Seattle – The former President & CEO of Northwest Territorial Mint, a now-bankrupt company dealing in precious metals, was convicted today in U.S. District Court in Seattle of 14 federal felonies resulting from a Ponzi-like scheme that defrauded customers of millions of dollars, announced Acting U.S. Attorney Tessa M. Gorman.  After more than three weeks of testimony and evidence, the jury deliberated about two days before convicting Bernard Ross Hansen, 60, aka Ross B. Hansen of multiple counts of wire and mail fraud.  The jury also convicted Vault Manager Diane Renee Erdmann, 48, of 13 counts of wire fraud and mail fraud following the trial.  Sentencing for both Mr. Hansen and Ms. Erdmann is scheduled for October 29, 2021.

Northwest Territorial Mint (NWTM) operated both a custom business that involved the manufacturing of medallions and other awards, and a bullion business that involved the selling, buying, exchanging, storing, and leasing of gold, silver, and other precious metals.  The company had offices in Federal Way and Auburn, Washington, but declared bankruptcy on April 1, 2016.

 According to records in the case and testimony at trial, Hansen and Erdmann defrauded NWTM customers in a variety of ways. The evidence at trial showed that Hansen and Erdmann lied about shipping times for bullion, used customer money to expand the business to other states, and used customer money to pay their own personal expenses.  In this way the company lacked enough…

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