Gun Experts Charged With Fraud Over Sale

[Drizzt]

Gun Experts Charged With Fraud Over Sale

By Associated Press

January 24, 2003, 10:59 AM EST


PHILADELPHIA -- Two firearms experts were indicted on charges of swindling a gun collector in a deal involving antique pistols, including guns owned by legendary Texas Ranger Samuel H. Walker.

Federal prosecutors accuse Richard Ellis of LaClaire, Iowa, and Michael Zomber of Franklin, Tenn., of conspiring to trick the unidentified Bucks County collector into paying $3.2 million for the mid-19th century revolvers.

Zomber and Ellis had purchased the guns for about $1.6 million, prosecutors said.

The buyer, identified in Thursday's indictment as J.M., paid Ellis to represent him as a consultant in the deal. Prosecutors said Zomber and Ellis fabricated correspondence to trick the collector into thinking he was in a bidding war with other buyers.

Ellis's attorney, Francis Devine, said he hadn't seen the indictment and could not immediately comment.

Zomber's lawyer, Gilbert Scutti, said the gun was worth as much as the buyer paid for it.

Zomber and Ellis were indicted on charges of conspiracy to commit mail and wire fraud. They remained free and were likely be summoned to court rather than arrested, said Assistant U.S. Attorney Robert Goldman.

Investigators said the pistol sales took place between 1997 and 1999.

Among the guns were two .44-caliber revolvers that gunsmith Samuel Colt had given as gifts to Walker, who had been influential in their design. Walker served during the Mexican War and was killed in 1847 while leading a charge in Mexico.

http://www.newsday.com/news/nationw...74393.story?coll=sns-ap-nationworld-headlines

 

[Drizzt]

The Associated Press State & Local Wire

February 25, 2003, Tuesday, BC cycle

12:10 AM Eastern Time

SECTION: State and Regional

LENGTH: 456 words

HEADLINE: Antique firearms dealer pleads guilty to fraud

BYLINE: By DAVID B. CARUSO, Associated Press Writer

DATELINE: PHILADELPHIA

BODY:
An antique gun expert pleaded guilty Monday to helping trick a wealthy collector into thinking he was in a bidding war for two pistols once owned by legendary Texas Rangers Capt. Samuel H. Walker.

The guns, a pair of .44-caliber Colt revolvers, were real, but prosecutors said there was no other buyer and that the price they ultimately sold for - $2.2 million - was vastly inflated.

Richard Ellis, a respected expert on Colt pistols, faces prison time when he is sentenced on one count of conspiracy to commit mail fraud, prosecutors said.

As part of the plea bargain, Ellis agreed to cooperate in the prosecution of his alleged accomplice in the scam, fellow antique weapons expert Michael Zomber, of Franklin, Tenn.

A grand jury indicted the pair in January on charges that they sought to cash in after learning that a Pennsylvania collector, James Murphy, was trying to amass a collection of rare guns and had his eye on what one prosecutor called "The Stanley Cup" of Colts: the Walker 1009 and Walker 1010.

Known by their sequential serial numbers, the guns were among the first .44- caliber Colts manufactured and had been presented to Walker as gifts by gun magnate Samuel Colt in appreciation of his aid in their design.

Some historians suspect that the revolvers were in Walker's possession when he was killed in combat in Mexico in 1847.

Investigators said Ellis acquired the Walker 1009 for $640,000, but arranged to sell it to Murphy for $1 million after showing him fabricated correspondence in which a fictional buyer claimed to be willing to pay at least that much for the gun. Ellis had operated a business that appraised and sold collectible firearms in Moline, Ill., prosecutors said.

Zomber and Ellis then implemented a similar scheme to drive up the price of the Walker 1010, which Zomber had purchased for $500,000, but resold to Murphy for $1.2 million, prosecutors said.

The pair then went on to sell two other antique Colts to Murphy for another $1 million, the indictment said.

Ellis's attorney, Francis Devine, said his client realized he made a mistake after he was sued over the sales. He said Ellis voluntarily reported what he had done to federal authorities in 2001.

"Since then, Mr. Ellis has been cooperating with the government at every turn," Devine said. "He is going to continue to cooperate with the government, and he looks forward to having the whole matter behind him."

The civil suit has been settled out of court, Devine said.

Zomber has pleaded innocent to the charges. His attorney, Gilbert Scutti, has said the guns were worth what Murphy paid for them.

A date for Ellis' sentencing has not been set. He remains free on bail.

 

[CZ-75]

This the same Zomber that sounds like a dunce when they show him in "Tales of the Gun"?

 

[TexasVet]

If those are really Walker's guns, and apparently they are, then he STILL got a bargain!! Heck, if I had a couple mil to toss around, I'd offer him a profit on them right now. Wow, Walker's Colts! They oughta be back home in Texas!

 

[BigG]

According to what I read some time ago, might have been in "Sixguns" by Keith, these presentation Colts unfortunately never reached Captain Walker. He had already been killed. The original Colt Walkers (believe 1,100 all told) all had serial #s like A90, B7, C23, etc. Numbered by individual company they were issued to. One with a numeric serial would be a later commercial product, IIRC. Walker had been killed almost before the original ones arrived. His fame had been earned using the older "Texas" Paterson.