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Bradenton fraud case tied to national gold bar scam
A 2024 investigation into a gold bar scam by the Bradenton Police Department helped uncover a nationwide conspiracy defrauding older adults out of millions of dollars. FOX 13's Kylie Jones reports.
BRADENTON, Fla. - A 2024 investigation into a gold bar scam by the Bradenton Police Department helped uncover a nationwide conspiracy defrauding older adults out of millions of dollars.
Federal investigators discovered there were at least 12 victims who lost a total of more than $6 million.
Bradenton financial fraud network
What we know:
A Bradenton man lost about $1.4 million in 2024 after fraudsters went to his home and claimed to be federal marshals with an arrest warrant.
Det. Jim Curulla, with the Bradenton Police Department, said the scammers preyed on the 80-year-old veteran's patriotism by convincing him he could avoid being arrested if he helped them with a sting operation.
"They wanted him to help assist them in Social Security fraud," Curulla said. "So, with his military background, they thought he would be an asset."
Detectives say that over time, the man bought about $1.4 million worth of gold bars to give to the fraudsters.
Detectives tracked down Swetaben Patel in Georgia, who was picking up bags of those gold bars and transporting them to higher-ups in the conspiracy network.
Curulla says he started getting calls from agencies around the country that were investigating similar cases.
"I got a call from a detective out in Colorado saying that they had just arrested the Syed Makki," Curulla said. "And in his phone, it had my victim's name and address."
Investigators believe Patel was working for Makki, who was overseeing these scams around the country.
Federal investigators say the victims ranged in age from 61 to 80 years old.
Last year, Patel was sentenced to 2.5 years in prison. Last week, Makki was sentenced to 15.5 years in prison.
Investigators believe the larger conspiracy traces back to India.
Senior citizen criminal targets
What we don't know:
It's not clear how much of the stolen $1.4 million was successfully recovered or if any assets were returned to the victims.
National fraud organization
Big picture view:
Police say these scammers are behind sophisticated fraud conspiracies.
"They're professional actors," Curulla said. "I mean, they are very organized, they're very smart, they're very detailed, and they literally will steal this country blind."
The Bradenton Police Department has a dedicated Elder Fraud Unit because detectives investigate cases of senior citizen being exploited every day.
Guarding older family members
What you can do:
Curulla urges people to closely watch out for older family members to protect them from life-altering financial scams.
If a relative mentions a high-pressure financial request or a sudden security issue, family members should contact local police immediately to verify the claims.
"There is nothing you have to act today on," Curulla said.
The Source: The information in this story was gathered from Bradenton Police Department Det. Jim Curulla, who explained how local detectives coordinated with out-of-state agencies, as well as federal investigators who tracked the nationwide conspiracy.