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It became theft when he sold it knowing who the owner was
wackoae Updated - 30th Apr 2010
Finders keepers can only be claimed when the owner is totally unknown. In this case, the owner was very well known by the guy, he didn't follow any logical steps to contact the person (even when it had access to the info) and he shopped the item around 5 companies until he found an idiot to buy the contraband (stolen good).

On top of that, the buyer expanded on the crime by taking the item apart without contacting the owner.
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ie8 fix