The Manhattan DA's office announced the indictment of a rare coin broker who allegedly convinced an elderly woman and her daughter to invest their life savings in rare gold and silver coins, and then stole $430,000 worth of the coins back from them. Stephanie Brown has been charged with grand larceny, fraud and forgery to name a few, and DA Cy Vance said, “The defendant preyed upon the victims’ fears of a national financial collapse and convinced them to sink their life savings into collector coins." The mother and daughter allegedly heard radio ads saying rare gold coins were a safe investment. Yes, radio and rare coins. Today's news is brought to you by 1936.

After hearing the alluring radio ads, the mother and daughter allegedly called a brokerage company, who referred them to Brown. Brown began selling them coins in March of 2007, and soon convinced them to "liquidate all financial investments they held and to invest their life’s savings in gold coins." However, the Daily News points out that gold coins are not a great investment because while gold value is at a high, gilt coin value is depressed. The mother and daughter combined spent about $1.1 million on the coins, and Brown earned commissions of about $100,000 on each sale.

Brown then allegedly convinced the two to keep the coins at home, and then gained entry to their house, after which she was left alone with the coins. She is accused of destroying the documents identifying the coins and stealing 57 of their 160 coins, worth $430,000. Prosecutors have now recovered 16 of the stolen coins, which Brown had resold. Brown pleaded not guilty to the charges, but faces three and a half years in prison if convicted.