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12/13/2021

Pallets of silver coins seized in international fraud case tied to South Dakota

Kelo News

SIOUX FALLS, S.D. (KELO) — An international scheme involving millions of dollars, fake humanitarian projects, silver coins and suspects still on the run sounds like the plot of a Hollywood movie. But this was all part of a case that was tried in federal court in South Dakota right before Thanksgiving.

Now, KELOLAND investigates has obtained photos of evidence that helped lead to two convictions in this case, including a pallet of silver coins purchased with victims’ money.

A jury found Nathan Peachey, of Pennsylvania, and John Winer, of New Mexico, guilty of numerous counts of wire fraud and money laundering. The two claimed to be collecting money for religious charities and humanitarian projects, but instead stole nearly $13 million through banks and international wire transfers. The case was tried here in Sioux Falls because they used South Dakota banks and some of the victims are also here.

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