The Collin County Sheriff’s Office executed search and arrest warrants Wednesday at Saima Jewelers in Frisco and Tilak Jewelers in Irving as part of an investigation into a large-scale fraud and money laundering operation targeting elderly victims across North Texas.
Suspects allegedly impersonated federal agents and regulatory officials, using false credentials and threats of prosecution to coerce victims into surrendering gold, cash and cryptocurrency, according to the sheriff’s office.
Victims were directed to act in secrecy and comply with specific instructions, including liquidating financial accounts, purchasing precious metals and transferring cryptocurrency. Couriers were then dispatched to meet victims at public locations and collect the assets, which were transported to businesses suspected of laundering or converting the proceeds, authorities said…