Los Angeles gold dealer
provided key information to law enforcement, helped save customers
millions of dollars.
LOS
ANGELES, July 30, 2024 /PRNewswire/ -- Lear
Capital, a leading precious metals dealer, played a crucial role in
helping the FBI protect customers and foil a sophisticated gold
scheme. On June 14, 2024, a
customer's daughter alerted Lear Capital about her father's
involvement in a fraud scheme under FBI
investigation.
Founder and Chairman Kevin
DeMeritt took the initiative and alerted the FBI
immediately.
Assistant U.S. Attorney Scott
Kerin described the alleged thieves in an
interview with The Chronicle as a "group of predatory
locusts" who target elderly citizens.
Like something out of a movie, the scheme begins with an
alert on the user's computer claiming the computer has been
hacked and urges the user to call a number on the screen. Thieves
pose as government officials, bank representatives, or Microsoft
support experts, convincing victims that their financial accounts
are at risk. They urge victims to buy gold to protect their funds.
When the gold arrives, the thieves persuade victims to hand it over
for "safekeeping" in a federal vault, never to be seen again.
When Lear Capital learned about the fraud, the
Los Angeles precious metals
dealer began verifying each gold bar order by personally
calling customers to ensure they were not being defrauded. In
collaboration with the FBI, this proactive approach successfully
prevented significant financial losses.
"Typically, thieves target older adults and will use an urgent
and aggressive tone, refusing to speak to or leave a message with
anyone other than their targeted victim, and will urge victims not
to tell anyone else, including family, friends, or financial
institutions, about what is occurring," said Douglas A. Olson, special agent in charge of the
FBI Portland field office in Oregon. "The FBI appreciates the assistance of
companies, organizations, and the public in spreading this critical
information to prevent others from becoming victims."
In addition to continuing to assist the FBI in any way they can,
Lear Capital has worked with state regulators to develop a protocol
for contacting customers who may have been impacted. Additionally,
it has put a warning on its website about the scam as a preventive
measure—and with thieves on the rise, Lear Capital is invested in
protecting its clients.
One notable incident involved a customer who was about to hand
over gold to the thieves. Katya
Askar, Lear Capital's director of sales development, warned
the customer of the elaborate scheme, who admitted she was in her
car, gold in hand, ready to meet them. This intervention prevented
a significant financial loss.
Another customer shared their experience on BBB, writing, "I
recently had a close call with a scheme involving the purchase of
gold. The Director of Sales at Lear Capital astutely detected the
scheme and warned me of fraudulent activity. Her intervention
prevented me from being a victim and saved me a very large sum of
money. I want to emphasize that Lear Capital played no part
whatsoever in the perpetration of this scheme and attempted theft.
I highly recommend this company for its high standard of ethics and
its dedication to customer safety and welfare."
Recently, the FBI's Portland
office and the West Linn, Oregon,
police department contacted Lear Capital for help with a couple
involved in the fraudulent scheme. The couple had been directed by
someone impersonating a federal agent to buy another $193,000 in gold bars.
With Lear Capital's assistance, the FBI and West Linn police were able to intervene early
and arrest the suspect.
"As of July 22, 2024, Lear Capital
has worked with the FBI and local law enforcement to successfully
prevent approximately $8 million from falling into the hands
of thieves just between May 22 and July
21," said Kevin DeMeritt,
founder of Lear Capital. "Protecting our customers from
fraud is our top priority. We are committed to
continue our collaboration with law enforcement to ensure our
clients' safety."
About Lear Capital
Founded in 1997 by precious metal expert and analyst
Kevin DeMeritt, Lear Capital offers
investors the chance to diversify their portfolios with unique
approaches to purchasing precious metals, including gold and silver
individual retirement accounts. Employing a team dedicated to
providing investors with real-time information and pricing on gold,
silver, platinum, and palladium, Lear Capital is uniquely
positioned to offer investors the convenience of online
capabilities with the expertise and support of a brick-and-mortar
institution. To date, the team has handled more than $3 billion in trusted transactions.
For more information, please visit www.learcapital.com or
contact:
Matt Konigsmark, Chief Marketing
Officer
(310) 571-0190 Ext. 1299 Cell (504) 919-1162
press@learcapital.com
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SOURCE Lear Capital