A plea agreement has been finalized with a Grass Valley gold and coin dealer who defrauded dozens of people, mostly over 60 years old. Deputy Nevada County D-A Jim Phillips says Gregory Arnoldi has pleaded guilty to five felony counts and will serve over 13 years in prison…

click to listen to Jim Phillips

Phillips says Homeland Security intercepted at least one counterfeit gold shipment that was headed for Arnoldi’s home. Arnoldi had also been arrested again, the day after his arraignment, for allegedly making more transactions. Several victims say they lost over 175-thousand dollars each. Meanwhile, Arnoldi’s common law wife, Shara Daly, also reached a plea agreement. Among the charges she pleaded guilty to was welfare fraud…

click to listen to Jim Phillips

Daly has been sentenced to six months in jail and probation. Phillips says Arnoldi could also reduce his sentence a year for each time he pays 100-thousand dollars in restitution. But he says he doesn’t expect victims to get any money back.