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An elderly couple in Lancaster County, Pennsylvania, fell victim to a scam that resulted in the loss of over $1.3 million in gold. According to the Pennsylvania State Police, the scam began when an unknown individual posed as a Social Security Administration employee and contacted one of the victims on December 1. The scammer falsely claimed that the couple's Social Security number had been compromised and instructed them to liquidate their retirement assets to purchase gold. The gold was then collected by the scammers under the pretense of securing a new Social Security number.
The incident is part of a known "gold bar" scam, which has been previously reported in the area. In a similar case, a man from Brooklyn, New York, was arrested in July for stealing gold bars worth over half a million dollars from another Lancaster County resident. The investigation into the current case is ongoing, and authorities are working to identify the suspects involved.
WTRF reports that these scams typically involve convincing victims that their financial assets are at risk and that converting them into gold is the only way to protect them. The Pennsylvania State Police are urging residents to be cautious of unsolicited calls and to verify the identity of anyone claiming to be a government official.