In 2023, Owen encountered a pop-up notification on his computer, alerting him that his personal data had been compromised. He was instructed to dial a specific phone number for assistance. Upon making the call, a person claiming to be a federal agent promised to safeguard Owen’s funds and advised him to convert a portion of his savings into gold bars, as recounted to ABC News. After numerous exchanges and even receiving what appeared to be a letter from the FBI, Owen proceeded to purchase gold bars worth $80,000.
“They instructed me to package it in a box… wrapped in Christmas paper,” Owen recollected.
Subsequently, he took the gold to a supermarket parking lot near his residence, anticipating to hand it over to a supposed federal agent for safekeeping. A vehicle pulled up beside Owen, and he placed the gold in the back seat before the driver swiftly departed. Owen never recovered his money.
Realizing that he had fallen victim to a scam, Owen discovered he was not alone in this predicament.
As the value of gold has surged, scammers have targeted acquiring more of this precious metal, resulting in a burgeoning scheme that defrauded Americans of approximately $126 million in 2024, per the FBI.
A recent investigation by ABC News in collaboration with WABC-TV and WLS-TV, titled “Gold Grifters,” uncovered victims of the gold bar courier deception scattered nationwide.
With victims losing substantial sums ranging from thousands to millions of dollars, authorities have been taken aback by the intricate nature and scale of the scam. Montgomery County Police Department detective Sean Petty, who has probed multiple gold bar scam incidents in Maryland, expressed astonishment at the widespread and elaborate operation.
As the public continues to fall prey to this deception, tune in to “Gold Grifters,” an ABC News investigation, airing on “ABC News Live Prime” at 7:00 p.m. ET on Feb. 24, 2025.
The Golden Era of Gold
The resurgence in gold’s value has led to a surge in demand for the metal, with individuals hoarding gold in unprecedented quantities. Tony Jordan, proprietor of Midwest Jewelry and Bullion in Indianapolis, highlighted the current trend of investing in gold due to its perceived stability.
However, scammers have capitalized on the escalating price of gold. Chris Delzotto, section chief of the FBI’s Financial Crimes unit, emphasized the allure of gold as a valuable asset, making it an attractive target for fraudsters.
An Attempt at Apprehension
Following Owen’s substantial loss, scammers reached out again, seeking additional funds under the guise of federal agents. Owen, growing suspicious, notified law enforcement.
Subsequently, a sting operation was arranged. Owen, working in collaboration with the FBI and a local Indiana police department, posed as if he would be transferring $50,000 to an individual. Wearing a
Owen informed ABC News that the individual responded with a simple “Yes” this time and then drove away as before. Law enforcement trailed the person, later identified as Abdul Mohammed, and brought him in for questioning. Federal prosecutors charged Mohammed with conspiracy to commit wire fraud and two counts of wire fraud. Mohammed, who fled the country afterward, served as a courier, tasked with picking up gold bars or cash from victims, according to authorities. The FBI notes that some couriers have more significant roles in the criminal enterprise, while others claim they were merely hired for package pickups. Law enforcement officials nationwide are targeting couriers to dismantle the criminal operation.
In an exclusive phone interview, ABC News spoke with Yash Shah, a suspected courier facing charges in two states for his alleged involvement in gold bar schemes. Shah, who initially faced multiple felony charges in 2023 related to the scam, professed ignorance about the gold’s destination. After pleading guilty and receiving five years probation, Shah was rearrested in November for alleged involvement in a Maryland case. He remains in a New York detention facility without bond. Shah explained that he was recruited by someone from India to pick up packages, some containing gold bars, for payments ranging from $800 to $4,000. His attorney acknowledged Shah’s responsibility in the scheme, emphasizing his client’s willingness to assist law enforcement in apprehending the masterminds behind the operation.
The FBI is investigating call centers in India associated with the scam, specifically targeting tech support pop-ups originating from these centers. In response to sophisticated scams, law enforcement officials are educating senior communities across the U.S. about such fraudulent activities to prevent victimization. John McCarthy, the state’s attorney for Montgomery County, Maryland, stressed the importance of advising and educating seniors about common scams. Furthermore, Chris Delzotto of the FBI advises caution when encountering unfamiliar websites and urges individuals to consult trusted family or friends before engaging with suspicious messages.
As couriers face legal consequences, law enforcement initiatives aim to combat scams targeting vulnerable populations.
The piece concerning the escalating scam involving couriers being used to collect gold bars from unsuspecting individuals was first published on abcnews.go.com.
