Covering Louisiana

Feb 20, 2014 9:46 AM by AP (Photo courtesy MGN Online)

Gold buyer accused of improper record keeping

Authorities have arrested a Tangipahoa Parish gold buyer accused of failing to properly report purchases at his stores in Hammond and Amite.
Sheriff's deputies say 62-year-old John W. Davis, owner of Gold Buyer LLC, was booked Tuesday on more than 30 counts related to improper record keeping of secondhand metal purchases.
The Advocate reports Davis is free on $41,000 bond.
State law requires purchasers of secondhand property, including metals such as gold, silver, copper and brass, to keep a detailed book of the purchases and to take photos of the items purchased.
State law also prevents cash purchases for copper or precious metals. Only checks are allowed for those kinds of buys.
Authorities say Davis was failing to follow those laws.
It was unclear whether he has an attorney.


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