Irving/Frisco, TX, January 30, 2025: Law enforcement officials executed coordinated raids Thursday at two jewelry stores in the Dallas-Fort Worth area as part of a year-long investigation into an alleged gold-fraud scheme that targeted elderly residents across Texas.
At approximately midday, dozens of officers from the Collin County Sheriff’s Office, joined by local, state and federal agents, entered Tilak Jewelers in Irving and Saima Jewelers in Frisco. Investigators seized millions of dollars in cash and gold as evidence in what authorities describe as a multi-million-dollar criminal enterprise.
According to authorities, the long-running investigation uncovered what law enforcement officials call a “gold bar scam” that defrauded elderly victims, many over the age of 65. Prosecutors allege that fraudsters sent emails to seniors falsely claiming their names were linked to serious crimes and warning that they could face arrest unless they complied with specific demands. Those demands included purchasing gold or liquidating assets and then turning them over to couriers…