How did the gold bar scam target elderly victims?

Scammers posed as law enforcement officers and used high-pressure tactics to convince victims that their money was in danger, leading them to purchase gold bars.

What happened to the gold bars after victims purchased them?

The victims were told to hand the gold bars over for safekeeping, after which the scammers transported them to businesses to be melted down and processed.

Which states were involved in the sting operation against the gold bar scam?

The investigation and coordinated law enforcement actions involved authorities in Florida, Georgia, and Texas.

Home / Crime and Justice / Three-State Sting Busts Sophisticated Gold Scam

Three-State Sting Busts Sophisticated Gold Scam

26 Feb

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Summary

Scammers posed as law enforcement officers targeting seniors.
Victims were tricked into buying gold bars for safekeeping.
Gold was melted down to hide its origins during the scam.

Three-State Sting Busts Sophisticated Gold Scam

Law enforcement agencies across Florida, Georgia, and Texas have successfully dismantled a multi-state "gold bar scam" that preyed on elderly citizens. The investigation culminated in raids this week targeting the criminal network. Scammers employed high-pressure tactics, impersonating police officers to convince victims that their money was at risk.

Victims were coerced into purchasing gold bars, which they then handed over to the scammers for "safekeeping." These gold bars were subsequently transported to various businesses, including the Orlando Gold Refinery in Altamonte Springs, Florida. At these locations, the gold was melted down to erase its traceability before being moved further within the criminal network.

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