Jeweler's sentance for tax fraud delayed

A local jeweler who robbed taxpayers to the tune of $500,000 will not be behind bars for another month.

In May Kenneth Gaipa, 43, the owner of Kenneth G. Rare Coins was sentenced to 24 months in federal prison for three counts of tax evasion, social security fraud and bankruptcy fraud.

Gaipa was scheduled to report to prison Thursday morning to begin serving that sentence, but his attorney filed a motion to postpone his surrender date to July 30.

A judge approved the delay earlier this week to allow Gaipa extra time to get his business in working order.

Following his prison term, Gaipa will undergo two years of supervised release.

He will also need to pay a $30,000 fine in addition to $315,000 in interest and other penalties he has incurred.

Gaipa was also facing state charges separate from the federal offenses.

He pleaded guilty to theft two weeks ago and was ordered to pay nearly $5,500 in restitution.


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