One calls it ‘organized crime at the highest level.’
Rockville, Md (KM) Montgomery County Police are currently investigating four criminal cases involving gold bar scams. That’s where a resident—usually a senior citizen–is talked into investing all of their money into gold bars. . They buy gold bars, and an individual comes to their door and takes the gold for “safekeeping.” They never see their money or the gold again.
During a news conference on Monday, Montgomery County State’s Attorney John McCarthy called these operations “organized crime at the highest level.” “As the investigation continues, this issue, we now know, is not nearly nationwide It’s not nearly affecting Maryland. It is not nearly affecting Montgomery County. It is international,” he said.
McCarthy says this cases has links to both India and China. He says arrests have been made in the United States, and in India with individuals connected to call centers who target people in the United States
Also on hand for the news conference was Detective Sean Petty with the Montgomery County Police Financial Crime Section. “To date, we’ve made five arrests connected to these crimes,”: he said. “And while I’m not going to speak specifically about the cases, I can say that the ages of the victims have ranged from 61 to 94 years old, with the largest lost being $2.3 million, in excess of $2.3 million.”
McCarthy says these victims have lost everything they’ve worked for. “The individual, as we’ve had in one of our cases, takes the money out of an IRA or something like that, where the money was not taxed. Then they get a tax bill from the federal government for the money that was taken out and invested into these gold bar scandals in the United States. Some are potentially losing their homes,” he said.
Once the money is lost, Detective Petty said the victims never see it again, even if the suspects are arrested and charged. “We want you to convert your assets into gold bars because we’re going to have somebody come pick them up for you and put them in safekeeping because we’re the federal government, or the state government or some local entity. It’s a scam, 100 percent it’s a scam. You’re not going to get that gold back<‘ he said.
William Debagno, Special Agent in Charge for the FBI in Baltimore, says these scammers can be very convincing. “These scammers try to isolate you, isolate their victims and convey a sense of urgency. Don’t let them. Hang up the phone. Call a friend you can trust or a family member and talk it through,” he says. “If you think you’ve been scammed, contact your bank immediately and report the activity to law enforcement.”
Debagno says you can contact the FBI on line at IT3.gov, or call 1-800-CALL-FBI (225-5324).
Officials at the news conference urged all residents to not answer any calls on their phones if an unfamiliar number comes up on you Caller ID; and do not click on pop-up ads on your computer.
By Kevin McManus