Montgomery County law enforcement officials are warning residents to be vigilant about avoiding gold bar scams run by international organized crime groups that have bilked about 20 local victims out of millions of dollars since July of 2023.
“It has an international flavor and make no mistake about it, this is organized crime at the highest level,” Montgomery County State’s Attorney John McCarthy said at a news conference Monday about the scams with links to organized crime in China and India that have been targeting victims nationwide.
Local law enforcement authorities held the press conference about a week after the arrest of Neel Patel, 23, of Carol Stream, Illinois, who was charged in connection with an alleged gold bar scheme to steal more than $700,000 from a resident of Leisure World in Silver Spring. The Washington Post reported that prosecutors said Patel and other fraudsters had targeted a mentally disabled victim, whose life savings were “virtually wiped out” after the scam. On Thursday, Montgomery District Court Judge Zuberi Williams ordered Patel to be held without bond at the Montgomery County Correctional Facility in Boyds.
In another case this year, a 19-year-old man from Brooklyn, New York, was charged with theft in early July in connection with a gold bar scam that swindled an 82-year-old Silver Spring woman out of more than $900,000, according to the state’s attorney’s office. Later in the month Vipul J. Takkar, 52, of Owings Mill was charged with multiple counts of theft in connection with gold bar scams targeting local victims.
In January, the FBI released a public service announcement warning people to be aware of scammers who may ask them to liquidate their assets into cash or gold and then send a courier to pick up the money or precious metals.
“Please do not ever, ever, click on a pop-up ad. … Don’t answer the phone if you don’t recognize the phone number,” McCarthy said at the press conference, referring to two main ways that scammers target individuals. He also said while the majority of the victims in the county have been older residents, anyone of any age or demographic can be targeted.
County Police Chief Marc Yamada said officials are hoping to increase awareness and continue to educate people about avoiding gold bar scams. The police department is thankful for the help from its federal partners, such as the Federal Bureau of Investigations and Homeland Security Investigations, in investigating the local cases, he said.

Laura, the niece of one Montgomery County victim, told reporters about her family’s experience after her aunt fell victim to a gold bar scam.
Laura, who did not provide her last name, did not share the amount of money lost by her aunt, an older resident, but said it was “definitely sizable.” She added that her aunt felt a lot of “shame” after realizing her money had been stolen.
“Unfortunately, it’s been hard on everyone. We are worried because she is in jeopardy of losing her house and our housing. For us, it’s just been really sad to watch,” Laura said. “I think that there is a lot of shame that comes with knowing that you’re responsible for putting yourself and your family at financial risk.”
Laura also said she felt partly responsible for her aunt’s plight and wished she’d recognized the signs that her aunt was dealing with fraudsters. Some of the signs she said she noticed were her aunt hiding her phone from family members and leaving out details or ending conversations abruptly.
“I feel like maybe if I had talked to her or maybe I paid more attention, I might have been able to prevent this,” Laura said.
Detective Sean Petty of the county police department’s financial crimes division said Monday that county police have now identified seven cases involving residents who have lost more than a total of $6.3 million in gold bar schemes. Petty also said some victims also lost money through cryptocurrency conversions and cash pickups as well.
So far, police have made five arrests connected to gold bars scams in the county, Petty said. Four of those cases are currently being prosecuted by the state’s attorney’s office. Petty noted the alleged victims involved were between 61 to 94 years old, and the largest individual loss was more than $2 million.
Bill DelBagno, a special agent in the FBI Baltimore Field Office, called the financial scams a “nightmare.”
“People are losing their life savings, their homes, their trust, their security,” DelBagno said.
How to prevent and report
Authorities are asking families to speak with their elders about gold bar scams and how to best avoid them, including by not clicking on pop-up ads online and not answering phone calls from unknown numbers.
“If you have a role in protecting a senior or if you are a senior yourself, please talk about this with the senior members of your community or your family,” McCarthy said.
Authorities also said it was important to report the crimes to the FBI, which has an internet crime complaint center at ic3.gov. Through the site, the FBI has received more than 250 complaints related to gold bars scams in the last few months–involving about $84 million that will likely never be returned, Delbagno said.
In addition, people who think they are being scammed can report the issue to local law enforcement, authorities said. County police have a website designated for reporting fraud and scams as well.
Authorities also stressed that law enforcement agencies and government officials will never contact people by phone with threats of arrest or to talk about compromised money. One of the ways scammers have been able to convince victims to participate is by posing as government agents, they said.
“Government agencies will never ask you to collect gold or cash or pay fines to safeguard your money, we will not demand immediate payment,” DelBagno said. “They will not ask for payment in very unusual ways, such as drop-offs of gift cards or cryptocurrency or wire transfers.
“Please, resist the pressure to act quickly. These scammers try to isolate their victims and convey this sense of urgency. Don’t let them. Hang up the phone, call a friend that you trust or a family member, and talk it through,” he said.