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Home Gold News Woman in Her 70s Loses $500K to Scam Involving Gold Coins

Woman in Her 70s Loses $500K to Scam Involving Gold Coins

by anna

Detectives from the Clark County Sheriff’s Office are investigating a sophisticated scam that led to a woman in her 70s losing over $500,000 in gold coins.

According to the sheriff’s office, the victim, a resident of Clark County, was initially contacted by someone claiming to be from the Federal Office of Inspector General. The caller informed her that fraudulent activity was linked to her Social Security number, prompting her to take action.

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Over the course of several months, the scammer convinced the woman to participate in a so-called “federal process” aimed at transferring her financial assets to a new, secure Social Security number. The scammer even went so far as to arrange a phone call from someone posing as a Vancouver Police officer, who supported the legitimacy of the investigation.

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Eventually, the scammer persuaded the victim to withdraw most of her liquid assets, purchase gold coins, and hand them over to an individual posing as an “undercover federal agent,” who promised to return the assets at a later date.

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The sheriff’s office noted that this scam is part of a larger trend of online and local hoaxes targeting vulnerable individuals across the country.

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Authorities are warning the public to be cautious about unsolicited phone calls or text messages. They encourage people to verify the legitimacy of such claims by independently researching the contact information for any agency or company involved.

“Government agents will never ask for payments in gold, gift cards, or cryptocurrency,” the sheriff’s office emphasized.

Detectives are also advising individuals to check in on elderly family members to ensure they are aware of these types of scams and know how to protect themselves.

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