Gold bar scam targets victims in Missouri and Kansas, prosecutors say
Meanwhile, prosecutors say it’s worth it to warn people about this gold scam.
SEATTLE (Scrap Monster): Federal prosecutors are warning about a scam sweeping the country, including victims in Missouri and Kansas.
The scam tricks victims into turning money in their bank accounts into gold bars or coins to keep their money safe.
“It’s devastating,” said Kate Mahoney, assistant U.S. attorney for the Western District of Missouri. “Their life savings are wiped out.”
Hearst Television’s national investigative unit has investigated this scam across the country in recent months. Hearst sister station WISN-TV and investigative reporter James Stratton recently spoke with a woman scammed out of more than $650,000.
Here in Missouri, Mahoney is prosecuting a case involving an Illinois man who took a plea deal in connection with being a courier in a recent gold bar scam.
Syed M. Makki, 37, pleaded guilty to one count of conspiracy to commit wire fraud before a federal judge. He will be sentenced at a future hearing and could face up to 20 years in prison.
The scheme took place from 2023 to March 2024, when scammers put malware on people’s computers, which displayed a phone number to call.
The scammers would misrepresent themselves as Microsoft employees, government employees or law enforcement officers.
They would trick people into believing their identities were compromised and their money was not safe in banks.
Makki admitted that from 2023 to March 2024, he acted as a courier by picking up gold bullion and cash from victims and delivering it to co-conspirators.
An Illinois sheriff’s deputy and a state trooper arrested him in Jacksonville, Illinois, on March 27, 2024, with 16 gold bars worth more than $1 million from victims in Littleton, Colorado, and Kansas City, Missouri.
“Everything they have worked and saved for their whole career, that they intend to live on for the rest of their life is wiped out,” Mahoney said. “It’s completely gone.”
Mahoney said some people lose their houses and the ability to support themselves financially.
“That’s devastating,” she said.
Makki’s defense attorney, Gregory Watt, said his client takes full responsibility for his actions.
“We are very sorry for any pain,” Watt said. “We are very sorry for his involvement.”
Watt said his client worked in transportation.
“So I don’t know that he knew entirely the scope of this,” Watt said. He said he could not comment specifically about the details of his client’s involvement but added that people looking for work can get caught up in illegal schemes.
“The applicant believes this is a legitimate job,” Watt said. “Well, sometimes these jobs are not legitimate.”
Makki will be sentenced in federal court soon.
Meanwhile, prosecutors say it’s worth it to warn people about this gold scam.
“I hope if even one person recognizes, ‘Hey, don’t call that number. Don’t send your money elsewhere. Don’t put it in the mail. Don’t give it to a courier. Do not buy bitcoin. Don’t do it.’ If they can save their money, it is worth it,” Mahoney said.
Courtesy: www.kmbc.com