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Schiltz noted, however, that Marion’s pledge to assist federal authorities in other coin-industry investigations “did not rise to the level of substantial assistance” but said he gave Marion “credit for trying.”
Defense attorney Craig Cascarano painted Marion as a successful businessman and dedicated family man whose life went awry after a series of knee surgeries led to a dependence on the painkiller OxyContin which was exacerbated by an addiction to alcohol and gambling.
“He took money to feed that addiction, which was threefold. That life literally destroyed him,” said Cascarano, who requested an 18-month prison sentence for Marion. “The person that David is today is not the person involved in the criminal conduct.”
But Schiltz called Marion’s crimes “extremely serious” and noted Marion was earning up to $1 million as owner of his company.
“This was not a crime of impulse or a crime of desperation,” Schiltz said. “The financial services industry in general and the precious metal industry in particular are rife with fraud.”
International Rarities Corp. filed for Chapter 11 bankruptcy protection in August 2011 but was forced to liquidate last September after the SEC filed suit against Marion in March.
Staff writer Dan Browning contributed to this report.
David Phelps • 612-673-7269