"Since June of 2009 Investigators with the Winston Salem Police Department have been investigating multiple reports of stolen credit cards being used at Gold Valley to purchase jewelry.
A search warrant was obtained for Gold Valley and executed on 05/15/2014. Investigators located evidence to support charges against the owner, Muhammad Fayyaz. Muhammad Fayyaz was arrested without incident, taken to the Forsyth County Detention Center and charged with 5 felony counts of Obtaining Property by False Pretenses, and 1 felony count of Purchasing an Elicit Credit Card, related to the stolen credit cards. He was given a $5,000.00 bond and a Preliminary Hearing date of 06/05/2014.
Further investigation has indicated that Mr. Fayyaz has also been acting as a “fence” or dealer of stolen jewelry and electronics. Detectives are investigating this claim and may make additional charges if applicable in the near future. During the execution of the search warrant, one electronic device (Ipad) and several school class rings found in the business were determined to be stolen. The entire inventory of Gold Valley was seized as evidence during the search on 05/15/2014.It has since been confirmed that some of the items marked 10K and 14K gold are in fact counterfeit. The sale of counterfeit merchandise by Mr. Fayyaz is also being investigated."