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NWTM owner and vault manager arrested and charged with 20 counts each
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Thread: NWTM owner and vault manager arrested and charged with 20 counts each

  1. #1
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    Default NWTM owner and vault manager arrested and charged with 20 counts each

    Ross Hansen and Diane Erdmann Arrested, Indicted


    April 15, 2018 8:05PM

    On Thursday, April 12, 2018, the U.S. Attorney filed an indictment (criminal case 2:18-cr-00092-RAJ in the Washington West District), against Ross Hansen and Diane Erdmann. They were arrested today, and the case was unsealed today. They were charged with 10 counts of wire fraud and 10 counts of mail fraud. [Please remember that everything stated here is an allegation, not necessarily a fact]

    It states that "Although Hansen and Erdmann fulfilled some standard bullion customer orders, these orders were fulfilled by using money from newer customers." It states (as we knew) that the fraud was similar to a Ponzi scheme. It also points out the now-infamous "it is our policy to ship orders promptly after you have properly paid us" notice on the website. It says that starting around 2015, NWTM sent out E-mails fraudulently stating reasons why orders would not be timely delivered, such as "due to unprecedented demand."

    It further refers to the term I uncovered, the "drop dead" date, that was used internally. It points out, as I have, that many orders were not shipped by the "drop dead" date. It goes on to say that Diane Erdmann "intentionally fulfilled some standard bullion customer orders with the wrong type or brand of bullion". It states that "more than half of the silver bullion orders over $5000 placed in January 2015 were not fulfilled until August 2015 or later."

    It states that Diane Erdmann specified that smaller orders be filled first (which makes sense, as it results in fewer people complaining). It states that 93% of the dollar value of silver orders in 2015 were not shipped within the required 10 weeks. It states that Diane "Erdmann also prioritized fulfilling orders where the customer had threatened to file a lawsuit or to contact the authorities." It states that NWTM employees (at the direction of Mr. Hansen and Ms. Erdmann) regularly lied to customers regarding delays, including telling them that NWTM had to fulfill government contracts or because the U.S. Mint was not producing certain products.

    It states that Hansen and Erdmann "fraudulently inflated the amount of precious metals inventory in the enterprise software to allow additional sales to be entered into the system." It points out that storage metal was used to fulfill customer orders, and that employees referred to it as "borrowing" or "pulling" from storage (as opposed to the term "poaching" seen on some storage boxes). In some cases, the storage metal was never even purchased.

    It states that multiple employees asked for inventories, and Hansen and Erdmann refused.

    It mentions that Pan American silver, which had consigned 75,000oz of silver to NWTM, requested the silver back around September 30, 2015, and was told they would get it back in installments from February 2016 to June 2016 (they never did return any of the metal, nor did they have any allocated to Pan American).

    It states that Hansen and Erdmann took owners' draws of over $1,000,000 from 2012 to 2016. It also mentions the $700,000 of metal that they sold for attorney expenses.

    Information in the filing suggests an investigation that started in 2014.

    References: Indictment, Order issuing bench warrant, news article.

    Indictment - http://about.ag/pics/bk/nwt/us/1.pdf

    Bench warrant - http://about.ag/pics/bk/nwt/us/3.pdf

    News article - http://www.federalwaymirror.com/news...etals-company/
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  2. #2
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    Further Arrest Details

    April 17, 2018 8:40AM

    I have heard that Ross Hansen and Diane Erdmann have not been detained, but were allowed to self-report to their initial appearance, which was yesterday at 2:00PM.

    Although the court has not yet released details of bail, I have heard that they were both released without bond, on their own recognizance (essentially a promise to show up for court appearances). I have also heard that they are restricted to travel only in the Western District of Washington, although some exceptions may be made.

    This information does not come from the court, but I believe it to be from a reliable source.

    UPDATE April 17, 2018 3:10PM: I have confirmed this information. Hansen and Erdmann are also required to surrender any passports they may have. They also "must not harass, threaten, intimidate, tamper with, improperly influence, or injure... victims of crime."
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

  3. #3
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    Pleading Not Guilty, Public Defenders

    April 17, 2018 3:20PM

    After going through what must have been dozens of lawyers over the past few years, some paid in cash and others bullion, Hansen and Erdmann have been assigned public defenders. Ironically, they made a sworn financial statement that they are "financially unable to retain counsel."

    The irony is that Ms. Erdmann claimed that she was effectively destitute (her attorneys' words), and then came up with $700K of bullion to pay legal bills.

    Mr. Hansen was assigned Jennifer Elizabeth Wellman and Dennis Carroll, and Ms. Erdmann was assigned attorney Michael G Martin.

    Both Hansen and Erdmann pleaded Not Guilty. A jury trial is scheduled for 6/25/2018 at 09:00 AM
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

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