Friday, July 06, 2012

Dealer/Embezzler Pays His Victims Back With eBay Proceeds

Britain's Norwich Evening News reports, "A former treasurer, who used his position of trust to steal nearly £70,000 from two north Norfolk churches to fund his addiction to stamp collecting, has lived up to the promise he made to the judge to claw back the money."

Derek Klein, 58, who was jailed for 16 months in September 2007, sold his collection of 100,000 first day covers and stamps on eBay to repay his victims.

According to the article, at his trial, "The prosecution had wanted to arrange a bulk sale of the stamps which would have raised an estimated £25,000 but Klein – who, the court heard, was one of the country’s top stamp dealers – had said that he could make four times that amount if he broke up the collection and sold it off on eBay."

Klein’s collection of stamps is believed to have contained tens of thousands of first-day covers, including stamps marking England’s 1966 soccer World Cup win, the Silver Jubilee of George V and the silver wedding of George VI.

Shown above, Derek Klein.

Click here to read the entire article.
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posted by Don Schilling at 12:01 AM