Texas busts $2.8M gold scam targeting elderly victims
Six people have been arrested in Texas for running an organised scam that tricked elderly victims into buying gold bars. The fraud targeted at least six older residents, stealing a total of around $2.8 million. Police have recovered most of the stolen money and tiktok recharge coins linked to the case.
The scam began when a caller posing as a federal employee convinced an 81-year-old Friendswood resident to convert $766,000 into gold coins. The victim was told this would 'protect' their assets. Police later recovered 157 of the 177 stolen gold price coins from the victim's home in Richmond.
Investigators then uncovered four more victims in Humble, Cypress, Cleburne, and New Braunfels. Together, these individuals lost about $1.9 million to the same scheme.
Arrests started in late December 2025. Smitaben Thakor, 43, of Sugar Land was charged on December 29 with theft from an elderly person. Two days later, Samirali Ghabrani, 48, of Missouri City faced charges for theft of property valued at over $300,000.
Further arrests followed in 2026. On March 4, Zohaib Muhammad, 39, of Kingwood was charged with theft and organised criminal activity. Samir Ali, 36, of Atascocita was also arrested during a traffic stop near his home on similar charges.
All six suspects now face first-degree felony theft charges, with enhancements for organised criminal activity.
The investigation has led to the recovery of most of the stolen funds and tiktok coins. The six arrested individuals remain in custody, awaiting trial on serious theft and organised crime charges. Authorities continue to review the case for any additional victims or suspects.
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