Florida Coin Dealer Faces New Fraud Charges After Allegedly Scamming Customers Out of $300,000
Manatee County authorities arrest repeat offender Seth Felipe Lutz for grand theft at Bradenton flea market.
Authorities in Manatee County, Florida, have arrested Seth Felipe Lutz, a 63-year-old coin dealer, on multiple grand theft charges.
Lutz, who operated under the alias 'Steve' at the Red Barn Flea Market in Bradenton, is accused of scamming customers out of nearly $300,000 by taking payments for gold and silver products he never delivered.
The recent charges add to his history of fraudulent activities in neighboring Pinellas County, where he defrauded buyers of $220,000 over five years.
A Pattern of Deception
Operating under the booth name 'Steve’s Best Coins,' Lutz reportedly took advance payments from customers for precious metals that were either never delivered or falsely promised to be in stock.
Investigators say Lutz used the alias 'Steve' to conceal his criminal history from customers.
Arrest records indicate that at least three customers reported being defrauded in Manatee County in 2024, losing nearly $65,000 in total.
In one incident, a customer paid Lutz $25,000 in January 2024 for a set of gold coins.
Despite receiving a receipt, the customer never received the order.
Lutz allegedly provided excuses for the delay and offered partial reimbursements but failed to deliver the product or refund the full amount.
Similarly, in another case, a customer paid $29,000 for over 1,000 silver bars but received neither the bars nor a refund, with Lutz claiming hospitalization and delivery issues.
Criminal History in Pinellas County
Lutz’s fraudulent activities date back to his time operating 'Paradise Coins and Collectibles' in Pinellas County.
In 2017, he was convicted of scamming 31 customers out of $220,000 in a similar scheme involving precious metals.
He served over five years in prison and was released in September 2022. Despite being on probation until 2037, Lutz resumed similar practices upon his release, according to investigators.
Recent Arrest and Charges
Manatee County deputies arrested Lutz on December 26, 2024, following complaints from multiple victims.
He now faces three counts of grand theft and remains in custody at the Manatee County jail with a bond set at $52,500.
According to court records, Lutz has pleaded not guilty to all charges.
During the investigation, detectives discovered that Lutz used the alias 'Steve' to obscure his criminal past and gain the trust of unsuspecting customers.
When questioned about the name, Lutz reportedly stated that he 'just liked the name Steve.'
Customer Impact and Allegations
One customer recounted paying nearly $1,000 for three silver bars in May 2024, a transaction that followed previous successful dealings with Lutz.
However, this time, the silver was never delivered.
After weeks of unfulfilled promises, Lutz admitted to detectives that he never had the items in stock and could not provide a refund.
Another victim contacted Lutz’s son, whose name appeared on the business card for 'Steve’s Best Coins,' only to learn that Lutz was already in legal trouble for other grand theft charges.
Legal and Probationary Concerns
Detectives highlighted Lutz’s probation status, noting that his actions violated the terms of his release.
Despite his previous conviction and ongoing probation, Lutz allegedly resumed fraudulent activities, targeting customers who trusted his reputation as a coin dealer.
Ongoing Investigation
As the investigation unfolds, authorities are urging potential victims to come forward with any information related to Lutz’s activities.
The Manatee County Sheriff’s Office continues to investigate the extent of his alleged fraud, while Lutz awaits trial.
This case underscores the risks associated with unregulated transactions in informal marketplaces, as well as the challenges of preventing repeat offenses by individuals with prior convictions.
Lutz, who operated under the alias 'Steve' at the Red Barn Flea Market in Bradenton, is accused of scamming customers out of nearly $300,000 by taking payments for gold and silver products he never delivered.
The recent charges add to his history of fraudulent activities in neighboring Pinellas County, where he defrauded buyers of $220,000 over five years.
A Pattern of Deception
Operating under the booth name 'Steve’s Best Coins,' Lutz reportedly took advance payments from customers for precious metals that were either never delivered or falsely promised to be in stock.
Investigators say Lutz used the alias 'Steve' to conceal his criminal history from customers.
Arrest records indicate that at least three customers reported being defrauded in Manatee County in 2024, losing nearly $65,000 in total.
In one incident, a customer paid Lutz $25,000 in January 2024 for a set of gold coins.
Despite receiving a receipt, the customer never received the order.
Lutz allegedly provided excuses for the delay and offered partial reimbursements but failed to deliver the product or refund the full amount.
Similarly, in another case, a customer paid $29,000 for over 1,000 silver bars but received neither the bars nor a refund, with Lutz claiming hospitalization and delivery issues.
Criminal History in Pinellas County
Lutz’s fraudulent activities date back to his time operating 'Paradise Coins and Collectibles' in Pinellas County.
In 2017, he was convicted of scamming 31 customers out of $220,000 in a similar scheme involving precious metals.
He served over five years in prison and was released in September 2022. Despite being on probation until 2037, Lutz resumed similar practices upon his release, according to investigators.
Recent Arrest and Charges
Manatee County deputies arrested Lutz on December 26, 2024, following complaints from multiple victims.
He now faces three counts of grand theft and remains in custody at the Manatee County jail with a bond set at $52,500.
According to court records, Lutz has pleaded not guilty to all charges.
During the investigation, detectives discovered that Lutz used the alias 'Steve' to obscure his criminal past and gain the trust of unsuspecting customers.
When questioned about the name, Lutz reportedly stated that he 'just liked the name Steve.'
Customer Impact and Allegations
One customer recounted paying nearly $1,000 for three silver bars in May 2024, a transaction that followed previous successful dealings with Lutz.
However, this time, the silver was never delivered.
After weeks of unfulfilled promises, Lutz admitted to detectives that he never had the items in stock and could not provide a refund.
Another victim contacted Lutz’s son, whose name appeared on the business card for 'Steve’s Best Coins,' only to learn that Lutz was already in legal trouble for other grand theft charges.
Legal and Probationary Concerns
Detectives highlighted Lutz’s probation status, noting that his actions violated the terms of his release.
Despite his previous conviction and ongoing probation, Lutz allegedly resumed fraudulent activities, targeting customers who trusted his reputation as a coin dealer.
Ongoing Investigation
As the investigation unfolds, authorities are urging potential victims to come forward with any information related to Lutz’s activities.
The Manatee County Sheriff’s Office continues to investigate the extent of his alleged fraud, while Lutz awaits trial.
This case underscores the risks associated with unregulated transactions in informal marketplaces, as well as the challenges of preventing repeat offenses by individuals with prior convictions.
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