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Multi-State Raids Seize Over $50 Million in Gold in ‘Gold Bar’ Scam Probe

Investigators say jewelry businesses melted stolen bars into bracelets to launder proceeds.

Overview

  • Federal and state teams executed simultaneous searches in Decatur, Richardson and the Orlando area targeting suspected laundering hubs.
  • In Richardson, a 20-officer SWAT unit entered Malani Jewelers, detained 13 employees, and removed crates of gold.
  • More than $50 million in gold was recovered across the three sites during Wednesday’s coordinated operation.
  • Authorities describe a scheme in which impostors posed as law enforcement to coerce mostly seniors to buy gold and hand it to couriers for resale and melting.
  • About 20 arrests have been made to date, and more than 200 victims have been identified as investigators focus on returning recovered assets.