Coin Dealer Scam Artist Plea 23 Feb 13

An Excelsior coin dealer accused of scamming customers out of $2.5-million dollars has reached a plea agreement with federal prosecutors. 52-year-old David Marion owned International Rarities Corporation, which bought and sold gold coins and precious metals. A federal grand jury indicted him for conspiracy, securities fraud and money laundering. Marion is accused of taking money and coins from customers and giving them nothing in return. The US Securities and Exchange Commission has also accused Marion of securities fraud. He’s scheduled to go to trial in April of 2014 on that case. A sentencing date on the plea deal has not yet been scheduled.