ALTAMONTE SPRINGS, Fla. — A local jewelry store is mixed up in a three-state sting that authorities say was part of a “gold bar scam.”
Authorities in three states conducted a series of raids this week to dismantle an organized scam targeting elderly victims.
The investigation involved coordinated law enforcement actions in Florida, Georgia, and Texas.
The probe centers on a network of scammers who allegedly pose as law enforcement officers to pressure victims into buying gold bars for “safekeeping.”
Investigators used digital forensics to track the gold to three different businesses, including a refinery in Altamonte Springs.
In Central Florida, the investigation focused on the Orlando Gold Refinery in Altamonte Springs.
Investigators arrived at the Seminole County business on Wednesday after months of digital forensics and coordinated work between multiple agencies led them to that location.
The Collin County Sheriff’s Office in Texas reported that the scammers primarily targeted senior citizens.
According to investigators, the suspects posed as law enforcement officers and claimed the victims’ money was in danger, using high-pressure tactics to convince them to purchase gold bars.
Once the victims purchased the gold, they were told to hand the bars over to the scammers for “safekeeping.”
Authorities say the criminal network then transported the gold to businesses such as the Altamonte Springs refinery for processing.
Investigators say the gold was melted down at these locations to hide its origin.
This step in the operation was designed to make the stolen assets untraceable before they were moved further through the network.
See more in the video above.
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