A Parrish man faces up to 20 years in federal prison after he pleaded guilty Thursday to mail fraud, according to the U.S. Attorney's Office in Tampa.
Patric Coleman, 35, owned and operated Moore Coins Inc. of Brandon, which sold gold and silver coins to customers across the country. Moore Coins, and other coin collectors and merchants, identify coins by using a numeric grading systems used to determine the type, quality and value of a particular item.
According to a plea agreement, Coleman "willfully obscured the legitimate grades from coins sold by Moore Coins, misrepresented the value of coins sold, and shipped coins to consumers with invoices reflecting fraudulent and inflated numerical grades and values," a news release states.
The scheme cost customers a total of $158,406, according to prosecutors.
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The case was investigated by the U.S. Postal Inspection Service and the Florida Department of Law Enforcement.