Home / Crime and Justice / Coin Dealer Jailed Decade for $300K Flea Market Scam
Coin Dealer Jailed Decade for $300K Flea Market Scam
4 Jan
Summary
- A coin dealer was sentenced to 10 years in prison for grand theft.
- He scammed customers out of nearly $300,000 across multiple counties.
- Lutz operated under an alias at a local flea market to hide his past.
Seth Felipe Lutz, a 64-year-old coin dealer from Bradenton, has received a 10-year prison sentence for a series of grand theft offenses. A Manatee County judge imposed the sentence, along with 10 years of probation, following allegations that Lutz defrauded customers of approximately $300,000 across several counties. Investigations revealed that Lutz accepted payments for gold and silver items at his booth, "Steve's Best Coins," located at the Red Barn Flea Market, but consistently failed to deliver the merchandise.
Customers reported that Lutz would issue receipts, offer excuses regarding supply chain issues, and eventually cease all communication. In one instance, a buyer lost nearly $25,000 in January 2024 for undelivered gold coins, with Lutz admitting he never had the stock and could not provide a refund. Another customer paid $29,000 for over 1,000 silver bars which were never delivered, following a pattern of broken promises and evasive tactics.
