A Louisiana jeweler has been arrested after investigators accused him of stealing thousands of dollars from customers who trusted him to sell their valuable jewelry, watches, and coins.
Authorities say several victims, including elderly customers, handed over expensive items expecting payment after sales were completed. Instead, police claim the customers either received bad checks or no money at all.
Louisiana Jeweler Arrested in Alleged Theft Scheme
Jefferson Parish investigators arrested 71-year-old Ira Savoie this week in connection with multiple theft and fraud allegations involving his jewelry business.
According to the Jefferson Parish Sheriff’s Office, Savoie faces several criminal charges, including felony theft, bank fraud, and exploitation of the elderly.
Authorities said Savoie owns Savoie Fine Jewelry, an appraisal and consulting company located in Metairie, Louisiana.
Investigators believe at least three customers trusted him to help sell valuable items before allegedly losing nearly $40,000.
| Case Details | Information |
|---|---|
| Accused | Ira Savoie |
| Age | 71 years |
| Business | Savoie Fine Jewelry |
| Location | Metairie, Louisiana |
| Alleged Losses | Nearly $40,000 |
| Main Charges | Theft, bank fraud, exploitation |
| Jail Location | Jefferson Parish Correctional Center |
Elderly Woman Allegedly Given Bad Check
According to investigators, one of the victims was a 74-year-old woman who brought five gold coins to Savoie in August for appraisal and sale.
Authorities said Savoie later told the woman he had sold the coins for more than $20,000 and provided her with a check.
However, when she attempted to cash the check, investigators said the bank account reportedly did not contain enough money.
Police believe the woman never received payment for the sale of her coins.
Another Customer Never Received Payment for Diamond Ring
A second victim, a 61-year-old man, reportedly trusted Savoie with a diamond ring and a gold pocket watch.
According to deputies, Savoie claimed he sold the ring for $10,500. Later, he allegedly told the customer the payment check had been lost during delivery.
The victim informed investigators he never received any money connected to the ring sale.
Authorities later recovered the pocket watch during a search of Savoie’s business on Causeway Boulevard.
Rolex Watch and Bracelet Also Reportedly Missing
Investigators said a third victim gave Savoie a Rolex watch and a gold bracelet worth approximately $7,400.
According to police, that customer also reported never receiving payment after trusting Savoie to sell the valuables.
Authorities believe there may be additional victims connected to the investigation.
Detectives first arrested Savoie on April 25 and later added more charges as new complaints surfaced.
Police Believe Jeweler May Have Been Scammed Himself
Investigators said they suspect Savoie may also have become involved in a separate scam involving gift cards.
According to authorities, Savoie allegedly used money from the jewelry sales in an attempt to buy gift cards from an unidentified person.
Police believe the person behind the gift card operation may have scammed Savoie and taken the money.
However, investigators stated that the exact details of the alleged scheme remain unclear as the investigation continues.
Elder Exploitation Charges Added
Authorities added exploitation charges because some of the alleged victims were elderly.
Under Louisiana law, financially exploiting people aged 60 or older is considered a criminal offence.
Police said the investigation remains active and additional victims or charges could still emerge.
Ira Savoie Remains in Jail
As of the latest reports, Ira Savoie was being held at the Jefferson Parish Correctional Center in Gretna.
Authorities set his bond at $85,000.
Investigators continue reviewing evidence and speaking with potential victims connected to the jewelry business.
