Federal law enforcement has raided another jewelry store in North Texas, this time in Richardson, as part of a wider investigation into a $74 million gold scam targeting seniors. Malani Jewelers was one of several businesses accused of laundering stolen gold from victims of the scheme.
The alleged gold bar scam involves scammers contacting seniors via email or text message, claiming their bank accounts have been hacked or they’re in trouble with the law. The scammers then direct the victims to withdraw cash and buy gold, which is later melted down into jewelry and sold or smuggled out of the country.
Three simultaneous raids were carried out in Richardson, Atlanta, and Orlando, resulting in over $50 million worth of gold being seized. This is not the first time local law enforcement has cracked down on the scam; earlier this year, detectives arrested dozens of suspected couriers from around DFW as part of a task force set up by the Collin County Sheriff’s Office.
Victims in Collin County alone have lost $13 million to the scam, while Texans statewide have lost over $74 million. Authorities are now working to recover money and return it to the more than 200 known victims. The investigation has resulted in about 20 arrests so far, but authorities stress that recovering the stolen funds remains their top priority.
Source: https://www.cbsnews.com/texas/news/gold-bar-scam-raid-richardson-jewelry-store