The Ocean County Department of Consumer Affairs has reached a settlement with a “transient gold buyer” following an investigation into improper business practices, officials announced.

The Division of Weights & Measures launched the investigation in 2025 after receiving a complaint about gold purchasing activity at a hotel along Route 70 near the Brick/Lakewood border. The probe focused on Tal Kalif, operating as Estate Buyers and TK Diam, Inc., with listed addresses in Robbinsville, New Jersey, and Florida.

Authorities determined the business failed to comply with New Jersey laws governing gold transactions. Specifically, officials said the company was not properly bonded with the State Office of Weights & Measures, used unregistered or uninspected scales, and issued improperly completed receipts to consumers. Investigators also seized three scales during the probe, discovering that one was not accurately registering weight in favor of customers.

As part of a Consent Agreement signed January 7, Kalif agreed to permanently cease doing business in Ocean County. The agreement was formally entered into the record on March 16 before Judge Scott Basen in Lakewood Township Municipal Court. Kalif was also assessed a $40,000 penalty.

Ocean County Commissioner Robert S. Arace, liaison to the Department of Consumer Affairs, emphasized the importance of enforcement efforts, stating that protecting residents and ensuring fair treatment remains a top priority.

Consumer Affairs Director Ronald Heinzman noted that the case comes amid historically high gold prices, which have reached up to $3,500 per ounce, increasing the potential for fraudulent activity. He added that the Division of Weights & Measures will continue to aggressively investigate complaints involving the sale of gold and precious metals.

The case was handled by the Division of Weights & Measures with legal oversight from County Counsel Laura Comer, Esq. Officials also credited the Lakewood Township Police Detective Bureau for assisting in the investigation.