Pennsylvania Senior Loses $683,000 in Gold Bars After Scammers Pose as Bank Officials

Scammers have drained hundreds of thousands of dollars from an elderly Pennsylvania woman by directing her to purchase and surrender gold bars under false pretenses.

The 78-year-old resident of South Whitehall Township fielded calls from people pretending to represent American Bank who claimed her identity and Social Security number faced compromise, reports The Morning Call.

Attempts to wire funds failed after her bank rejected the transfers to invalid accounts.

The callers then instructed her to acquire gold bullion and transport it to specific spots in the Allentown area.

She completed four separate deliveries that handed over $550,000 in gold to various couriers.

Police observed her pass an additional $133,000 in gold directly to one of the men outside her senior living facility.

Authorities charged Jiwan Chen, 57, and Tianhang Zhou, 62, both of New York, with theft, theft by deception, receiving stolen property, financial exploitation of a care-dependent person, criminal use of a communication facility, and conspiracy.

Both suspects remain held in Lehigh County Jail on $500,000 bail each.

Such schemes often exploit fears about identity theft to pressure victims into liquid assets like precious metals.

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The post Pennsylvania Senior Loses $683,000 in Gold Bars After Scammers Pose as Bank Officials appeared first on The Daily Hodl.