Suspect accused of conning senior in gold bar scam appears in court in Montgomery Co.
On Thursday, Ravinkle Mathon, 26, appeared in court, after being accused of trying to scam a man in his late 80s to early 90s out of $200,000. FOX 5’s Homa Bash has the latest details.
MONTGOMERY COUNTY, Md. – A warning from officials in Montgomery County: scammers are still targeting elderly victims, convincing them to convert cash into gold bars.
Officials have noted a consistent pattern of seniors being targeted across different areas in the county, including Bethesda, Silver Spring, and Leisure World.
“The suspect told the victim that he was a federal agent and that his identification had been stolen, and he needed to transfer his money into gold bars to protect it,” said Shiera Goff with the Montgomery County Police Department.
The victim believed the call, took out $200,000, and had it converted into gold bars through a legitimate website, ready to hand over to the suspect posing as a federal agent.
Undercover officers set up a sting on Briggs Cheney Rd. in Silver Spring and arrested Mathon – a 26-year-old man claiming to be a German citizen, but with a history of travel in India.
These scammers often have international ties, allowing them to transport the gold bars out of the country easily, a concerning loophole in the system.
The FBI has noticed a rise in cash-to-gold scams across the country, with losses totaling over $55 million from May to December 2023.
In Montgomery County alone, there have been more than a dozen reported victims, indicating the urgent need for awareness and prevention.
Officials stress the importance of education and community awareness in preventing financial crimes targeting seniors. Presentations and outreach programs are being conducted to inform vulnerable populations.
The shift to using gold bullion websites in scams is due to the ease of large transactions without raising suspicion from traditional financial institutions, highlighting the need for vigilance.
Both suspects in these cash-to-gold scams are being held without bond and face up to 20 years in prison for each theft charge, emphasizing the severity of their actions.
