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Kenneth G. Rare Coins founder charged with diamond ring theft

MISHAWAKA, Ind. -- A Mishawaka businessman is facing some serious charges.

Forty-two-year-old Kenneth Gaipa owner of Kenneth G. Rare Coins was charged with theft in connection with a stolen diamond ring.

Police say Gaipa bought the ring for $350 from Bernard Batey, thousands of dollars below its appraisal value.

That ring was reported stolen in August. Gaipa was also charged with welfare and Medicaid fraud in a separate investigation.

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