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BRADENTON, Fla. (WFLA) — Deputies in Manatee County have charged 63-year-old Seth Lutz with multiple counts of grand theft.
He is accused of accepting tens of thousands of dollars from customers for gold and silver, which authorities said he had no intention of giving to them.
Lutz ran a booth at the Red Barn Flea Market in Bradenton called Steve’s Best Coins. His customers in the area knew him as Steve, not Seth.
It’s estimated he got away with more than $100,000 before he was arrested.
Manatee County deputies believed there could be even more victims.
“Maybe they’re embarrassed, and they don’t want to come forward and tell us, but we need to know,” public information officer Randy Warren said.
Deputies said Lutz had been arrested for similar crimes when he operated a coin shop in Pinellas County. Records show he duped 31 victims out of more than $220,000 over a five-year period. He was sentenced to five-and-a-half years in prison followed by probation until September 2037.
“He obviously didn’t learn his lesson from having to go to prison and serve time for stealing,” Warren said. “To get back out and do it again, it just makes us think that this is what he does. Hopefully, this time he’s going to go away for a longer period of time and won’t do this again. We have people that are out lots of money and we want to get that money back, but it is going to be very difficult.”
Some victims told authorities they had purchased silver and gold from him multiple times with no issues. In one case, after the victim sent Lutz $960 through Zelle for silver bars, he never heard from him again or received the silver.
Anyone who suspects they may have been victimized is asked to call MCSO.