Orlando Gold Refinery in Altamonte Springs, Florida, is under investigation as part of a multi-state fraud scheme involving the laundering of gold, authorities reported. The operation allegedly targeted seniors by posing as law enforcement and instructing victims to buy gold bars and transfer them to couriers.
Two arrests were made Wednesday in connection with the scheme. Timothy Odell, 47, faces charges of engaging in organized criminal activity and financial abuse of the elderly. John Timmerman, 48, the owner of Orlando Gold Refinery, faces the same charges.
The scam involved several affiliated businesses across Richardson, Texas, and Decatur, Georgia. Investigators allege that some of the gold was processed, melted, or otherwise handled by these businesses. The Collin County Sheriff’s Office is leading the investigation, with support from the Seminole County Sheriff’s Office.
