FBI Sting on Alleged Gold Bar Fraud

By John Jeffay / August 18, 2022 / www.idexonline.com / Article Link

(IDEX Online) - A man has appeared in court in the US accused of posing as a government official and persuading a woman to buy gold bars worth $330,000.Gaurang Contractor, 38, from New Jersey, is accused of attempted larceny from a person over 60.Police say he claimed to be a government official investigating an identity fraud ring and told the woman to buy the gold from a jewelry store, to "avoid prosecution", and a federal court officer would pick it up from her.The FBI set up a sting operation with fake gold bars and arranged for the suspect to collect them from an undercover car in a parking lot."Local and federal agents moved into the area, at which point the suspect attempted to evade officers," said he Hadley Police Department, Massachusetts."Officers quickly boxed in the suspect and he was taken into custody".A judge in Eastern Hampshire District Court ordered Contractor to be held on $20,000 bail.

Recent News

Market still expecting strong growth for major gold producers

July 27, 2026 / www.canadianminingreport.com

Newmont starts Q2/26 strong, growth expected for gold majors

July 27, 2026 / www.canadianminingreport.com

Gold not the consensus play anymore

July 20, 2026 / www.canadianminingreport.com

Gold stocks drop to lowest levels this year

July 20, 2026 / www.canadianminingreport.com

A rebalancing of gold's ratios versus major commodities

July 14, 2026 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok