Coin trove not enough to cover losses

ST. LOUIS, Dec. 29 (UPI) -- Thousands of gold and silver coins found in the home of a St. Louis-area banker won't be enough to cover losses claimed by his investors, an attorney says.

Stacks of coins found in the basement of Town and Country, Mo., banker Donald Weir are estimated to be worth $2 million, but a lawyer for Weir's employer, HFI Securities Inc., said they won't cover the $13 million in losses claimed by his investors, the St. Louis Post-Dispatch reported Monday.

Attorney Albert Watkins told the newspaper federal investigators are attempting to return those coins for which owners can be identified. Weir's wife discovered the coins on Sept. 10. The couple was separated and the banker was living in St. Charles County, Mo., at the time, the newspaper said.

No charges have been filed, but an investigation is ongoing, the Post-Dispatch reported.

Investors were allegedly told by Weir they had been earning huge profits on their money, Watkins said, adding, "In many people's minds, the amount they've lost is well more than the amount invested."

The Donald Weir mentioned in this item isn't the Donald A. Weir, who goes by "Don" and who also works for a financial company near Chesterfield, Mo.