Scammers Target Texas Seniors with Deceptive Gold Scheme

More than 200 elderly Texas residents were taken advantage of by scammers looking to swindle this easy-to-trust community out of their valuable gold.

Nothing’s more deplorable than taking advantage of some of the most trusting members of the community like senior citizens.  Sheriff Jim Skinner revealed that more than 200 senior citizens were targeted by scammers posing as law enforcement.

An unbelievable 2.1 million is losses has been reported by the Collin County Sheriff's Office after uncovering a long-term gold fraud. The fraud involved targeting the elderly in Texas and making them believe they were being contacted by law enforcement, and making them believe they were involved in crimes.

To create more anxiety for the victims, they threatened them with arrests but revealed a way to clear their name. The way it worked was that the victims would be manipulated into believing they were involved in a crime. They were convinced that they were in trouble and would soon be arrested, and that’s when the scammers would go for the kill.

The only way the victims could clear their name and association with legal trouble is if they bought gold bars and then handed it over to a designated person. The worst part is: it worked, and it worked well.

"Our elderly victims who are being hoodwinked here have a respect for the law," Sheriff Jim Skinner said.

The scam went on for about a year, and over $30 million in gold and silver has been seized by two Texas jewelry stores. During a raid, a gold-melting setup was discovered inside a Frisco, Texas jewelry store. The store was ordered to stop work and accused of “unpermitted hazardous operations.”

"What these folks are doing is they're liquidating these assets by smelting the gold down, making jewelry, and just going home with it," Skinner said.

Three people, including the owners of the two stores, were arrested and charged with engaging in organized criminal activity and financial abuse of the elderly.

15 Iconic Snacks Banned in Texas

Over a dozen iconic snacks are suddenly banned in Texas due to a crucial ingredient. Find out which popular foods are off the shelves and why the FDA’s decision will change snack aisles forever.

Gallery Credit: Amazon

10 of the Biggest New Laws in Texas

More than 800 new Texas laws are taking effect but these 10 stand out. From schools and taxes to housing and healthcare, here’s what will impact you most.

Gallery Credit: Canva