Jefferson Parish Sheriff’s Office investigators arrested a Metairie jeweler who they say stole almost $40,000 from customers who asked him to help sell their jewelry, watches, and coins.
Ira Savoie, 71, of Old Jefferson, was arrested this week on four counts of felony larceny ranging from $5,000 to $24,999, two counts of bank fraud, and one case of elder exploitation, according to Sheriff’s Office spokesperson Sgt. Brandon Veal.
Savoie is the owner of Savoie Fine Jewelry, an evaluation and consultancy firm based in Metairie. Authorities say at least three victims brought valuables to Savoie, who was intended to function as an intermediary in the sale of the items.
In one instance, a 74-year-old woman gave him five gold pieces in late August to appraise and sell. According to Veal, Savoie informed the woman that he sold the coins for $20,526 and issued her a check.
Veal stated that when she went to cash the check, there were insufficient funds in the account.
Another victim, aged 61, brought Savoie a diamond ring and a gold pocket watch. According to Veal, Savoie informed the man that he sold the ring for $10,500 but later claimed that the cheque was misplaced during transportation.
The victim told deputies that he never received any payment for the ring. Deputies say they found the pocket watch when they investigated Savoie’s Causeway Boulevard business.
A third victim offered Savoie a Rolex watch and a gold nugget bracelet valued $7,400. Authorities said she, too, had reported receiving no money from Savoie.
Detectives detained Savoie on April 25 and continued to rebook him on additional offenses as they discovered more victims.
According to Veal, he is facing an exploitation accusation due of the victims’ ages. Under Louisiana law, it is prohibited to financially exploit an elderly person, defined as someone 60 or over.
Sheriff’s Office investigators believe Savoie was duped out of the money he earned when selling the items. According to Veal, Savoie used the funds from the sales to try to buy gift cards from an unidentified person in order to supplement his income.
It’s unclear how the gift card scheme was supposed to work, but police suspect whomever was behind it was a scammer who duped Savoie out of money.
On Wednesday, Savoie was being held at the Jefferson Parish Correctional Center in Gretna. The bail was set at $85,000.
The instances are still being investigated.
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