Yash Shah, 26, of Baldwin, N.Y., has been arrested in connection to a gold bar scheme defrauding seniors in Montgomery County. Shah is accused of defrauding an 88-year-old mother and her 61-year-old daughter of over $2.3 million in a government imposter scam, the first case of its kind reported in the county. The victims were contacted by an unknown caller claiming to be from the Department of Justice, who instructed them to convert their assets into cryptocurrency and gold bars to safeguard them. Over five months, the victims complied, making deliveries of gold bars to Shah. Detectives in Montgomery County, working with law enforcement in New York, identified Shah as a courier who accepted a delivery of gold bars worth over $83,000. Shah was arrested in New York and is awaiting extradition to Maryland.
The FBI and authorities in Montgomery County have issued a warning about the gold bar scam targeting seniors in the region, which has resulted in millions of dollars being stolen. Residents, especially seniors, are urged to remain vigilant. This arrest comes as part of ongoing efforts to combat this widespread scam and protect vulnerable individuals from falling victim to financial fraud.
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