Riverton Man Sentenced For Stealing $1.9 Million Of Gold And Silver From His Parents, Pawning It In Utah
A Riverton man was sentenced last week to more than seven years behind bars for stealing $1.9 million, mostly gold and silver, from his parents and pawning it out of state, according to federal court records.
Richard Jordan Kennedy will serve that time for interstate transportation of stolen property in addition to a sentence for another, unidentified crime in Montpelier, Idaho, according to the minutes of the sentencing by U.S. District Court Judge Scott Skavdahl on Friday.
A second count -- being a felon in possession of a firearm -- was dismissed at sentencing.
Skavdahl ordered to Kennedy to pay back taxes, penalties and interest. The judge also ordered him to complete a substance abuse treatment program, and pay nearly $1.9 million in restitution to his parents' trust fund.
The case began nearly two years ago when two Fremont County sheriff's detectives told Lander FBI agent Jordan Pyle about a couple -- she was 70 and he was 81 in January 2013 -- in Riverton who reported a theft of most of their life savings stored in four safes in their house, according to Pyle's affidavit. A pistol was missing, too.
They had invested about $800,000 in gold and silver including bullion and coins that grew in value to nearly $1.9 million. They also had about $75,000 in cash. All that remained in their safes was a bundle of $2,000 cash. The gold, silver and cash were uninsured.
Pyle also learned from the detectives that their son, Kennedy, owned a scrap metal business and that he had a criminal history including a felony.
Pyle searched pawn databases and found Kennedy had been consistently pawning gold, silver and firearms starting in October 2010. The parents identified the pawned items as theirs.
A search of the parents' ranch in Randolph, Utah, in March 2013 yielded evidence of large expenditures by Kennedy including cash spent at casinos in Nevada and Wyoming, varieties of ammunition, and a debit card belonging to a woman.
Pyle and another agent interviewed Kennedy, who admitted to taking his parents gold and silver, according to the affidavit.
The agents interviewed the woman, a prostitute in Salt Lake City. She told agents Kennedy had paid her to quit prostitution, and she often saw him carrying gold, accompanied him while he pawned it, and that he told her about getting cash at his parents' house.
Pyle later received a statement from a pawn dealer in Salt Lake City who wrote Kennedy pawned the gold and silver for his parents over two years. The pawn dealer had loaned Kennedy $34,000 allegedly for some of his parents' gold, according to the affidavit. "That was the last time (the dealer) saw Kennedy and he never received items for the money or a repayment of the loan."
Pyle also interviewed Kennedy's daughter. She said her father once showed her a large quantity of cash that appeared to be professionally wrapped, according to the affidavit. "She stated that 'He said that part of the money was his, but he's been known to lie.'"