Bradenton Coin Dealer Arrested for Allegedly Defrauding Customers of Nearly $300,000

A Bradenton coin dealer has been arrested following accusations of defrauding customers out of nearly $300,000 at the Red Barn Flea Market. According to Manatee County court records, Seth Felipe Lutz, 63, faces multiple grand theft charges after several victims reported paying him significant sums for gold and silver items that were never delivered.

Investigators state that Lutz, operating under the alias "Steve," ran a booth called "Steve's Best Coins" at the Red Barn Flea Market, where he allegedly took payments upfront without fulfilling the promised transactions. In one reported instance, a customer paid nearly $25,000 for gold coins in January 2024 but never received the items despite repeated follow-ups. Another victim reported paying $29,000 for silver bars, only to be met with continued delays and excuses.

Court records show this is not Lutz’s first brush with fraud allegations. He previously served over five years in prison for defrauding coin buyers in Pinellas County, where he scammed dozens of customers out of more than $220,000. Despite being on probation until 2037, investigators allege Lutz resumed similar activities in Manatee County after his release in 2022.

Lutz allegedly used the alias “Steve” to conceal his criminal past from customers, with receipts and business cards reflecting the name "Steve's Best Coins." Detectives confirmed that he previously operated a coin business called “Paradise Coins and Collectibles” in Pinellas County, where he was convicted for similar offenses.

The Manatee County Sheriff’s Office arrested Lutz on December 26, and he remains held at the Manatee County Jail on a $52,500 bond. He is facing three counts of grand theft and has pleaded not guilty to all charges. His legal proceedings remain ongoing.