BREAKING NEWS: DA, Cops, and Lawmakers Sound Alarm On Gold Scam

Suffolk County officials are warning residents about a sophisticated "gold bar scam" targeting older adults after investigators prevented one victim from losing $140,000, urging anyone contacted by supposed government officials, bankers or tech support workers to hang up and call the organization directly.

District Attorney Ray Tierney said scammers use phone calls, texts, emails and computer pop-ups to convince victims their finances have been compromised, then pressure them into liquidating savings and purchasing gold bars supposedly for safekeeping.

“These criminals steal the life savings of hardworking men and women who spent decades building up those finances,” Tierney said. “A few extra minutes of caution can protect a lifetime of savings.”

Tierney said victims should immediately contact police if they suspect fraud. “We would much rather talk to a victim and prevent a crime than investigate it after the assets have already been liquidated and gone,” he said.

Tierney highlighted the work of Suffolk County Police detectives Anthony DeLuca and Thomas Perillo, supervised by Detective Sergeant Tom Gabriel, who stopped a Suffolk County woman from purchasing a one-kilogram gold bar after scammers claimed a computer virus had compromised her accounts.

Detectives canceled checks, restored the money and secured her accounts.

County Executive Ed Romaine praised Tierney and investigators for staying ahead of evolving scams. “There are thieves out there that don’t care, that want to just steal your money however they can do it,” Romaine said. “Every time they come up with a clever way, this DA is trying to stay a step ahead of them.”

Police Commissioner Kevin Catalina delivered the strongest warning.

“One hundred percent of the time, if somebody asks you to liquidate your assets and buy gold, it’s always a scam,” Catalina said. “They are very good at their craft and extremely convincing. With the increased use of AI, it makes their scams even more convincing.”

Catalina urged residents to warn elderly relatives and report suspicious activity immediately, emphasizing that no legitimate government agency, bank or law enforcement organization will ever direct someone to protect savings by buying gold and surrendering it to a courier.

Officials said awareness and communication remain the strongest defenses.

Taxpayers should ignore unsolicited messages, independently verify any claimed emergency through publicly listed phone numbers, and never keep financial conversations secret because of threats or instructions from strangers.

Authorities said quick reporting can improve the chances of recovering stolen assets before they disappear.