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Doctor Convicted in $500,000 Coin Scheme

A New York physician has been convicted by a Los Angeles federal court jury of trying to pass $500,000 in counterfeit bank checks to purchase Krugerrand gold coins from the Continental Coin Corp. of Van Nuys.

Dr. Miles Galin, 64, was found guilty Monday after a weeklong trial on charges of wire fraud, interstate transport of counterfeit securities and negotiating the bogus checks. He remains free on bond pending sentencing Sept. 28.

Galin, whose license to practice medicine in New York was revoked because of billing irregularities, was accused of using several conduits, including a onetime girlfriend, to carry out the counterfeit check scheme.

The phony checks appeared to be written from a Bear Stearns brokerage account at New York’s Chemical Bank. However, a worker at Continental Coin became suspicious about the transaction and notified the FBI.

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Federal agents arrested Galin when he showed up in the parking lot at San Jose Airport to retrieve the gold coins from his former girlfriend. She cooperated with investigators and was not prosecuted.


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