Local precious metals dealer Greg Arnoldi back in jail held on 1,000,000 dollar bail. Nevada County District Attorney Cliff Newell says Arnoldi, owner of Grass Valley Gold and Silver, had made his 100,000 dollar bail following an arraignment Wednesday for possessing and selling counterfeit gold. According to the District Attorney, Arnoldi went right back to business after getting out.
Newell says when news of Arnoldi’s arraignment was released on Wednesday more victims came forward.
Newell says new information added silver to the list of counterfeit metals.
District Attorney Newell is asking anyone that may have additional information about possible fraudulent transaction contact this office or the Grass Valley police.