Fort Lauderdale, Fla.--The Florida Attorney General's Office has launched a civil investigation into mail-in gold company Cash4Gold, after receiving 72 consumer complaints about the operation, the office confirmed to National Jeweler.

Cash4Gold, whose parent company is Green Bullion Financial Services LLC, is a Pompano Beach, Fla.-based company that asks consumers to mail in their old, unwanted gold jewelry in exchange for cash.

It's perhaps best known for its widespread TV advertising campaign featuring rapper MC Hammer and the late entertainer Ed McMahon, including a spot that aired during last year's Super Bowl.

According to the attorney general's office, the civil investigation into Cash4Gold began in November 2009 after a number of consumers filed complaints claiming they were not paid nearly enough for their gold.

Consumers also state that they contacted Cash4Gold within the allotted 10- to 12-day return period to say they were not satisfied with the amount offered for their gold, only to be told their gold was already melted.

Others allege that when they returned their checks because they were unsatisfied with the amount offered, they never get their jewelry back, according to the attorney general's office.

In addition, numerous complaints charge that Cash4Gold claims it never received their envelope of gold jewelry or that the envelope was empty when it arrived.

Also under investigation by the attorney general's office are Cash4Gold refinery Albar Precious Metals Refining Inc., and executives Jeff Aronson, Howard Mofshin, Jerome Kornbluth and Jerry Kaye.

Cash4Gold is cooperating with the investigation, according to the attorney general's office. The office's Economic Crimes Division in Fort Lauderdale, Fla., is handling the case.

In a statement sent to National Jeweler on Thursday, Cash4Gold said it is confident the matter will be resolved quickly, amicably and to the full satisfaction of the office and the company.

"Cash4Gold is extremely proud to have worked closely with Florida officials to create and implement the first law of its kind regulating the mail-in gold buying industry, and we welcome the opportunity to work with lawmakers in Washington on a similar bill that is national in scope," the statement reads. "We are, and will continue to be, a leader in this country on the cooperation between law enforcement and the mail-in gold buying industry we pioneered."