China Pearl has a customer base ranging from department stores and chain stores to independent retailers
He allegedly used his position to steal precious metals from the company’s facility
He's been with the organization for 32 years
The price was $26.7M
Two people were arrested in connection with the case
Investigators believe the suspects have left the area
Doors and several jewelry cases were broken
'Instead of trying to find a qualified buyer, why not give it to people that are successfully running it now?'
The company has merged with Govberg, Radcliffe and Hyde Park Jewelers.
The firm reported liabilities of about $44 million versus assets of $3 million