Where did the money go? - Coeur d'Alene Press: Local News

Where did the money go?

CoiNuts owner's home searched for coins, gold

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Posted: Thursday, May 16, 2013 12:00 am

HAYDEN LAKE - Kootenai County Sheriff's Office investigators spent Wednesday combing through the home of CoiNuts owner Kevin Mitchell looking for valuables.

About a dozen members of the sheriff's office showed up at Mitchell's home, located at 37593 E. Hayden Lake Road, first thing Wednesday morning.

A writ of execution signed by a 1st District Court judge cleared the way for detectives to take all gold, silver, coins, jewelry, cash, paintings, sculptures, guns, ammunition and electronics. They also searched the 5-acre property outside the home for valuables.

The sheriff's office brought a portable storage unit to Mitchell's home - which is estimated to have 4,000 to 5,000 square feet of floor space - and hired a moving company for the day.

As his home was being searched, Mitchell, 47, roared off in his black Hummer, which had been seized a couple weeks ago but is now back in his possession.

The sheriff's office took action Wednesday after Mitchell failed to make good on a $420,000 default judgment, which is for money owed to CoiNuts customer Larry Brandenburg, of Coeur d'Alene. Brandenburg's attorney, John Magnuson of Coeur d'Alene, declined to comment on the sheriff's office action.

Lt. Stu Miller, of the sheriff's office, said handguns, rifles and ammunition were found along with multiple computers and TV sets.

A small safe was found and had "a very small amount of coins in it," he said. The items will all be inventoried.

The sheriff's office will hold the property until a sale can be arranged. Mitchell, however, has 14 days to challenge the seizure and sale of some items. Funds from a sale would be turned over to the court and then Brandenburg.

Miller said Mitchell directed sheriff's investigators to the items listed in the court order.

"He was very cooperative to us," Miller said.

Dozens of former CoiNuts customers have alleged that Mitchell swindled them out of thousands of dollars, but no criminal charges have been filed.

Last summer, when the sheriff's office did an asset seizure at the coin shop, located at 296 W. Sunset Ave., investigators spent two-and-a-half days doing an inventory of all the gold and silver rounded up.

"We had Rubbermaid tubs full of coins and stuff," Miller said.

After that seizure, though, a judge reversed his decision so the sheriff's office gave all the coins and valuables back.

The question everyone has been asking since: Where did all the money go?

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  • markaman posted at 2:40 pm on Tue, May 21, 2013.

    markaman Posts: 1

    I am sorry, but this is starting to feel a little exploitive to me. I understand that this man has done wrong to a lot of people and taken their hard earned money. That is repulsive. However, this man has a wife and children and we need to remember that this is affecting them as well. The children are absolutely victims in all of this. To keep plastering every tiny bit of change in this story the way David Cole is doing does not say "hero" to me, but shows me a bored reporter who has it out for this Mitchell at the expense of his family.

  • Keven Johnson posted at 1:53 pm on Sat, May 18, 2013.

    Keven Johnson Posts: 1260

    The money seized is the whole point! Why should they prosecute and convict when they can confiscate your money without convicting you of a crime?

    There's no money in prosecuting Mitchell.

  • cg posted at 5:52 am on Sat, May 18, 2013.

    cg Posts: 1

    The Kootenai County Prosecuters are weak and affraid to uphold the law when it comes to things like this. Ask the interdiction cops what they think. They have seized millions of cash and drugs in the last couple years and only a few of the traffickers are behind bars. Most released with a slap on their wrist and money seized because the prosecuters are too lazy to make a case.

  • skunkworks posted at 2:14 pm on Thu, May 16, 2013.

    skunkworks Posts: 252

    My guess is that there will be a "Phony" Paper Trail on minimal Funds with the Bulk of the Funds Untraceable..Mr Mitchell was so Smart as to Ripping Off his customers that he surely would have covered his A@@ when the Jig was Up..People who Steal "others" money tend to be Generous with family members so I would start with his family members that may have got a "Tax-Free" Gift ($$$$) from Mr Mitchell which is allowed by the IRS once a Year...

  • Rogue Cop posted at 12:05 pm on Thu, May 16, 2013.

    Rogue Cop Posts: 2271

    Get a rope!

  • will-- posted at 10:18 am on Thu, May 16, 2013.

    will-- Posts: 879

    Why seize all the goods just to turn around and give it all back?

  • arius1 posted at 10:16 am on Thu, May 16, 2013.

    arius1 Posts: 656

    Take away the Hummer and let him have a 73 Vega.

  • Cdajon posted at 6:19 am on Thu, May 16, 2013.

    Cdajon Posts: 359

    It's gone. Take an eye from him. Best you're going to get.

  • peanutbutter posted at 5:46 am on Thu, May 16, 2013.

    peanutbutter Posts: 82

    And the Hummer....we know it didn't go to pay the mortgage on the house since he hasn't paid since October...

  • Rationale posted at 12:04 am on Thu, May 16, 2013.

    Rationale Posts: 1973

    Where did all the money go?

    Offshore accounts!!! DUUUUUUHHHHHHH!!!!!

    Like that is so difficult to figure out!

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