The latest arrest in a series of gold bar frauds in Montgomery County, Maryland, has resulted in 23-year-old Neel Patel being held in jail. He allegedly played a role in a scam that wiped out a 64-year-old woman’s life savings, totaling approximately $790,000.
Assistant State’s Attorney Hannah Gleason explained the victim’s situation during a court hearing, stating, “She suffers from mental health disabilities, making her particularly vulnerable to the scam.” The fraudulent scheme involved criminals posing as government agents, convincing the victim that her bank funds were unsafe. She was persuaded to buy gold bars and hand them over to the fraudsters for “safekeeping.”
On two occasions in March, the woman purchased and handed over nearly $800,000 worth of gold bars to alleged scammers in parking lot exchanges. The first exchange involved Patel, who is accused of collecting $330,000 worth of gold in a Walgreens parking lot. Three days later, the woman gave another $460,000 in gold to a different courier.
Authorities linked Patel to the crime through rental car records, surveillance footage, and airline details. According to investigators, Patel flew from Louisville to Northern Virginia, rented a car, and drove to Maryland to collect the gold before returning to New York and then flying back to Louisville. Patel was later arrested at Chicago O’Hare Airport as he attempted to board a flight to Ireland.
Patel’s attorney, Henry Shih, argued that his client’s travel was part of his regular routine, claiming Patel had lived in Kentucky with his girlfriend and planned a vacation to Ireland with his brother. However, investigators stated that Patel’s actions, including using his personal cellphone and email for car and flight reservations, did not reflect someone trying to hide his tracks.
Montgomery County has seen multiple fraud cases involving older residents, including a recent incident where a 74-year-old Bethesda man lost $1.1 million. The scams typically involve impersonators claiming to be government agents, convincing victims to liquidate their assets into gold bars under the pretense of protecting them from imminent danger.
In the ongoing investigation, Patel and another alleged courier, Wenhui Sun, are believed to have worked together in the fraud. Sun was arrested after attempting to collect more gold bars from the victim, who had cooperated with police to set up a sting operation. Sun’s trial is scheduled for December.
Gleason emphasized the significant impact the fraud had on the victim, who has been left in a precarious financial position. The investigation into the gold bar fraud ring continues, with authorities warning residents to be cautious of scammers impersonating government officials.