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. Last Updated: 07/27/2016

Dealer Sought in Coin Fraud That Snares Thriller Novelist

BALTIMORE, Maryland -- Investigators raid a house looking for missing gold coins and platinum bars. Allegations arise about a multimillion-dollar securities scheme. A suspected con man is said to keep an AK-47 in the safe by his bed.


These aren't the latest plot twists in a techno-thriller by Tom Clancy. Rather, they are the latest developments in the true story of Clancy and the man who authorities say defrauded him.


Clancy and about 100 other people around the country invested $7.5 million with Richard Scott, a Camp Springs, Maryland, coin shop owner who for more than a year has been the target of broad criminal and civil investigations by the Maryland attorney general.


No charges have been brought, but recently filed court papers provide a detailed look into the investigation of Scott, his store, called Goldie's, and the efforts of Maryland investigators to find $2.4 million that they say is missing.


Clancy met and made friends with Scott at a Baltimore Orioles game, later becoming his largest investor, with $1.6 million. But he is far from being the person who was hurt most.


Dozens of middle-class investors from around the country have reported that they lost the bulk of their life savings after trusting Scott, 51, whom they described as an affable, charming man who convinced them he would bring a guaranteed 15 percent return on investments. But Scott did not have the legally required licenses to act as a broker or financial adviser, according to a complaint filed by Maryland's securities commissioner.


Assistant Attorney General Carolyn H. Henneman described the investigation as complicated and said her office is examining numerous financial documents, many of which were seized in a November raid on Scott's home in Alexandria, Virginia.