STATESVILLE, N.C. -- A local jeweler is accused purchasing stolen property and precious metals without identifying the seller.

The Iredell County Sheriff's Office said they charged 53-year-old Philip Bruce Razor with possession of stolen firearms, precious metal violations of failing to obtain identification upon purchasing precious metals and trafficking in schedule IV controlled substances.

Razor, the owner of North Carolina Gold and Diamond Exchange, also faces several other charges related to this investigation.

Detectives conducted several undercover operations in which jewelry was sold to the shop owner after receiving information that Razor was possibly involved in purchasing stolen property and purchasing precious metals without identifying the seller.

After the undercover operations concluded, Razor was found to have several stolen items in the business including two stolen firearms from neighboring counties, according to the police report.

Authorities also searched his business where firearms and a sawed off shot gun was found.

Razor also had possession of several different types of pills of which he did not have a prescriptions for, the sheriff's office said.

During the investigation, detectives identified property which was taken during residential breaking and entering cases, according to police report.

By North Carolina State law, a dealer must obtain a permit to buy precious metals and keep required records.

The dealer is also supposed to assist law enforcement by obtaining identification and a photo of the jewelry or precious metals sold and forward this information to law enforcement.

Razor was booked and placed in the Iredell County jail.

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