NR 17-39 Melbourne Coin Dealer Arrested for Fraud Related Crimes

July 19, 2017 - 4:17 pm Author: Category:

The Brevard County Sheriff’s Office, Economic Crimes Task Force has culminated an investigation into the allegations of fraud with the arrest of a Melbourne coin dealer. Agents arrested 63-year-old, John Wenzel Kane of 1807 Woodbury Circle, Melbourne; the owner of Coins and Curiosities, earlier today after an arrest warrant was issued by a judge charging him with Racketeering, Scheme to Defraud over $50,000.00, Communications Fraud over $50,000.00, Depositing a check with the intent to Defraud (12 counts), Grand Theft over $300.00 (14 counts) Grand Theft of a person over 65 (2 counts) and Worthless Checks (2 counts). 

Kane was transported to the Brevard County Jail Complex on $112,000 Bond.

The investigation was initiated in 2016 after the Melbourne Police Department was contacted by victims who alleged that they had been defrauded out of money and/or collectable coins by Mr. Kane. The investigation was forwarded to the Economic Crimes Task Force in early 2017. The investigation has revealed that Mr. Kane was defrauding the victims in two ways:

Victims would order either gold or silver coins as an investment opportunity from Mr. Kane through his business. Mr. Kane would collect the full amount for the coin order, up front from the victim and then fail to deliver the coins. The second type of scheme reported by the victims, involved victims giving Mr. Kane gold and silver coin collections to sell for them on consignment. Mr. Kane would resell the collection and not provide payment or return the collection to the victims.

It was found that some victims did receive partial payment from Mr. Kane after many months and due to the threat of legal action. It was determined that Mr. Kane was using new victim’s monies to provide these partial payments to previous victims as well as using the money for personal financial purposes.

The investigation has revealed that over a three-year period covering 2013-2016, Kane defrauded fifteen victims either temporarily or permanently out of approximately $291,000.

The Brevard County Sheriff’s Office Economic Crimes Task Force is comprised of investigators from the Sheriff’s Office, Titusville Police Department, Melbourne Police Department, Cocoa Police Department and a dedicated attorney from the State Attorney’s Office.

If you believe you may have been victimized by Kane or have information about this investigation, please call Sergeant Jackie Hearon of the Brevard County Sheriff’s Office Economic Crimes Task Force at 321-633-8410 or CRIMELINE at 1-800-423-TIPS (8477). All calls to CRIMELINE are confidential and callers can remain anonymous and be eligible for a reward.

For additional information concerning this News Release, please call PIO Tod Goodyear of the Brevard County Sheriff’s Office at 321-501-7594.