Lady sells 500 bogus 1 oz. silver bars to La. Dealer

[WoodenJefferson]

~story here~

 

BOSSIER PARISH, LA (KSLA) -

 

The Bossier Financial Crimes Task Force and Bossier Crime Stoppers have identified one of two suspects they are seeking in connection with the alleged sale of bogus gold and silver bars to two local businesses.

 

Police had been looking for the suspects in two separate incidents. The first occurred on June 21 and involved a woman who sold more than 500 bars of what she claimed were each one ounce of silver to a local business for nearly $6,500. Police say the suspect in the first case was caught on a bank security camera cashing the check that she received for payment.

 

Police say the woman was caught on a bank security camera cashing the check that she received for payment.

 

On Thursday, police said they were able to identify that woman as Monique Marie Reyna of Corpus Christi, Texas from evidence they obtained in the course of the investigation and are in contact with Texas authorities in an effort to locate her. She faces charges of felony theft by fraud.

 

Police are still searching for the man who sold three bogus 12-ounce gold bars to a Bossier City business for $4,000 on July 10. His image was captured on a security camera at the business.

 

In both cases, police say each buyer made initial assessments that indicated the bars were legitimate and made the purchase, nearly $6,500 for the silver and $4,000 for the gold. However subsequent inspections found the bars contained mostly other metals including zinc and copper.

 

Investigators say there's nothing at this point to indicate that the incidents are connected.

 

Anyone who can help police locate either suspect is asked to call Bossier Crime Stoppers at (318) 424-4100. Callers to Crime Stoppers are reminded they may remain totally anonymous and could be eligible for a cash reward for information that leads to an arrest.

 

The Bossier Financial Crimes Task Force is composed of white collar crime investigators with the Bossier City Police Department and Bossier Parish Sheriff's Office.

 

Bossier City Chief of Police Shane McWilliams and Bossier Parish Sheriff Julian Whittington formed the task force by combining resources from both agencies to combat crimes such as identity theft, fraud and embezzlement with the city and parish.

[ldhair]

"sold three bogus 12-ounce gold bars to a Bossier City business for $4,000"

This part don't sound right. That's a lot of gold for $4000.

[Raisethis2]

Sounds like the "business" was so eager to rip her off they forgot to do due dilligence. Oh well. She'll probably claim she thought they were legit. Then the cops would have to prove she made them to pursue this IMO.

[bsshog40]

I work in Bossier city. I seen this on the news the other night. The silver and gold were all counterfeit. I'm sure the business got ripped on the gold because they thought they were getting a steal at $4,000. Not sure how much gold it was though.

[e1cnr]

$111/oz paid for gold

$13/oz paid for silver

 

I thought the cash for gold guys paid 20%, this place paid less than 9%

 

they should be calling the cops after every purchase

[johnny9434]

what a vicious cycle in my opinion. im glad im just reading it.

[Coindude]

Sounds like everyone involved should be arrested for ripping people off!

[cladking]

Let's see. The woman ripped off the dealer for nearly $4,000 as the dealer was trying to rip her off for $42,000.

 

As far as I'm concerned the dealer should get more time than the other thief.

 

The silver buyer appears to have had larceny in his heart as well.

 

 

[gmarguli]

Let's see. The woman ripped off the dealer for nearly $4,000 as the dealer was trying to rip her off for $42,000.

 

As far as I'm concerned the dealer should get more time than the other thief.

 

If I were on the jury, I'd have a hard time convicting. $4000 for something worth $48000? I'd assume the dealer suspected it wasn't 100% pure and priced it accordingly and made a bad business decision.

 

The silver buyer appears to have had larceny in his heart as well.

 

The silver price isn't horribly out of line. How low did silver go recently, $17? If so, I can see a dealer fearful of a continued drop in price and if they aren't well known bars he prices them even lower. $13/ounce could have been a fair price given the bar manufacturer and the dealers fear of the crashing metals market.

 

[bsshog40]

Well there are some pretty shady characters here in Shreveport/Bossier City. Both the gold and silver were counterfeit to begin with. If they were real, I'm sure they would have known the value before trying to sell. They may have offered them for the price, and the buyers, of course, jumped on it.

[PerryHall]

Let's see. The woman ripped off the dealer for nearly $4,000 as the dealer was trying to rip her off for $42,000.

 

As far as I'm concerned the dealer should get more time than the other thief.

 

The silver buyer appears to have had larceny in his heart as well.

 

 

In literature, this would be called poetic justice.

[WoodenJefferson]

I can see a couple of dozen faked silver bars, but 500! Somebody, somewhere is into this operation pretty heavy.

[tenacious]

Let's see. The woman ripped off the dealer for nearly $4,000 as the dealer was trying to rip her off for $42,000.

 

As far as I'm concerned the dealer should get more time than the other thief.

 

Agreed. And well said.

Two thieves trying to rip each other off. Priceless!

 

I wonder if it will come out in the news how much the business should have paid assuming the bars were real. It would be good for the community to know what kind of business they have in their town. And to stay away.

[Jim Beam]

"The Bossier Financial Crimes Task Force is composed of white collar crime investigators with the Bossier City Police Department and Bossier Parish Sheriff's Office."

 

Looks like they got their best men on it - all white collar!

[World Colonial]

Let's see. The woman ripped off the dealer for nearly $4,000 as the dealer was trying to rip her off for $42,000.

 

As far as I'm concerned the dealer should get more time than the other thief.

 

The silver buyer appears to have had larceny in his heart as well.

 

 

I tend to agree with you. One slimeball being ripped-off by another one.

[MarkFeld]

Let's see. The woman ripped off the dealer for nearly $4,000 as the dealer was trying to rip her off for $42,000.

 

As far as I'm concerned the dealer should get more time than the other thief.

 

The silver buyer appears to have had larceny in his heart as well.

 

 

I tend to agree with you. One slimeball being ripped-off by another one.

 

Possibly/probably. But it sounds as if one party broke the law and the other didn't.

[cladking]

If I were on the jury, I'd have a hard time convicting. $4000 for something worth $48000? I'd assume the dealer suspected it wasn't 100% pure and priced it accordingly and made a bad business decision.

 

 

I am being a little harsh but there are so many shady business practices now days from adding water to food to outright theft from customers, employees, or anyone else.

 

It does look like the dealer may have gambled and lost. But, I'd wager he was expecting a big score and was more disappointed than surprised when it didn't materialize. ...And then he called the cops anyway.

 

We have a mindset now days that white collar criminals who steal millions aren't so bad but cons and sneak thieves need lots of time in jail. Some of the white collar criminals are simply promoted when they're caught.

[okbustchaser]

Let's see. The woman ripped off the dealer for nearly $4,000 as the dealer was trying to rip her off for $42,000.

 

As far as I'm concerned the dealer should get more time than the other thief.

 

The silver buyer appears to have had larceny in his heart as well.

 

 

And yet, if an Ebay buyer tries to rip off a "clueless" seller by offering $4000 for a coin that if it were what it was claimed to be would be worth $42000 only the seller is a scumbag. The buyer is innocent as freshly fallen snow--at least to the "nuke this ebay seller" police on this forum.

 

How's that work?

[WoodenJefferson]

As cladking has said, there is so many shady practices out there, we had a convenience store here that had two of their pumps jump. I didn't know what was going on, the price rolled up to .71 cents before it stopped and I hadn't even touched the pump handle, just had the nozzle stuck in the filler hole. After I person_without_enough_empathyed about, they gave me .71 cents and said they would fix it...we'll see about that, but what about the people that don't catch it, or see it but don't think they just got ripped for .71 cents?

 

[okbustchaser]

As cladking has said, there is so many shady practices out there, we had a convenience store here that had two of their pumps jump. I didn't know what was going on, the price rolled up to .71 cents before it stopped and I hadn't even touched the pump handle, just had the nozzle stuck in the filler hole. After I person_without_enough_empathyed about, they gave me .71 cents and said they would fix it...we'll see about that, but what about the people that don't catch it, or see it but don't think they just got ripped for .71 cents?

 

 

That's not a case of a shady C-store. That's a result of the shady customer just before who after he turned off the pump emptied the fuel from the hose into his tank. Then when you next turned the pump on the hose refilled with fuel. The practice was merely irritating when fuel was a dollar a gallon (about 8 cents), but at 4 dollars a gallon it adds up.

[MorganMan]

As cladking has said, there is so many shady practices out there, we had a convenience store here that had two of their pumps jump. I didn't know what was going on, the price rolled up to .71 cents before it stopped and I hadn't even touched the pump handle, just had the nozzle stuck in the filler hole. After I person_without_enough_empathyed about, they gave me .71 cents and said they would fix it...we'll see about that, but what about the people that don't catch it, or see it but don't think they just got ripped for .71 cents?

 

 

 

Your "pump jumping" was caused by "hose drainers".

 

Let me explain. If you pump gas and after you are done, cut the pump off. you can drain the hose by holding the lever down and letting gravity drain the hose. Then, the next customer that comes along will turn on the pump, and the meter will register filling up the hose even before the handle lever is squeezed. Nothing "crooked" at the station.

 

You could use this same line in saying you were cheated because you bought premium, but got a little bit of regular that was in the hose from the last customer.

 

MM

[Barndog]

if the store owner sent them away without a transaction, there would be less "evidence" to convict the sellers of a crime. So maybe the store owner(s) are good guys who wrote a check then called the police so that the police could nail them trying to cash a check and completely fulfill the criminal transaction?

[WoodenJefferson]

As of yet (to the best of my knowledge) she has not been captured. But as with most criminal activity, they will continue nefarious deeds to survive, slip-up and be caught.

 

Thanks for the explanation of 'pump jumping' I shall ponder your response.

[Nutmeg Coin]

I would think that a holding period as required in some cities and states would be an effective measure in preventing the fencing of stolen and bogus items as in this case.

 

At least...."Theeues haue betweene themselues, a truth, And faith, which they keepe firme, by which They doe subsis."("Soddered citizen",1622)

[e1cnr]

I do not understand how a holding period would be an effective measure in sale/purchase of bogus items.

 

I also see how the offer given would be even lower if a mandatory holding period was required.

[Nutmeg Coin]

I do not understand how a holding period would be an effective measure in sale/purchase of bogus items.

 

I also see how the offer given would be even lower if a mandatory holding period was required.

 

Really?

 

Background check on seller by police; an independent review of the "precious metals" items by an associate or another dealer who was not in when the seller came in initially; there are many benefits available with such research. The only options the stung buyers have after counterfeit items have been purchased is the distant hope that the crook will resurface and there will be a law enforcement option at that point.