GAITHERSBURG, Md. — A 52-year-old man has been arrested in connection with a gold bar scam that defrauded a 74-year-old man from Bethesda out of $1 million.
Victim Reports Scam
The victim reported the scam to the police on July 17 after learning about a similar incident involving another individual losing nearly $1 million in a comparable scheme.
According to the victim, he received an email alerting him to a suspicious deposit in his bank account. The suspect then advised the victim to convert his funds into gold bars to safeguard his assets.
Multiple Purchases
Over the course of four months, from March to June, the victim made a total of 10 purchases amounting to over $1.1 million in gold bars. He arranged for the gold bars to be picked up by the suspect’s associates.
After the victim made a final purchase of more than $240,000 in gold bars, he became aware of the scam and contacted law enforcement.
Arrest of Suspect
Police took action by organizing a pick-up with the suspect, Vipul Thakkar, at the victim’s residence. A detective, posing as the victim, handed a package to Thakkar, who then left in a car.
Montgomery County Police
Thakkar was stopped shortly after leaving the victim’s residence and was arrested. He was then taken to the Montgomery County Central Processing Unit and charged with multiple counts of attempted theft. He is currently being held without bond.
Additional Insight
It is essential to remain cautious and vigilant when dealing with unexpected financial transactions or investments. Scammers often target vulnerable individuals with promises of quick profits or asset protection schemes. Always verify the legitimacy of any financial arrangement and seek advice from trusted sources before committing to large transactions.
