Coin, Metals Dealer Accused of Theft, Fraud

A Huntington Beach man who sold rare coins and precious metals by telephone has been arrested on felony charges of grand theft, fraud and operating an unregistered telemarketing company, the Orange County district attorney reported Wednesday.

Lamar Andre Owens, 29, was arrested Friday for allegedly cheating customers of his Rare Coins and World Numismatics. That company closed in April after coming under investigation, said Brent Romney, supervisor of the district attorney’s major fraud section.

When authorities went to Owens’ residence to arrest him, they discovered that he had set up yet another “boiler room” there dealing in rare coins and precious metals, Romney said.

Romney said the scope of the alleged fraud, including the number of customers who were victims and the total loss, is as yet undetermined.

When the former premises of Rare Coins and World Numismatics at 19400 Beach Blvd. were searched by investigators last April, Romney said, many of the files were missing. He said it then took investigators until Dec. 4 to gather enough information to obtain a warrant for Owens’ arrest.

Romney said Owens’ customers complained to the district attorney’s office that many of the orders they placed for costly gold, silver and platinum coins were never delivered, although they paid for the coins in full.

Neither Owens nor his attorney could be reached for comment. Owens’ preliminary hearing is set for Jan. 16.