Case Timeline

The following chronology presents key milestones in the ongoing Wealthy Max civil forfeiture case.

2002 – September 2014 Wealthy Max delivers over 170 shipments of mutilated coins (of all denominations) to the US Mint, which accepts and pays for them.
2008 – 2010 The Treasury Office of the Inspector General conducts an investigation of the Mint’s Mutilated Coin Redemption Program, due to reports that it may be vulnerable to exploitation by criminals.  The report found no counterfeit coins had been submitted to the program
2010 – present The Department of Homeland Security, Homeland Security Investigations (HSI) undertake an investigation of imports of mutilated coins based on suspicions of counterfeiting
June 2014 Wealthy Max and other Chinese coin redemption companies deliver shipments of coins to the Mint’s designated foundry (PMX in Cedar Rapids, Michigan).  HSI agents present at the site apparently take samples of some of the coins.  The remaining coins are melted as per normal procedure.
September 2014 The Mint issues payment to Wealthy Max for the coins melted in June.  These funds are wired to the company’s bank.
September 27, 2014 The funds wired by the Mint to Wealthy Max are intercepted and seized by HSI on suspicions that the coins were counterfeit.
March 20, 2015 The U.S. Attorney files a civil forfeiture complaint against Wealthy Max and other Chinese companies in U.S. District Court for the District of New Jersey.
August 8, 2015 The U.S. Attorney files an amended forfeiture complaint against Wealth Max and other Chinese companies in U.S. District Court for the District of New Jersey.
October 20, 2015 Wealthy Max files a Motion to Dismiss the case against it due to multiple errors and misrepresentations included in the amended complaint, and the complete lack of evidence that the company did anything illegal.
October 29, 2015 Wealthy Max files suit against the U.S. government for violations of the Civil Asset Forfeiture Reform Act of 2000 (CAFRA).
October 29, 2015 The U.S. Treasury announces in the Federal Register that the Mutilated Coin Redemption Program is being suspended from November 2, 2015 through April 2016, for a review of its security protocols.
March 4, 2016 The U.S. Attorney files a request to a amend the civil forfeiture complaint a second time in order to clean up some of the errors that have been in the document since its first draft in March 2015.
March 18, 2016 Wealthy Max files a motion requesting that the court deny the government’s request to amend the complaint a second time.
July 14, 2016 Motion to dismiss hearing at the Federal District Court for Eastern Pennsylvania, in Philadelphia. Judge Juan R. Sanchez presiding.
July 21, 2016 Case against Wealthy Max was dismissed with prejudice.