12 Wayne jewelers accused of violating 'Cash for Gold' laws

Twelve Wayne jewelers have been accused of not complying with consumer laws involving the 'Cash for Gold' program. The accusations come following an undercover investigation in Passaic County. Some of

News 12 Staff

Aug 8, 2012, 1:03 AM

Updated 4,305 days ago

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12 Wayne jewelers accused of violating 'Cash for Gold' laws
Twelve Wayne jewelers have been accused of not complying with consumer laws involving the 'Cash for Gold' program. The accusations come following an undercover investigation in Passaic County.
Some of the violations include failing to use certified scales, not posting the price per ounce they will pay, and failing to get proof of ID from sellers. Some of the accused jewelers say the sting was a witch hunt and that they are not updated on changes to the regulations.
All but one of the jewelers operate in the Wayne Diamond and Jewelry Center and the Jewelry Exchange. Each jeweler is facing up to $2,500 per violation, as well as 90 days in jail or community service.
Consumers who want to trade in their gold are advised to make sure the items are weighed in front of them on a certified scale. Consumers should also make sure to get a receipt for the transaction.
For the full press conference on the jewelers' 'Cash for Gold' violations, click iO Extra on Channel 612.
The Division of Consumer Affairs provides important advice and information for those wishing to sell their precious metals or jewelry via the link below:
Selling Your Precious Metals and Jewelry


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