By phone, seniors persuaded to buy gold bars in theft scheme, Tarrant DA says
Eighteen people were indicted last week in Tarrant County in connection with a theft scheme in which the defendants are alleged to have been part of an effort to convince senior citizens to hand over gold and cash for safekeeping, then melt stolen gold and convert it into bangles taken to India.
A grand jury indicted the defendants on the offense of engaging in organized criminal activity in connection with what the Tarrant County Criminal District Attorney’s Office alleges is an ongoing international criminal enterprise.
Some of the victims lost their retirement savings to the theft, District Attorney Phil Sorrells said on Friday at a press conference at which he announced the indictments.
Law enforcement authorities in the past few months seized about $130 million in gold connected to the theft network.
The scheme often began in overseas call centers. Scammers call older people, falsely claiming the victim’s bank account, Social Security number or other personal information has been compromised, Sorrells said.
“And they’ve got ‘em hooked. They believe it, and they talk to ‘em for as long as it takes to get ‘em to let go of their money,” Sorrells said.
The scheme participants instruct victims to withdraw money to be kept safe by a courier who will arrive in person.
Victims are told to purchase gold bullion bars or bitcoin or to withdraw cash. Couriers posing as federal agents arrive to collect the gold, cryptocurrency or cash, Sorrells said.
Some of the stolen gold is funneled to jewelry stores or refineries, melted and sold or converted into jewelry that is shipped overseas or sold for profit, Sorrells said. A Texas theft victim lost $2 million.
Sorrells said law enforcement authorities will never ask for gold, cash or cryptocurrency. A person who receives a suspicious call should hang up and contact his or her bank directly, the district attorney said.
This story was originally published April 24, 2026 at 7:42 PM.
