FBI Warns of Millions Stolen from Maryland Seniors in Gold Bar Scam

ROCKVILLE, Md. – In collaboration with the FBI, authorities in Montgomery County issued a new warning Monday regarding a widespread gold bar scam targeting seniors across the region. 

The scam, which has resulted in millions of dollars being stolen, has prompted local and federal officials to urge residents, especially seniors, to remain vigilant.

“The reality is, once you’re a victim of one of these scams, the chances of getting your money back are not high,” said Montgomery County State’s Attorney John McCarthy.

Montgomery County Police Detective Sean Petty revealed that, as of Aug. 9, investigators have identified seven victims who collectively lost $6.3 million in gold bars. 

The list of suspects continues to grow, with several arrests already made.

### Arrests Made in Connection with Scam
Among those arrested is 52-year-old Vipul Thakkar of Baltimore County, who was caught in a sting operation while allegedly attempting to steal over a million dollars in gold bars from a 74-year-old Bethesda man. The victim, who had made nine trips to a local gold store to convert his cash into gold, contacted authorities after recognizing the scam from news reports.

Ravinkle Mathon was also arrested for attempting to steal $200,000 from an elderly Maryland man in his early 90s. The man’s concerned friends alerted police, preventing the theft of his life savings.

### Insight
It is crucial for seniors to be cautious and skeptical of any unsolicited offers or requests for money, especially involving large sums like gold bars. Authorities advise seniors to verify the legitimacy of any financial transactions or requests before proceeding.

### FBI Warns of Dire Consequences
FBI Special Agent-in-Charge Bill DelBagno emphasized the severity of the situation, stating, “People are losing their life savings, their homes, their trust, their security. Unfortunately, it’s happening across the United States, and it’s happening here in Maryland.”

The scam typically begins with pop-up ads or phone calls, where suspects pose as federal agents and instruct victims to convert their assets into gold bars for “safekeeping” by the U.S. Department of Treasury. 

### Protection Measures
The Montgomery County State’s Attorney’s Office is advising residents to protect themselves by not answering calls from unknown numbers and avoiding clicks on pop-up ads when using their computers. It is important for individuals to remain vigilant and verify the authenticity of any financial transactions to avoid falling victim to such scams.