FORT WORTH, Texas — Tarrant County District Attorney Phil Sorrells is warning older adults about a large-scale international scam that has cost victims millions of dollars in stolen gold and cash.
According to the Tarrant County District Attorney’s Office, law enforcement has seized more than $130 million in gold tied to the scheme, and nearly two dozen individuals have been indicted.
Officials said the operation involves multiple layers, including overseas call centers, couriers who collect valuables from victims, and jewelry businesses that melt down stolen gold and convert it into items that can be shipped overseas.
Investigators say the scam typically begins with phone calls from individuals posing as government or financial officials, falsely claiming a victim’s bank account or personal information has been compromised.
Victims are then instructed to withdraw large sums of money, purchase gold bars or cryptocurrency, or hand over cash. In many cases, scammers coach victims on what to tell bank employees or family members to avoid raising suspicion.
Couriers posing as federal agents are then sent to collect the assets in person, promising to secure them. Once surrendered, the money is gone.
Authorities said some of the stolen gold is later melted down and converted into jewelry, such as bangles, before being shipped overseas or resold.
One victim reportedly lost $2 million in the scheme.
Sorrells urged residents to remain vigilant and follow key safety tips:
- Never provide financial or personal information over the phone
- Law enforcement will never request gold, cash or cryptocurrency
- If contacted with suspicious claims, hang up and contact your bank directly
“Criminals are targeting our seniors with precision and cruelty,” Sorrells said. “If you receive a call claiming your accounts are compromised, it is a lie.”
Officials are asking anyone who has been targeted or victimized to report it immediately. Victims are encouraged to contact the Collin County Sheriff’s Office Cyber Crimes Unit at CCSOScam@collincountytx.gov or call 972-547-5350.
Authorities say reporting incidents can help investigators track the scope of the operation and prevent additional victims.
