Montgomery County Warns of Gold Bar Scam

Montgomery County law enforcement has issued a warning about a sophisticated 'Gold Bar' scam that has defrauded seniors out of millions, with ties to organized crime in China and India. The scam typically involves impersonators posing as federal agents who convince victims to convert their savings into gold bars and hand them over for 'safekeeping'. At least 20 victims have been identified, with losses estimated at around $6.3 million, and five individuals have been arrested in connection to the fraud. Officials stress that legitimate agencies will never request cash or gold for protection, urging the public to remain vigilant. Investigators fear that recovering lost funds is unlikely, and they aim to prevent further victimization. The suspects are currently being held without bond due to flight risk concerns.