Maryland and federal authorities introduced Monday that they’ve shut down three Indian name facilities linked to a gold bar rip-off that stole thousands and thousands of {dollars} from American customers.
Authorities stated the operation netted virtually $50 million from greater than 600 victims throughout the U.S. via wire switch, cryptocurrency and gold bar schemes.
The six alleged leaders of the scheme had been additionally arrested, authorities stated.
An ABC News investigation beforehand discovered that as the worth of gold surged, grifters posing as federal brokers satisfied folks — principally older Individuals — to transform their life financial savings into gold bars.
As a part of the scheme, scammers despatched “couriers” to select up the bars in particular person to allegedly hold them in a safe location.
John McCarthy, the state’s legal professional for Montgomery County speaks throughout a press convention on the Montgomery County Police Division in Gaithersburg, Md., Feb. 2, 2026.
Montgomery County Police Division
Final 12 months, ABC Information interviewed a suspected courier from jail as he confronted costs in two states for his alleged involvement within the rip-off. He claimed he was employed by a person in India and paid between $800 and $4,000 per job to select up packages, a few of which contained gold bars.
John McCarthy, the Maryland state legal professional for Montgomery County, introduced Monday that his workplace had indicted 10 couriers accused of gathering cash from victims, and stated that a number of of these instances have already resulted in convictions.
“They’re concentrating on individuals who have retirement cash, who’ve pensions, who’ve investments, who’ve possibly offered their properties and have that cash in reserve,” McCarthy stated.
