Three Brooklyn jewelry stores and their presidents were indicted this week for sales tax violations, the Brooklyn DA’s office said in a news release. In addition, three other stores pled guilty to sales tax-related charges.

 

According to the statement, investigators visited 27 jewelry stores in Brooklyn. At 17 of them, investigators were allegedly told that the store would not charge them the required sales tax if they paid for the items by using cash instead of credit cards. The statement added: “The investigation continues and additional arrests are likely.”

 

The investigation, termed “Operation Bracelet,” is being conducted jointly by Kings County District Attorney’s Office and the New York State Department of Taxation and Finance. 

 

Golden Art Fine Jewelers, Crystal Sparkse, and Pavillion Jewelers were all indicted for allegedly underreporting their taxable sales, according to a news release.

 

There were three other “Operation Bracelet” cases in which jewelry stores and their presidents pled guilty and received conditional discharges after an investigation determined that their reported taxable sales were significantly less than what they had in their own books.   

 

Seville Jewelers, C & S Jewelers, and Valentino Jewelers all pled guilty to Offering a False Instrument for Filing in the Second Degree and remitted the unpaid sales taxes to the city and state of New York.

 

Follow JCK on Instagram: @jckmagazine
Follow JCK on Twitter: @jckmagazine
Follow JCK on Facebook: @jckmagazine