Jefferson County Man Arrested in Federal Mail Fraud Scheme
BEAUMONT, Texas – A 42-year-old Beaumont, Texas man has been arrested on federal charges in the Eastern District of Texas, announced Acting U.S. Attorney Brit Featherston today.
Westley Judy Pollard, Jr., was indicted by a federal grand jury on July 6, 2017 and charged with 11 counts of mail fraud. Pollard was arrested in Beaumont this morning and went before U.S. Magistrate Judge Zack Hawthorn for an initial appearance.
According to the indictment, from 2011 to 2016, Pollard worked as a salesperson in the rare and precious coin field. During this time, Pollard was employed by various coin companies in Beaumont, Texas and the surrounding area, where he sold coins to individual investors. Beginning in early 2014, Pollard began contacting prior customers and telling them that he could find a purchaser for their coin collections at significantly higher prices than they originally paid, or that he could get their coins re-graded to a higher level of condition, which would increase their value. At Pollard’s direction, the customers would allow him to take possession of their coins so that he could sell or re-grade them, and then return the proceeds or re-graded coins to them. Pollard directed the customers to mail the coins to him via FedEx, or, in some instances, he would take possession directly from the customer. After receiving the coins, Pollard would then sell them to pawnshops or other coin retailers, at significantly lower prices than the investors originally paid and without their consent, using the proceeds from the sales for his personal benefit. In connection with this scheme, Pollard convinced four customers to send him their coins, with an approximate combined value of $5,480,000.
If convicted, Pollard faces up to 20 years in federal prison.
This case is being investigated by the Federal Bureau of Investigation and is being prosecuted by Assistant U.S. Attorney Christopher T. Tortorice.
An indictment is not evidence of guilt. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.