Tayo Ojewunmi-OjoA scam involving the sale of gold bars is rising in Montgomery County. The local state’s attorney has implemented a plan to expose the fraudsters’ methods so that more seniors understand how to avoid financial loss.
“We’ve had about 25 victims currently in Montgomery County, and the largest individual person that I’m familiar with lost $973,000. Every case that I’m aware of, there’s been a loss of at least $100,000 several in the $200,000, $300,000 range,” the State’s Attorney John McCarthy told The Wash.
Montgomery County currently has four criminal cases involving five defendants related to the gold scam, according to the State Attorney’s website. Additional cases are also currently under investigation.
Here is how McCarthy’s office explains the crime setup.
The scam often begins with fake pop-up ads on a computer or phone calls in which the scammers impersonate government officials. Scammers may tell potential victims that their identity has been compromised and that to protect their assets, they need to immediately convert money into gold bars and hand them over to them for “safekeeping.”
The Wash was invited to Brandywine Living at Potomac last month to hear more about efforts to educate seniors.
The interactive session between residents and the AG’s office afforded them the opportunity to discuss awareness of scams and the other forms they could take.
“I like what he did for us today,” Sally Dowling told The Wash. “I’ve been scammed before, but I’ve never lost money because I’ve always found a way to stop it. This session will help a lot of people here on what to look out for.”
Another Brandywine resident, John Klafin, said that the session was very informative. “I thought it was great. No one is too smart not to be scammed.”
In his session with the seniors, McCarthy said the scammers follow a script, noting that it’s a coordinated activity that originates from India and China.
“They then send couriers on behalf of the individuals to pick up the gold, and they target women more,” McCarthy said. “This is a scam that has affected people from all areas of life, geographically within the county; they are targeting particularly senior people who have a great deal of trust in the government.”
Responding to how they feel about the State Attorney visiting their residence to educate them on the gold bar scam, several seniors told The Wash that they are elated as they have now learned something new about the never-ending scams targeting them.
The Gold Bar Scam is so prevalent that the FBI issued a warning early this year about its danger. The agency noted that scammers even pose as tech support or U.S. government officials.
The FBI warned that the U.S. government and legitimate businesses will never request you purchase gold or other precious metals.
The Federal agency urged victims to report fraudulent or suspicious activities to the Crime Complaint Center as quickly as possible.
Natalia Quintana-Feliciano
Add comment