Cash-For-Gold sting targets Somerset County shops - MyFoxAustin.com | KTBC Fox 7 | News, Weather, Sports

Cash-For-Gold sting targets Somerset County shops

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SOMERVILLE, N.J. (AP) - Authorities have filed charges following a sting that targeted cash-for-gold dealers in Somerset County.

Undercover investigators wanted to determine whether jewelers were following state laws that seek to prevent the sale of stolen goods and to protect often vulnerable consumers who are selling their precious metals.

The owner of Cash4Gold/Wireless Source in Franklin Township is charged with receiving stolen property and attempted receipt of stolen property. The owner of Khalaf Jewelry in Bound Brook is accused of conducting unlawful credit practice after police say he attempted to pawn a gold item at an annual interest rate exceeding 300 percent.

Four shops are accused of failing to comply with New Jersey's cash-for-gold consumer protection laws.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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