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Friday, March 29, 2024

N.J. cracks down on cash-for-gold businesses

Johnhoffman

New Jersey Acting Attorney General John Hoffmann | New Jersey Attorney General's Office

Multiple New Jersey stores that paid cash for gold received approximately 10,000 citations for alleged civil violations of the state's consumer protection laws, Acting Attorney General John Hoffman announced on Thursday.

The citations were given to 71 jewelry stores, pawn shops and other businesses in the New Jersey towns of Camden, Irvington, Newark, Paterson and Trenton. 

In addition to the citations, the state confiscated 35 scales that were used to weigh gold because they allegedly were not approved for cash-for-gold transactions and were not registered with the state's Office of Weights and Measures. 

“This Urban Cash-For-Gold task force covered northern, central and southern New Jersey, to ensure all consumers are protected when they sell their jewelry,” Hoffman said.  “The fact that our officers confiscated the scales used in nearly half of these stores demonstrates the great need to ensure these consumers are not cheated.”

The citations followed an undercover operation and unannounced inspections at the stores in October. 

“Our priority is to protect the consumers of New Jersey, wherever they are, whether they are in urban areas, the suburbs, or other parts of our state,”  Division of Consumer Affairs Acting Director Steve Lee said.  “With this crackdown, we’re making sure that we protect consumers living and working in urban communities, like Newark, Trenton and Camden, from cash-for-gold businesses that are allegedly violating the law.  We will continue to conduct enforcement actions in, and bring our consumer education efforts to, New Jersey’s cities.”

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