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Millions of Maryland seniors defrauded in gold bar scam

kent-jackson by kent-jackson
August 13, 2024
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Millions of Maryland seniors defrauded in gold bar scam
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## Scam Targets Seniors in Montgomery County, Maryland

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Law enforcement in Montgomery County, Maryland, is warning the public about a scam targeting seniors that has resulted in millions of dollars in losses for victims. Since July 2023, around 20 victims have come forward, but it is believed that there may be more individuals who have been swindled without even realizing it.

### Organized Crime at the Highest Level

Montgomery County State’s Attorney John McCarthy described the scam as organized crime at the highest level. He emphasized that once individuals fall victim to these schemes, the chances of recovering their lost money are slim. McCarthy highlighted that the scams usually originate from overseas, particularly from India or China.

### Tactics Used in the Scam

The scams typically begin with a computer alert, a pop-up ad, or a phone call where scammers impersonate federal agents or tech support. The targets are manipulated into believing that their accounts have been compromised and are pressured to convert their savings into gold bars for safekeeping.

### Recent Arrests and Cases

Several suspects have been arrested and charged in connection with these fraudulent activities. An example includes a 74-year-old Bethesda man who reported losing over $1 million to a scam involving gold bars. Detective Sean Petty, leading the investigations, emphasized that victims often feel ashamed and reluctant to come forward.

### Public Awareness and Safety Measures

Law enforcement officials are encouraging residents to speak with elder family members about the risks of these scams. Additionally, they advise individuals not to engage with unfamiliar phone numbers or click on pop-up ads. If a call appears suspicious, it is recommended to hang up and discuss it with a trusted friend or family member.

### Additional Precautions and Reporting

Residents are urged to be vigilant and report any suspicious activities related to these scams. The Montgomery County Police Department has partnered with area pawnshops to help identify potential victims. Internet scams should be reported to the FBI’s Internet Crime Complaint Center either online or by phone.

By raising awareness about these fraudulent schemes and educating the public on preventive measures, law enforcement hopes to protect vulnerable seniors from falling prey to these elaborate scams.

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