Dayton man found guilty on sixteen counts in investment scam

Robert Lantz, 73, was found guilty after a trial in U.S. District Court here last week.

The jury also found that about $160,000 of the proceeds from Lantz's crimes should be forfeited to the federal government.

Ron Meseberg, U.S. Customs Service supervising resident agent, said Lantz was involved in a scheme to defraud domestic and foreign investors by using so-called negotiable warehouse receipts for non-existent gold ore bars.

"International business people who were in the market, particularly from Europe and Asia, lost a significant amount to Lantz," he said.

Lantz conducted business under the name Sierra Bonded Warehouse Inc. in Wadsworth, where he claimed to be keeping more than $600 million in gold, Meseberg said.

Lantz forged U.S. Treasury Department documents certifying the gold existed, then leased the certificates to investors for substantial monthly payments.

Lantz faces up to four years in prison when he's sentenced in June.

The conviction capped a nearly six-year investigation by federal agents.

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