Tarrant County Criminal District Attorney Phil Sorrells addresses the media Friday at the Tim Curry Justice Center about a global scam directed at senior citizens.
FORT WORTH — A global fraud scheme that has drained millions from older adults — including about a dozen victims in Tarrant County — has led to 18 indictments, authorities said.
Tarrant County Criminal District Attorney Phil Sorrells announced the charges during a news conference Friday morning, where he was joined by local, state and federal law enforcement partners involved in the investigation.
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Sorrells said investigators have identified roughly 130 victims nationwide, though officials believe the true number is significantly higher.
“People have lost everything,” he said. “Don’t be the next victim.”
Authorities say the operation, which has been active since at least 2018, begins with phone calls from scammers posing as bank officials or government agents. Victims are told their accounts or personal information have been compromised and are pressured to act quickly to “protect” their assets.
Investigators said many of the calls originate from overseas call centers, primarily in India.
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Once victims are convinced, they are instructed to withdraw large sums of money or convert their savings into gold, cash or cryptocurrency. In some cases, victims are coached on what to tell bank employees or family members to avoid raising suspicion.
Couriers — sometimes impersonating federal agents — are then sent to collect the assets in person.
“Once handed over, the money is gone,” Sorrells said.
Authorities described the scheme as a layered criminal network involving couriers, intermediaries and businesses that melt down gold and move it overseas for resale.
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In recent months, investigators have seized more than $130 million in gold tied to the network. One Texas victim lost more than $2 million, according to Sorrells.
The case reflects a broader pattern of scams targeting seniors across the United States. Similar schemes have involved criminals posing as government agents or bank representatives to pressure victims into transferring money through wire transfers, gift cards or cryptocurrency.
Officials said the shift to gold marks an evolution in those tactics because it can be melted down, transported and resold with little traceability.
The investigation includes coordination with the Texas Department of Public Safety, Collin County Sheriff’s Office, Department of Homeland Security Office of Inspector General, U.S. Treasury Inspector General, U.S. Postal Inspection Service, and police departments in Allen, North Richland Hills and Bedford.
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Sorrells said the scam disproportionately targets seniors, who are more likely to answer unknown calls and trust the caller.
“They’re trusting, they’re easily frightened, and frankly, they answer the phone,” he said.
Sorrells urged residents to immediately hang up if they receive a suspicious call and not engage with the caller.
He emphasized that law enforcement agencies will never ask for money, gold or cryptocurrency over the phone.
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“If you receive a call claiming your accounts are compromised, it is a lie,” Sorrells said. “Do not withdraw money. Do not hand anything over.”
Sorrells advised residents to contact their bank directly using the number on their bank card — not a number provided by the caller — and to report any suspected scam immediately to law enforcement.
Officials said the investigation remains ongoing, and additional indictments are expected.
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