Gold Coins Recovered in Sting Operation

June 22, 2012 – Jackson, Texas police report they have recovered hundreds of thousands of dollars in stolen gold coins and antique currency bills during a sting operation at a local pawn shop Thursday morning.

Torrey L. Davis, 41, and his mother Ozella Davis, 57, are in custody. Each are charged with one count of felony possession of stolen goods. Police are seeking a further suspect, Torrey Davis’ girlfriend, on Thursday for the same charge. Her name has not been released by police at this time.

JPD’s Burglary Division investigators engineered an undercover operation based on information from police in Beaumont, Texas, which related to a grand larceny reported in that town on Tuesday. Deputy Chief Eric Wall said $200,000 in cash and about $500,000 in gold and collectible bills had been reported stolen.

Deputy Chief Wall said the Jackson Police Department works with the area pawnshops in order to investigate crimes of this type, which is what eventually led to the arrests.

Wall said officers waited as Torrey Davis made a transaction in DJ’s Silver Mine around 9 AM. Torrey Davis received a check for almost $10,000 in exchange for a number of coins. He was arrested followed the transaction.

Multiple search warrants were then served, including one at the home of Ozella Davis, where she was arrested.

Another search warrant led to the discovery of 166 various gold coins worth about $95,000, Wall said.

Police are also following up on other possible transactions that Torrey Davis may have conducted at area pawnshops with the possibility of additional arrests. Information led police to safety deposit boxes at a local bank.

“The search warrant that we’re serving right now at a local bank where we found that safety deposit boxes had been used to probably conceal some of these stolen items,” Wall said during a news conference on Thursday.

Police found two safety deposit boxes with a large sum of gold coins and cash. Police also expect to find more.

Wall said that Torrey Davis’s girlfriend is linked to the theft victim in Texas. Police have not released the victim’s name at this time.

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