Maryland seniors targeted in scam to convert money to gold bars, officials urge caution

It is the latest big-dollar scam – criminals convincing senior citizens to convert their savings into gold bars and turn them over to someone they believe is a federal agent.

Montgomery County State’s Attorney John McCarthy spoke out after Montgomery County police foiled the latest con targeting an 82-year-old woman; she lost nearly a million dollars.

“We’ve got to warn them about this particular danger. We are now at 17 cases in Montgomery County,” McCarthy said. “We’re talking about millions of dollarsand getting it backnearly impossible.”

According to charging documents, it all started when an ominous pop-up message appeared on the victim’s computer.

The message warned her that Russians had stolen all of her data, but the Federal Bureau of Investigations (FBI) could help protect her life savings. When she called the number given in the message, she was hooked by the story she was told.

“If you don’t give that money to us right now, they’re just going to wipe you out ma’am. But we’re here from the government and we’re going to help. This is how we can secure your future. Convert your cash to gold bars and we’ll pick it up for safekeeping,” McCarthy said the voice on the phone said.

The woman did what she was told, handing over $900,000 in gold bars to a courier in a fast-food parking lot. When she realized she was being victimized, she called the police and they set up a sting in Calverton shopping center parking lot Monday.

They arrested a 19-year-old from New York as he reached into the woman’s car to remove a box he thought contained the gold. The others involved in the conspiracy remain on the loose and a threat.

McCarthy said every senior and everyone who cares for a senior or is involved in any way with their finances needs to hear this warning about the gold bars scam.

“If somebody says I’m with the government, we’re here to help. ‘Just convert all of your cash to gold bars we’ll come pick it up in the parking lot of a shopping center.’ It’s not true. It’s not valid,” McCarthy said. “Call the police.”