A wanted New Jersey man was just caught at John F. Kennedy International Airport attempting to leave the U.S. Authorities believe he is the part of a large-scale gold-theft scam.
Muzamil Ahmed, 35, was arrested by Port Authority of New York and New Jersey police after a warrant was issued by Tarrant County District Attorney’s Office (Texas) for engaging in organized crime for theft, financial abuse of the elderly, and money laundering.
He has since been extradited to Texas—described by authorities as a “key player” in the scheme, according to NJ.com.
A $250M Gold-Theft Ring
The operation Ahmed is alleged to be in connection with is much larger than him—it’s reported to be an international scheme, responsible for targeting roughly 200 senior citizens, and more than $250 million stolen.
Victims spanned Tarrant County, Texas, and across the country. Upwards of 40 people have been indicted in connection with the operation.
How It Worked
The scam targeted senior citizens, falsely claiming their bank accounts, Social Security numbers, or personal information had been compromised. Victims were given specific instructions following the alert: withdraw savings, purchase gold bars, buy bitcoin, or keep the money in cash.
Couriers would arrive disguised as federal agents to “secure” the gold or cash from victims.
Ahmed specifically played a key role in this scheme—he set up shell corporations to launder the stolen profits, funneled money and gold to a refinery in Florida to be melted down. Funds were quickly converted into Bitcoin, then transferred out of the country.
Along with Ahmed, couriers, jewelry store owners who melted down the stolen gold, individuals who converted the cash into cryptocurrency, individuals who set up bank accounts used in the scheme, and refinery conspirators who melted down gold were also charged.
A New Jersey man arrested at JFK unveiled a vast criminal network to scam seniors out of $250 million in life savings—one that spanned multiple states, shell companies, and an organized network of crimes.
Scams are evolving. Stay alert, and think twice about that suspicious phone call before doing anything drastic.
Lifelong Jersey resident and Rutgers and FDU alumnus, Tom La Vecchia is publisher of New Jersey Digest, one of the state’s leading lifestyle media brands. When he’s not growing the Digest, he’s raising four kids, wrangling four cats and pretending it’s all under control. His mission: keep Jersey interesting and impossible to ignore.
