Shreveport business closes store after arrest - KSLA News 12 Shreveport, Louisiana News Weather & Sports

Shreveport business closes store after arrest

Stanley Siler (Source: Shreveport Police Department) Stanley Siler (Source: Shreveport Police Department)
Jordan Young, 21(Source: Shreveport Police Department) Jordan Young, 21(Source: Shreveport Police Department)
SHREVEPORT, LA (KSLA) -

The owner of Gold and Silver Money Tree in Shreveport faces two criminal charges, including illegal possession of stolen things.

A Shreveport woman found out some of her jewelry was missing and told police she believed one of her relatives had taken it.

Police got that relative's name, and found out she'd sold the jewelry to Gold and Silver Money Tree.

"During the investigation, it was learned that the owner of this business was melting down the items that were brought in to him prior to the 30 day mandatory stay that these items are to be held by the vendor," says Cpl. Marcus Hines with the Shreveport Police Department.

Police charged the owner, Stanley Siler, with illegal possession of stolen things. He allegedly bought the gold from 21-year-old Jordan Young. She's charged with felony theft.

"She was arrested for taking the items without permission and handing these items over to the vendor. And she did receive a monetary amount in exchange for bringing those items in," Hines says.

Anyone who buys gold is required to fill out a form and put the seller's name and information, and what they sold, into a national database that law enforcement can check for stolen jewelry like in this case.

Siler also faces a charge for not holding on to the jewelry for the required amount of time before melting it.

"We have to hold this at least 30 days," says owner of Louisiana Coin and Jewelry Paul Pons. "So we hold it 30 days and at that point, it's considered fair game."

Police say Siler was getting rid of gold the day he bought it.

Pons says it's nearly impossible to know right off that someone is trying to sell stolen jewelry.

"Occasionally I'm sure things come through here that maybe don't rightfully belong to them. If it does, police have a record of what it is, and they may come by and pick it up."

Siler also owns Gold and Silver Money Tree in Bossier City, and he has several other stores in Texas.

Police add that once they asked him about the stolen jewelry, he put some in a bag and tried to pass it off as the gold he allegedly bought from Young.

Copyright 2012 KSLA. All rights reserved.

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