Accused Gold Scammer Fooled Into Accepting Chocolate Coins
Newser • • business
Key Points:
- A 79-year-old Michigan widow was scammed into wiring $700,000 to a coin shop under false claims that her Social Security number was linked to terrorism and she needed to convert her savings into gold for law enforcement tracking.
- Grand Rapids Coins owner Ben Soldaat became suspicious of the woman's urgent and confused behavior and alerted the Kent County Sheriff's Office, leading to a police sting operation.
- An undercover officer posing as an elderly woman collected a package of foil-wrapped chocolate coins from Soldaat, which was then delivered to the alleged courier, 20-year-old Yug B. Chauhan, who was arrested and faces two felony charges with potential 20-year prison terms.
- Authorities believe the scam originated overseas and note a rise in similar gold-based frauds targeting older Americans nationwide; the widow has since recovered her money and hopes to warn others against such schemes.