Pawn shop license revoked after investigation

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Posted: Monday, June 2, 2014 10:26 am

SARASOTA, Fla. -- Authorities have shut down a Sarasota pawn shop and revoked the license of the owner after an investigation revealed that he knowingly brought in stolen property from an organized crime ring.

Jim's Pawn on S. Tamiami Trail just off Stickney Point Road in Sarasota is the first pawn shop ever shut down by the Florida Department of Agriculture and Consumer Services.

Jim Smith's pawnbroker's license was suspended last month during the investigation.

The Department says it typically tries to work with owners to bring the business into compliance, but said “in this case shutting down was necessary” due to the egregious nature of the activities uncovered by the Sarasota County Sheriff’s Office investigation.

ABC 7's Bobeth Yates will have more on this story tonight on ABC 7 News at 5 & 6.

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