November 17, 2021
Scam/Fraud

Former President and CEO of now bankrupt precious metals firm convicted of mail and wire fraud for Ponzi-type scheme | USAO-WDWA

Seattle – The former President & CEO of Northwest Territorial Mint, a now-bankrupt company dealing in precious metals, was convicted today in U.S. District Court in Seattle of 14 federal felonies resulting from a Ponzi-like scheme that defrauded customers of millions of dollars, announced Acting U.S. Attorney Tessa M. Gorman.  After more than three weeks of testimony and evidence, the jury deliberated about two days before convicting Bernard Ross Hansen, 60, aka Ross B. Hansen of multiple counts of wire and mail fraud.  The jury also convicted Vault Manager Diane Renee Erdmann, 48, of 13 counts of wire fraud and mail fraud following the trial.  Sentencing for both Mr. Hansen and Ms. Erdmann is scheduled for October 29, 2021.

Northwest Territorial Mint (NWTM) operated both a custom business that involved the manufacturing of medallions and other awards, and a bullion business that involved the selling, buying, exchanging,…

Read full article here: www.justice.gov