PITTSBURGH - A Butler County man faces up to 30 years in prison after pleading guilty Thursday to stealing nearly $300,000 and a new Jaguar from an Allegheny County businessman.

Kirk Mechlin, 55, of 123 Fox Trot Drive, Adams Township, used the stolen money to buy and sell hundreds of gold coins he later sold at a profit, federal prosecutors said.

Mechlin entered his guilty plea to a charge of mail fraud before U.S. District Judge William Standish, who will sentence the defendant July 13.

Prosecutors said Mechlin in 2002 broke into the office of a Monroeville businessman and stole his PNC Bank statements for an individual retirement account and money market account. He also took keys for the businessman's Jaguar.

Mechlin later transferred $296,694 from the IRA account to the money market account, and rented office space in the businessman's name at an industrial park, said Assistant U.S. Attorney Michael Leo Ivory.

The defendant some time later used the money market account to buy 910 gold coins from out-of-state coin dealers. The 1-ounce gold bullion coins were shipped to the industrial park address.

Prosecutors said between September 2002 and March 2004, Mechlin sold 900 of the coins through an out-of-state coin dealer he had hired under a brokerage agreement. Checks from the sale of the coins were mailed to Mechlin's home.

During the sale of the coins, Mechlin admitted he stole the businessman's 2002 Jaguar in March 2003 and hid it at a Cranberry Township storage facility.

U.S. Postal inspectors in November searched Mechlin's home and found the businessman's bank records and other documents as well as 10 unsold gold coins. The stolen Jaguar was also recovered.

Prosecutors said in addition to a maximum 30-year prison sentence, Mechlin could be fined up to $1 million.

A telephone message left at Mechlin's home this morning was not immediately returned.