Jewellers find all that glisters is not gold in lead scam

A jewellers’ store in Limerick discovered Shakespeare knew what he was talking about when he penned the words: “All that glisters is not gold.”

Two Eastern European men entered Matthew Stephens Jewellers on O’Connell St in Limerick and dropped in 15 items of gold to have them valued.

The pair said they would return some days later to collect the jewellery.

However, when staff began to examine the items, which included watches and bracelets, they suspected the 14-carat gold exterior was weighed down with a less precious interior.

It transpired lead had been placed under the gold and gardaí were alerted.

Two men from Moldova, in possession of Romanian and Lithuanian papers, were arrested and appeared yesterday at Limerick District Court.

One man was charged with obtaining money by deception.

It is alleged Oleg Boldescu, aged 29, with an address in Co Kildare, received €1,650 for an item which turned out to be more lead than gold.

He was also charged with possession of overvalued jewellery at Matthew Stephens with the intention to cause loss or make gain by deception.

The second accused, Igor Frunza, aged 41, of no fixed abode within the State, was charged with possession of the overvalued gold at Matthew Stephens with the intention to cause loss or make gain by deception.

Sergeant Donal Cronin said the State was objecting to bail.

Garda Joe Cusack gave evidence of the allegations and claimed that both men were flight risks as they had no ties to the State.

Judge Marian O’Leary remanded Mr Boldescu in custody to Tuesday’s sitting of the court so that his identify can be verified.

Mr Frunza was remanded in custody with consent to bail on condition that cash of €1,200 is lodged in court.

He also has to sign on twice daily at a named garda station.