BRADENTON, Fla. (WWSB) – Two scammers involved in a nationwide fraud conspiracy wiped out an 80-year-old Bradenton man’s life savings — $1.4 million — by posing as federal law enforcement agents, Bradenton Police said.
One of the scammers was sentenced last week to 15 years in prison, after one of his partners agreed to cooperate with authorities, according to federal prosecutors.
In 2024, the Bradenton Police Department’s Elder Fraud Unit began an investigation into a gold bar scam tied to a nationwide elder fraud conspiracy.
The victim, an elderly veteran, told detectives that in February 2024, two men came to his home claiming to be U.S. Customs and Border Protection agents. They said there was a warrant for his arrest and said a supervisor would contact him.
For about a month, the victim was contacted by a woman claiming to be a supervisor who told him she could help resolve his legal issues if he assisted with an investigation.
She instructed him to convert his money into gold bars and provide them to her “agents.” Believing he was assisting law enforcement, the victim purchased approximately $1.4 million in gold bars in three separate transactions and delivered them to individuals at predetermined locations.
Detectives traced the victim’s money to Swetaban Patel in Georgia. Patel was arrested in April 2024 and charged with grand theft. She later agreed to cooperate with federal authorities against her co-conspirators.
Detectives also identified a second suspect, Syed M. Makki, as one of the suspects posing as agents.
By the time Patel was arrested, Makki was already in custody in Illinois after authorities said he was transporting gold bars collected from other victims through conspirators in Colorado and Missouri.
Last week, a federal judge sentenced Makki to 15 and a half years in prison for his role in the conspiracy and ordered him to pay $4.7 million in restitution and forfeit the gold bars.
According to federal prosecutors, between 2023 and March 31, 2024, conspirators used computer malware to direct potential victims to fraudulent phone numbers.
Once victims called, members of the conspiracy posed as Microsoft employees, banking officials, government employees, and law enforcement officers.
Victims were told their identities had been compromised and that their money was no longer safe in financial institutions.
They were instructed to liquidate bank and retirement accounts, purchase gold bars or coins, and turn over those assets for “safekeeping” to individuals involved in the scheme, including Patel.
The gold was then transported across state lines.
Federal prosecutors have identified 12 victims to date who collectively lost more than $6 million through the fraud scheme.
For information on the Bradenton Police Department Elder Fraud Unit, as well as resources to protect yourself against common scams, visit Bradentonpd.com/Elder-Fraud-Unit.
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