Case Dismissed….With Prejudice

On June 21, 2016, the United States District Court in the Eastern District of Pennsylvania issued a notice stating that the civil forfeiture case against Wealthy Max Ltd., and two other companies accused of submitting counterfeit coins to the US Mint’s Mutilated Coin Redemption Program, had been dismissed with prejudice. This announcement is the culmination of a year and half long legal process in which Wealthy Max with its legal defense team, GeyerGorey LLP, supported by the FormerFedsGroup.com consistently argued that there was absolutely no basis for government’s allegations regarding counterfeiting and/or redeeming counterfeit coins through the Mint’s program.

After clearly articulating the various errors in the government’s complaint and providing substantial evidence to support the fact that all of the coins redeemed from China were real, Wealthy Max was able to convince the Court of its innocence. .

“We are very pleased with the dismissal of the case involving our coins, and thank the Court for recognizing that we have not broken any laws,” said Matthew Wong, Co-founder, Wealthy Max Limited. “That said, this has been a trying, and stressful, experience for Wealthy Max, all of our employees and the many people involved in the scrap metal industry that supply us with mutilated coins.

Throughout this challenging period, we have believed in the U.S. justice system and we continued our operations to procure, sort and validate mutilated U.S. coins that are included in the scrap metal shipments sent to China for recycling. While we have always maintained a good quality assurance program for the coins we redeem, as a result of this case we have enhanced this aspect of our business in order to ensure our full compliance with the U.S. Mint’s regulations.”

Bradford Geyer, Partner GeyerGorey LLP and Wealthy Max’s counsel, stated, “We are very gratified with the Court’s decision to dismiss, with prejudice, the case involving Wealthy Max, as it reflects the reality that there was never any crime, nor ever any intent to commit a crime. Through this action Judge Juan R. Sanchez as furthered the cause of justice and helped start the process of putting an entire industry back to work.

We are now hopeful that in the near future the U.S. Mint’s Mutilated Coin Redemption Program will be reopened and that Wealthy Max, its employees, and the thousands of people that participate in its international value chain can get back to work.”

The dismissal of the Wealth Max case is not only a victory for Wealthy Max, but a validation for the legitimacy of the Chinese recycling industry and the thousands of men and women working every day to repurpose the world’s trash.