MONTGOMERY COUNTY, Md. – A 26-year-old man, Yash Shah, has been arrested in connection with a fraudulent gold bar scheme that defrauded an 88-year-old woman and her 61-year-old daughter of more than $2.3 million.
Shah, from Baldwin, N.Y., is accused of playing a key role in a complex government imposter scam that targeted the elderly women. Authorities revealed that this case marked the first of its kind in Montgomery County, but other similar incidents have occurred since then.
The scam began in February 2023 when an unknown caller posing as a Department of Justice official contacted the victims. The caller falsely informed the mother and daughter that their bank accounts had been linked to serious criminal activities, including human trafficking, child pornography, and illegal gambling.
To safeguard their assets, the scammer instructed the victims to convert their funds into cryptocurrency and gold bars. Over the course of five months, the women followed these instructions, delivering gold bars valued at over $2.3 million.
Working in collaboration with New York authorities, Montgomery County detectives identified Shah as the individual who accepted a delivery of gold bars worth more than $83,000. Following the identification, a warrant was issued for his arrest.
Shah was apprehended in New York and is currently being held in Nassau County, awaiting extradition to Maryland for further legal proceedings.
