Search warrants were executed across multiple states in a “gold bar scam” investigation targeting businesses linked to defrauding seniors through money laundering.
COLLIN COUNTY, Texas — Several search warrants were executed in multiple states, including North Texas, as part of an ongoing organized fraud investigation involving the laundering and melting of gold tied to what is commonly referred to as the “gold bar scam.”
The Collin County Sheriff’s Office said search warrants were executed at the following locations on Wednesday:
Malani Jewelers – Richardson, TexasMalani Jewelers – Decatur, GeorgiaOrlando Gold Refinery – Altamonte Springs, Florida
The scheme, according to law enforcement, tricks victims – who are often senior citizens – into withdrawing money, purchasing gold, and transferring those assets to couriers under false pretenses. The gold is then allegedly processed, melted, or otherwise handled through affiliated businesses by those impersonating law enforcement or regulatory officials, the sheriff’s office said.
The Collin County Sheriff’s Office said evidence gathered from previous search warrant activity on Jan. 29 gave them probable cause to link the three businesses to the financial and gold processing components of this investigation.
The Collin County Sheriff’s Office coordinated with the Lithonia Police Department in Georgia and the Seminole County Sheriff’s Office in Florida for a simultaneous search warrant execution of the three locations.
The sheriff’s office hit a location in Frisco and in Irving during the Jan. 29 bust, according to a press release.
Anyone who believes they may be connected to this investigation is encouraged to email CCSOScam@collincountytx.gov.