York County DA charges 2 precious metals dealers with failure to comply with state transaction reporting statutes
YORK COUNTY — A pair of York County precious metals dealers have been charged after failing to maintain compliance with rules governing the reporting of transactions to authorities, according to the York County District Attorney’s Office.
James Zimmerman, of Zimmerman Jewelers, and Dennis Steinmetz, of Steinmetz Coins and Currency, were both charged on July 2 after months of investigations and compliance meetings, York County District Attorney Dave Sunday said in a press release.
Pennsylvania statute 73 P.S. §1933 (c) mandates that “A copy of every record of transaction shall be delivered or mailed to the district attorney of the county in which a purchase of precious metals is made by the close of the next working day after the day on which the metal is purchased,” Sunday’s office said in a press release.
Both owners were contacted by authorities on January 15, Sunday said. They were told they were out of compliance with the statute and were advised to return to compliance.
But, Sunday said, from February 1 to current, Zimmerman Jewelers had a 37 percent compliance rate, while Steinmetz Coins and Currency had a compliance rate of 17 percent.
In an effort to streamline the reporting process for precious metals purchases, York County District Attorney’s Office created a web-based reporting system, the press release states. Over the last two years, more than 50 precious metals dealers who use the site maintained a compliance rate of 94 percent.
“It is the legal obligation of every precious metal dealer in the Commonwealth of Pennsylvania to provide this information to their jurisdiction’s District Attorney,” Sunday said. “Data from this website has proven to be an invaluable tool, aiding municipal law enforcement officers in solving drug and property crimes, and helping to reunite stolen items with their rightful owners.”