Newport Beach Coin Dealer Wounded, 2 in Shop ‘Executed’
A Newport Beach coin and precious metals dealer who was under investigation for allegedly bilking dozens of investors out of $1 million was critically wounded Tuesday and two people in his shop were shot to death. All three were shot in the back or top of the head in “execution style,” according to a federal law enforcement official.
William D. King, 36, the owner of Newport Coin Exchange, was in surgery at Fountain Valley Regional Hospital and Medical Center late Tuesday night, a hospital spokeswoman said.
King and two other people--an unidentified man and a woman--were shot in the coin shop shortly before 6 p.m., Newport Beach Police spokesman Robert Oakley said. A robbery alarm at the shop alerted police that something was wrong, and a phone call from a witness in the parking lot came in one minute later.
King was arrested in May for operating another firm, Precious Metals Accumulation Corp., without a telemarketing license.
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