Authorities in Tarrant County, Texas, announced the arrest of the ringleader of a gang as he was trying to flee to Saudi Arabia amid an investigation into a $250 million theft ring that targeted American senior citizens.
Muzamil Ahmed was arrested at JFK International Airport as he was preparing to board a flight to the Middle Eastern nation after being indicted in Tarrant County on August 28.
Officers arrested Ahmed on several Tarrant County warrants for engaging in organized crime for theft, financial abuse of the elderly, and money laundering, according to CBS News.
“Investigators believe Muzamil Ahmed is a central figure in this operation. He used shell corporations to launder stolen money to funnel proceeds to a gold refinery, converted gold and cash to cryptocurrencies, and moved the money out of the country,” said Tarrant County District Attorney Phil Sorrels.
Sorrels added that instead of flying to Saudi Arabia, Ahmed “caught a flight to Tarrant County and landed in our jail.”
Prosecutors said that Ahmed was a central figure in the scam that victimized more than 200 people, many in the U.S.A.
The case has resulted on more than 40 indictments. Two more men were arrested at the same time as Ahmed, one in Chicago and a second in Newark, New Jersey.
The scammers convinced senior citizens that their bank accounts, investments, and other financials were compromised by hackers and the elderly victims were told to buy gold to safeguard their assets. The victims were then told to hand over the gold to men whom they were told were federal officers who would take the gold to a secure storage to protect their money. However, the gold was simply stolen, never to be returned.
Investigators say that Ahmed and his crew melted down the gold and recast it in other forms to avoid detection.
Authorities say that at least one of the elderly victims committed suicide after losing $2 million of his money to Ahmed and his theft ring.
The FBI warns that federal agents will never ask citizens to hand over cash or gold and especially won’t ask for cryptocurrencies. They also added that no federal authorities will deal with you in personal visits or via emails. And if anyone has already dealt with those asking for gold or cash, they should contact the FBI immediately.
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