Jewelry store owner charged with swindling military members about credit terms

Posted at 1:18 PM, Oct 03, 2017
and last updated 2017-10-03 20:48:00-04

 SAN DIEGO (AP) -- California's attorney general has charged the owner of a chain of jewelry stores with failing to inform military members about credit terms and wrongly assessing penalties.

A criminal complaint filed last week in Los Angeles Superior Court names 54-year-old Ramil Abalkad, owner of Romano's Jewelers Services Inc. in Southern California, and 43-year-old Melina Abalkad, owner of MBNB Financial Inc. They are charged with conspiracy to engage in illegal financing and debt collection practices.

The attorney general's office says young Marines and sailors were encouraged to buy jewelry using MBNB Financial for credit and were not told about monthly payments and other terms.

Attorney General Xavier Becerra announced the charges Tuesday in San Diego.

A phone message left Tuesday at the company offices was not immediately returned.