MINNEAPOLIS (WCCO) – A Roseville rare coin dealer has been sentenced to six years in prison for defrauding elderly victims out of more than $700,000 worth of coins and cash.
Tory Evan Hughes, 45, the owner of Reputable Rare Coins, pleaded guilty in October to disreputable dealings.READ MORE: Where Does Minnesota's Power Come From?
The Minneapolis resident was convicted of mail fraud and sentenced Thursday in U.S. District Court to 71 months in prison.
“These victims have suffered immeasurably as a result of Hughes’ callous behavior,” Assistant U.S. Attorney Karen B. Schommer said in a statement. “Hughes lied to them, gave them false hope and gambled away their life’s savings. I hope that the victims find some measure of comfort in today’s sentence.”READ MORE: Thieves Target High-End Liquor In Downtown Mpls. Restaurant Burglaries
He would cold call elderly customers and persuade them to send him rare coins and cash money. Some sent their life savings.
But instead of paying them for their coins or giving them coins for their cash, Hughes told his customers he was having issues with coin suppliers and used their money on his gambling addiction and other personal expenses, the U.S. Attorney’s Office said.
Hughes also defrauded customers from of a business he incorporated in Gilbert, Arizona.MORE NEWS: How Do Minnesota's Vaccination Efforts Stack Up To Other States?