Yes, the incident was reported. The forum member is a guy named Art Ralston who went by the moniker Orion27 here on the forum. He has not been on the forum since November of last year. He is a teacher in New York.
As a warning to others, I made the GRIEVEOUS error of sending my papyment as "Friends and Family" via PayPal. As such, I have no recourse through PayPal as they pointedly state that this type of payment is not for buying and selling. I spoke to my brother who is an attorney about going after the guy in small claims court, and he said that even if I were able to get a judgment, the fact that i was attempting to purchase known stolen property would probably not go in my favor.
24th Infantry can coroborate my story as I was the one who warned him of the medal no longer being in his possession and advising him to contact the police. My desire in this whole thing was only to try to get the medal back to 24th Infantry. It only cost me $500 to get nowhere in the deal.