Wasim Shazad operates three storefronts on the local Jewelers Row
Wasim Shazad, who operates three storefronts on Philadelphia’s Jewelers Row, has been arrested and charged with fencing and other crimes, according to a statement from the Montgomery County district attorney, Kevin Steele.
Shazad (pictured) has been charged with corrupt organizations, dealing in proceeds of unlawful activity, receiving stolen property, and failing to report precious metal transactions, the department said.
Shazad was arrested as part of an investigation into 15 burglaries of high-end residences in the local area. Four other men have since been arrested for those burglaries, which mostly targeted jewelry and high-end purses.
The victims of the thefts suffered a financial loss in excess of $1.5 million, the department said.