Michigan Businessman Accused of Defrauding Customers to Fuel Gambling Spree

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Bay City, Michigan-based coins, jewelry and precious metals dealer David Rutter faces charges of defrauding his clients to support his gambling habit.

52-year-old Matthew Joseph Burton stands accused of engaging in deceptive practices at both of his establishments: Flying Eagle Coins in Bay City and Jack of All Trades in Mt Pleasant. These violations included failing to fulfill purchase agreements at these businesses.

Burton reportedly took large sums from customers with promises of precious metals in return, yet never delivered on these commitments. Instead, court documents show he used these funds for gambling at Soaring Eagle Casino in Mt Pleasant; court records reveal he spent well over $5 Million gambling there!

Unfulfilled Promises

An investigation of Burton’s activities began in January 2023 after reports surfaced of him accepting $127K from one customer for precious metals but then failing to deliver them, leading him to flee state for over one year before returning with partial fulfillment only of orders from multiple other individuals – among these one 72 year-old man paid $20K but only received partial fulfillment for his order from Burton.

Authorities were alerted by Burton’s bizarre behaviour to examine his gambling habits, discovering he was an avid gambler with records showing nearly $1 Million lost through casino Player’s Club reward cards.

The Impact of Burton’s Actions

Burton immediately invested $33K from an elderly victim after receiving $20K as payment and gambled away his earnings over October 2023, showing how heavily dependent upon customer funds his gambling had become.

Burton now faces significant legal obstacles after several individuals came forward alleging bad checks or failing to deliver promised goods, with claims totalling from $1.4K to $60K being filed by them against her.

He will soon appear before district courts across Isabella and Bay counties for preliminary hearings, where his most serious charges could incur up to 20-year jail sentences.

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