22 March 2023 , 12:38
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A respected British auctioneer has been charged with the fraudulent sale of the world's most expensive coin.
Richard Beale was arrested on suspicion of falsifying the ownership documents of the historic piece to make it more valuable.
The 38-year-old has been charged with grand larceny and criminal possession of stolen property. He faces up to 25 years in prison if found guilty.
The coin was created 2,000-years ago and minted to commemorate the killing of Julius Caesar.
It is understood to be one of just three in existence, and was one of the most sought-after in the world before its sale.
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Only three of the precious coins have even been found (Roma Numismatics)The Eid Mar coin sold for $4.1 million (£3.5m) in New York in October 2020, the highest price ever paid for a coin at an auction.
Mr Beale is the owner and managing director of Roma Numismatics, a London-based auction house dealing in ancient artefacts.
He was was arrested in January in in New York on multiple charges, according to arrest warrants.
Nine years ago, he was allegedly given the coveted coin to sell by his 'co-conspirator' Italo Vecchi, according to the legal document.
The dealer is also accused of falsifying the provenance of the Sicily Naxos coin, minted around 430 BC.
The Brit dealer is also alleged to have falsified the provenance of the Sicily Naxos coin (Roma Numismatics)Mr Beale sold the coin for $293,000 (£240,000) at the same auction.
He is also accused of buying five coins in 2018 'from a convicted antiquities trafficker'.
Christopher Martin, chairman of the British Numismatic Trade Association described him as "like a bolt of lightning".
Speaking to ARTnews, Mr Martin said "Within a year, he was selling coins worth millions of pounds. That doesn't happen, but that's what happened with him.
"Where did he come from? Nobody really knew."
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The auctioneer is a Durham University graduate and former captain in the British Army.
He is due to appear in court in the US next month.