Baltimore Man Charged in Gold Bar Scam Targeting Seniors
- A Baltimore County man has been charged for allegedly running a scam targeting senior citizens known as the 'Gold Bar Scam'.
- The scheme reportedly tricked elderly victims into believing they could invest in gold bars, resulting in significant financial losses.
- Authorities are highlighting the need for vigilance among seniors against such fraudulent activities.
BALTIMORE - A 52-year-old man from Baltimore County, Vipul Thakkar, has been charged in a fraudulent scheme known as the "Gold Bar Scam," which specifically targets senior citizens. According to court documents, Thakkar allegedly defrauded a 74-year-old man from Bethesda out of hundreds of thousands of dollars by posing as a government representative. The victim received a letter claiming that the Federal Trade Commission was filing a lawsuit and that he was entitled to compensation, but needed to consult an attorney. Thakkar, who presented himself as the attorney, advised the elderly victim to convert his assets into gold. This manipulation has raised alarms among local authorities, with Montgomery County State's Attorney John McCarthy emphasizing that seniors across the region, including those in Prince George's County, should remain vigilant against such scams. "Just because you are not in Montgomery County, don't let your guard down," McCarthy warned, highlighting the risks faced by elderly individuals with financial resources. Thakkar was arrested last week and is currently being held without bond, with a trial scheduled for September. Investigators are concerned that this case may be linked to a broader pattern of similar scams affecting seniors in Maryland and neighboring states, including Delaware, Pennsylvania, New Jersey, and Virginia. Authorities are urging the public to stay alert and report any suspicious activities to prevent further victimization.