VERO BEACH, Fla. — A 23-year-old Vero Beach man has been arrested after the police department received several complaints of someone selling and trading counterfeit precious metals to individuals and local businesses.
Investigators tracked the complaints to Addison Raymond Cravenho, who is accused of selling gold and silver from a local business. Cravenho, who is facing felony charges of organized fraud over $20,000 and scheme to fraud as well as drug possession, was taken to the Indian River County Jail on Saturday and shortly later posted $70,000 bond
Investigators allege Cravenho would travel to conduct these fraudulent sales. Some of the precious metals were legitimate; though most were fake, police said.
A local business that had been victimized by Cravenho assisted police. The business arranged for a transaction to purchase more gold from him. When Cravenho arrived, he was apprehended and placed into custody without incident.
At the time of his arrest, police said Cravenho had in his possession a box that contained approximately 14 ounces of counterfeit gold. And after a search warrant was obtained and executed on Cravenho’s vehicle, investigators recovered Hydrocodone and Xanax pills, cocaine and a loaded .45 caliber handgun.
The Vero Beach Police Department recommends those who have recently purchased gold and/or silver from Addison Cravenho to have it verified by a jeweler. If you suspect you may be a victim within the Vero Beach city limits, contact Detective Eduardo Somoza at 772-978-4661.
