COLLIN COUNTY, Texas — The Collin County Sheriff’s Office, in collaboration with multiple law enforcement agencies, executed search and arrest warrants as part of an ongoing investigation into a large-scale fraud and money laundering scheme targeting elderly victims in North Texas.
The suspects impersonated federal agents and regulatory officials, using false credentials and threats of prosecution to coerce victims into surrendering high-value assets, including gold, cash, and cryptocurrency, according to a press release from the Collin County Sheriff’s Office. Victims were instructed to liquidate financial accounts, purchase precious metals, and transfer cryptocurrency, with couriers dispatched to collect these assets at public locations.
Search and arrest warrants were executed without incident at locations in Frisco and Irving, where investigators are processing evidence, including financial records, electronic devices, and precious metals. Individuals were taken into custody, and more arrests are anticipated, stated the source. The investigation involved assistance from the Allen Police Department, Irving Police Department, North Richland Hills Police Department, the Texas Department of Public Safety, the Department of Homeland Security’s Office of Inspector General, the United States Postal Inspection Service, Immigration and Customs Enforcement, and the Federal Crime Information Center…