Gold buying business shut down with arrest of owner

A local business owner sits behind bars tonight following his arrest on multiple charges including Illegal possession of stolen things. 

Stanley Siler, 49, owner of the Gold and Silver Money Tree on East 70^th in Shreveport, was arrested on charges of illegal possession of stolen things and Disposal/changing identity prohibited during 30-day period.

The suspect in the thefts, 20-year-old Jordan Young of Shreveport, was arrested for felony theft and booked into the Shreveport City Jail.

     Shreveport Police Detectives with the Pawn Shop Division were notified in reference to a report filed by the victim earlier this month after noticing several pieces of her jewelry were missing from her home. 

  An investigation was launched, which soon revealed that the jewelry items had been stolen by a family member who redeemed the jewelry for cash at Siler's business.  

  It then was learned that Siler conducted numerous business transactions involving Young over the past few months, with the most of the items belonging to the victim. 

  Further investigation into the business practices of Siler revealed he was in violation of the state laws that regulate the disposal or changing the identity of items received by a second hand dealer, requiring a mandatory 30-day-hold period. 

It was learned that Siler readily had items "smelted" down while he received the cash in return for the stolen property without adhering to applicable state laws. 

    In an effort of good faith, Siler agreed to return the remaining portion of the victims stolen items; however, he secretly attempted to replace the victims' items with ones similar appearance, knowing that the items had already been destroyed. 

Siler's business remains closed at this hour. The victim's loss amounted to several thousand dollars.