Jewelry Store Owner Accused of Selling Stolen and Counterfeit Merchandise

By Staff

Muhammad Fayyaz, owner of Gold Valley, a jewelry store on the second floor of Hanes Mall, was arrested May 15th following an investigation which began in 2009.  Fayyaz is charged with multiple felonies related to the sale of stolen and counterfeit merchandise and the purchase of an “elicit credit card.”

muhammad fayyaz

muhammad fayyaz

According to the WSPD, they had been investigating multiple reports of stolen credit cards being used to purchase jewelry at Gold Valley.  As a result of the investigation, a search warrant was obtained for Gold Valley.  On May 15th, the search warrant was executed and Investigators located evidence to support charges against Mr. Fayyaz.

During the execution of the search warrant, one electronic device (Ipad) and several school class rings found in the business were determined to be stolen. The entire inventory of Gold Valley was seized as evidence during the search. It has since been confirmed that some of the items marked “10K” and “14K gold” are in fact counterfeit. The sale of counterfeit merchandise by Mr. Fayyaz is also being investigated.

Further investigation has indicated that Mr. Fayyaz has also been acting as a “fence,” or dealer of stolen jewelry and electronics. Detectives are investigating this claim and may make additional charges if applicable in the near future.

Muhammad Fayyaz was arrested without incident,  taken to the Forsyth County Detention Center and charged with five felony counts of obtaining property by false pretenses and one felony count of purchasing an elicit credit card, related to the stolen credit cards. He was given a $5,000 bond and a preliminary hearing date of June 5, 2014.

Anyone with information about these crimes is asked to contact Crime Stoppers at 336/727-2800.