Rare-coin broker admits conning elderly NY woman

AP News
Posted: May 24, 2011 9:22 PM
Rare-coin broker admits conning elderly NY woman

A broker of rare coins has admitted to conning a New York octogenarian into investing her life savings in gold and silver coins and then stealing them from the woman's home to resell them.

Prosecutors say Stephanie Brown pleaded guilty in Manhattan to charges of grand larceny and scheme to defraud. The 44-year-old Paradise Valley, Ariz., woman is scheduled to be sentenced June 6.

Prosecutors say she admitted duping several victims, including the then 83-year-old woman and her 56-year-old daughter.

Prosecutors say Brown played on her victims' fears of instability in the markets to persuade them into buying coins.

They say Brown then hustled her way into the octogenarian's home, where she stole $430,000 worth of the coins and then resold them.

Brown's attorney couldn't immediately be contacted.