Collin County Sheriff’s Office, working alongside a wide network of local, state, and federal partners, executed coordinated search and arrest warrants on Thursday, January 29, 2026, as part of an ongoing investigation into a large-scale fraud and money laundering operation targeting elderly victims across North Texas.
Investigators say the scheme involved suspects impersonating federal agents and regulatory officials, using fake credentials and threats of prosecution to intimidate victims into surrendering valuable assets. Victims were instructed to act in secrecy and were coerced into liquidating financial accounts, purchasing gold and other precious metals, and transferring cryptocurrency.
According to authorities, couriers were then dispatched to meet victims at public locations to collect cash, gold, and digital assets. Those proceeds were allegedly transported to businesses believed to be involved in laundering or converting the stolen funds. Collin County victims lost more than $7 million and the total for Texas victims was $55 million lost…