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The E-Sylum: Volume 12, Number 10, March 8, 2009, Article 23

MISSOURI COIN CAPSULE SCAM FLEECES INVESTORS

Another numismatic-related scandal comes from Missouri. Has anyone heard of this business or person? -Editor
In January 2006, David Cooper told investors he planned to start a manufacturing company in Warsaw that would build “acrylic capsules” to store rare coins. He allegedly assured investors that the product would be sold all over the world and that there was “no risk” to their investment. Investors reported that Cooper promised they “would be rich, could stop working, could start traveling,” and would not have to worry about their retirement.

The order, which can be viewed online, reveals Cooper continued to solicit investments through August 2007, for laser equipment, marketing staff and assembly workers. By January of 2008, however, Cooper told investors that the company “is on financial life support” and “is completely out of money.” None of the investors identified in the order have received a return on their investments.

Records maintained by the Securities Division indicate that neither Cooper nor his two companies, GemSafe Plastics, located in Warsaw, Mo., and World Coin Net, located in Lincoln, Mo., were registered to offer or sell investments in Missouri.

To read the complete article, see: Coin Case Manufacturing Scheme That Cost Missourians Thousands, Shut Down (www.infozine.com/news/stories/op/storiesView/sid/34512/)



Wayne Homren, Editor

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