Coin company seeks to enter final judgment

David Yates Jan. 19, 2013, 1:13pm

A company recently filed a motion for entry of final judgment against several defendants. 

In November 2007, the Record reported on a suit filed by Austin-based U.S. Money Reserve Inc., in which the company sought a temporary and permanent injunction against a band of former employees who formed their own coin company by allegedly stealing the company’s consumer accounts.

Court records show defendants Kimberly Scott, Keith Byer and Blue Water Gold were served from the case.

On Jan. 8 the plaintiff filed a motion for entry of judgment against the severed defendants, stating that during a May 25 hearing the parties read into the record a Rule 11 agreement to enter a final judgment permanent injunction resolving all matters, court records show.

A hearing on the motion was slated to be heard on Jan. 14 in Judge Bob Wortham’s 58th Judicial District, but was canceled.

In its original suit U.S. Money Reserve, also known as United States Rare Coin & Bullion Reserve (USRCB), named as defendants Cecil Roberts, doing business as United States Money Exchange; Jason Braquet and Ed Seymour, doing business as JTB Coins; Chad Poole, Terry Fendley and Bill Truman.

According to the plaintiff’s petition, on Oct. 17, 2007, Braquet, a former USRCB employee, left the company to work with other former employees “to divert sales of coins from numerous customers of plaintiff.”

“Instead of making an honest living, these defendants were literally stealing the business of plaintiff, as well as stealing credit card information from plaintiff’s customers, all in violation of criminal statutes,” the suit said. “The defendants have acted as a joint enterprise…”

The company is represented by attorney John Werner of the Beaumont law firm Reaud, Morgan & Quinn.

Trial case No. A180-741-c

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