Men Lose $300,000 In Gold-Buying Scam: Police

GAITHERSBURG — Detectives in Montgomery County Police's Financial Crimes Section are asking the public for help identifying a man suspected of taking $300,000 from victims in a fake gold scam.

According to a statement from police, one victim is the owner of a gold store outside of the United States. The victim was contacted by an unknown man online, who told of a Gaithersburg man named "Mike" who was allegedly looking to sell a large quantity of gold.

The victim spoke with one of his friends, police said, and the pair agreed to purchase the gold. They then met up with "Mike."

On Aug. 20, the victims met the scammer and accompanied him to the third floor of a storage facility on Christopher Avenue. Mike showed the victims a box, which he claimed contained the gold, and allowed them to take a sample of the gold to have it tested, police said. He then sealed the box and said no one could tamper with it.

That afternoon, the victims tested the gold and determined it was legitimate, police said. They then returned to the facility and paid the suspect $300,000 for the gold.

The gold in the box was then tested and determined to be copper. The victims reported the scam to police.

Anyone with information regarding this suspect or this scam is asked to call the Financial Crimes Section at 240-773-6330. Those who wish to remain anonymous may call Crime Solvers of Montgomery County toll-free at 1-866-411-TIPS (8477). Crime Solvers will pay a cash reward of up to $10,000 for information that leads to an arrest in this case.

Image via Montgomery County Police Department