St. Louis Business Journal / November 17, 2015
Missouri Attorney General Chris Koster said Tuesday his office has obtained a preliminary injunction prohibiting a St. Louis gold business from altering or re-selling precious metals within five working days of purchase.
The order, from St. Louis Circuit Court Judge David Dowd, requires Missouri Gold Buyers LLC and its owner, Michael Duke, to produce copies of their transaction records to law enforcement upon request and to inform law enforcement if they have any reason to believe precious metals have been obtained illegally by a seller.
The attorney general’s office in September sued Duke. The suit will continue to make its way through the court.
Dowd found that Duke and his business violated Missouri law by failing to retain purchased precious metals in an unaltered condition for at least five working days and by refusing to make records of purchases available to law enforcement upon request.
“This preliminary injunction means that Missouri Gold Buyers must comply with the law so law enforcement agencies can attempt to recover jewelry and other items stolen from consumers and re-sold to Missouri Gold Buyers,” Koster said in a statement. “These items often possess sentimental value greater than their mere dollar value, and we are pleased that Missouri Gold Buyers will have to follow state law while this case proceeds toward trial.”