scale) and then some because the business was less regulated. One of them finally lost his ANA membership for (?).

I don't know all Y. did ; but it got him jail time. I watch "Lockup" on TV so it isn't going to be summer camp. Anyway, I feel sorry for those he hurt and he deserves to pay for it. I also felt sorry that the people he worked with in the business turned on him (many without knowing the case transcript or what happened). I'll guarantee there are plenty more crooks out there so it's best to keep silent because one day it may be you.

 

Every time I read people defending one of these many ripoff creeps like Yaffe I'm reminded what's wrong with numismatics - the reflexive defense of anyone who wraps himself in the term "entrepreneur". That word is just one action removed from "convicted felon", and we need to be constantly aware of that. And I write as someone who spent over 25 years as an entrepreneur who constantly had to fight vendor, customer and partner alike to keep a reasonable ethical compass. Too many businesspeople are just looking for the fast buck ripoff.

 

Good for you. You need to be commended and brought up as a role model. Our hobby/business needs more of you!

Incidentally, I'm not defending his actions just the pile on. If I were in charge (I'm Middle Eastern), anyone who steals WOULD LOOSE AN ARM up to the elbow for the first offence + any "public/government benefits. Second offence: feed him to the Crocodiles on Pay-Per-View

I will not say in an open forum what I would do to all the repeat offenders we now carry in our prison system - on Pay-Per-View of course. Can you say: "Goodbye U.S. National Debt!"

 

You make it sound like the crimes (and that's what they are, CRIME) are some sort of contagion wherein the perpetrator is the victim of something outside of his control. Were I a businessman, I don't think I would want you getting too close to the till lest you be "victimized" by an uncontrollable urge to pilfer.

 

Sonny, unless you work for a top three auction company, own one of the top five coin firms, or are one of the principals of NGC or PCGS...I guarantee I have been around, held, had safe access, and inventory control of more legal tender, collector currency, bullion, jewelry, and rare coins than you can even imagine. Never took a thing...bad for one's reputation in the business.

Since I am a completely honest dude...I will say that on one occasion decades ago the thought of claiming that I left a "gem" 1907 EXHR in a taxi while I was taking it somewhere briefly crossed my mind!!!!!!!!!

 

Guilty as heII and nowhere to go but prison! And, yes he should have gotten the max!

 

I was a long term client of National Gold Exchange, the Yaffe controlled firm who filed bankruptcy many years ago, and a "creditor" involved in the action. To this day I've never received much other than notices of "postponements". I purchased a large 6 figure sum of certified Gold coins from this firm, and on several occasions had conversations with Mark when shipments weren't forthcoming. He usually properly interceded until the final action, as reported: http://www.usrarecoininvestments.com/coin_articles/nge-files-bankruptcy.htm

This was the fourth action of this nature in which I've been involved as a "creditor". I believe one can safely state that this mode of operation is a normal practice to acquire the wealth of clients without criminal action.

NGE, and numerous other similar businesses were partially causal for the Minnesota "Bullion Statutes". The Minnesota legislation, and other states law, in conjunction with the Federal Law Agencies, allow for the dismantling of these parasitic firms, and imprisonment of the "Principals".

We aren't allowed the latitude of your countries. Thus, we have without notice, federally confiscated the assets of legislative offending firms, suspending their activities, and imprisoned individuals responsible for criminal actions.

A large portfolio of activities is normally required to generate Grand Jury action, so the process may take years to implement. We are actively formulating cases for firms/individuals instrumental in the theft of others assets through various means. Demeaning value through subjective value reductive efforts, "conflict of interest" means, etc. throughout the nation, regardless of location, may be causal for actions similar to that of Mark Yaffe. It's believed new legislation allows for greater criminal and civil penalization.

Those perpetrating asset value reduction, or confiscation efforts, probably should be concerned. It's believed adequate precedents have been established for successful punitive efforts.

JMHO

 

Thank you for the additional link Rich. It explains the situation far more thoroughly.

 

Your additional information is good to have. I too know of one creditor who is still owed money and several creditors who have been satisfied. Somehow, I believe most would have been satisfied eventually if we only "cut off his arm up to the elbow" and let him keep buying/selling/making restitution

 

LOL!!

Although I found your suggestion appetizing, I believe an objective evaluation of past efforts to curtail dealer wealth confiscation will find dismal results. The processes for liquidation/reorganization, allowing perpetrators to steal and reorganize with virtual impunity, often can be found to increase immoral/illegal? activities. I believe the following link discloses the tip of the iceberg, in an unregulated industry, where many vessels for asset/wealth protection are sunk:

http://about.ag/GoldSilverFraud.htm

JMHO

 

Yep, "The American Way" - The big guys get everything! Look what all the "insiders" get away with regarding land deals, law breaking, foreign relations, tax breaks/evasion, on and on. As I hear it, he could have gotten as much as 15 yrs.

Nevertheless, the less the government is involved in the free market (good and bad actors) the better I like it. If someone breaks the law - same penalty for all...only a dream of course.

Thanks again for the info...I'm out of here.

I "just" realized I have been posting with I AM RICH! Cool. Now, I'm thinking of changing my CT ID to: URicherdanME.

 

"e only "cut off his arm up to the elbow" and let him keep buying/selling/making restitution"

he's a convicted bullion/coin thief I don't see how he could still buy/sell high dollar coins/bullion.

 

Saw him at the FUN show at his table right in front of the entrance speaking with James Halperin. It looked like he was doing business during the show and there were expensive coins in the cases.

 

You must be joking. Yaffe's actions clearly demonstrated a complete disregard for the law, and a total indifference to the principles of right and wrong. Even a kindergartner could have rendered a just verdict in the case. I can't believe how many people on this site think he would have changed his spots were he allowed to continue in business. Just incredible. In actuality, the only difference in the outcome if he were allowed to continue business, would have been the possible addition of a guest house to the mansion.

 

I don't know how you can make such general statements about a leading representative of our political society. OOPS!! SORRY!!

I thought you were referring to one of our elected/selected representatives. MY BAD!

 

"You must be joking. Yaffe's actions clearly demonstrated a complete disregard for the law, and a total indifference to the principles of right and wrong."

I agree. Clearly he was motivated by greed.
How/why some people defend this thief is beyond me.

 

Nice statement. The ONLY person defending his actions is HIS LAWYER! He has pleaded guilty to his crime. Get it. Unlike may others still walking free.