Financial Crime: An empty vault: Silver dealer ordered to pay $146 million in case of 500,000 missing coins

Financial Crime: An empty vault: Silver dealer ordered to pay 6 million in case of 500,000 missing coins

Financial Crime

Investigators allege Robert Higgins misappropriated tens of millions of dollars’ worth of silver American Eagle coins

Investigators say 500,000 of the American Eagle silver coins that were supposed to be contained in Robert Higgins’ vaults are missing.

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When investigators went into the vault where Robert Higgins claimed he kept half a million of his customers’ silver coins, all they say they found were empty boxes filled with IOUs.

Investigators with the Commodity Futures Trading Commission say the empty vault was the result of a complex coin-leasing scam in which Higgins claimed he was buying and storing American Eagle coins but pocketed tens of millions of dollars of investors’ money instead.

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