Federal and state authorities seized more than $50 million in allegedly scammed gold on Feb. 25, during coordinated raids on jewelry stores across Texas, Georgia, and Florida. The operation targeted businesses suspected of laundering assets from a “gold bar scam” that has defrauded hundreds of senior citizens, according to CBS News Atlanta. Investigators allege fraudsters posing as law enforcement pressured victims to purchase gold bars and hand them to couriers. The stores then allegedly melted the stolen gold into jewelry for resale or smuggling.
CBS News Texas reported that Texas victims alone have lost an estimated $74.5 million.
The multi-state investigation has resulted in approximately 20 arrests and identified more than 200 known victims. The stores raided on Wednesday were Malani Jewelers (two locations in Richardson, TX and Decatur, GA); Orlando Gold Refinery in Altamonte Springs, FL; while Tilak Jewelers in Irving, TX and Saima Jewelers in Frisco, TX were raided in late January.
Chilean Burglary Crew Filmed Themselves During $3M SoCal Jewelry Heist (VIDEO)
Four Chilean nationals arrested for stealing over $3 million worth of jewelry from a store in Simi Valley, CA, had filmed themselves breaking through the walls and roof of the family-owned business and later sorting through the loot at their apartment. A video released by the the Ventura County DA’s Office last week shows the perpetrators smashing into the jewelry store — Five Star Jewelry and Watch Repair — from a neighboring candy store with a crow bar, before sorting the stolen watches, bracelets, and other jewelry at their apartment in LA County — at one point, a crew member even reveals his full face on camera. When the crew were arrested on June 10, 2025 some of the burglars were wearing the stolen jewelry while others were carrying the merchandising in bags, according to CBS News.
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Two ‘Jewelry Vendors’ Charged With Falsely Reporting Multi-Million Dollar Robbery
Two men claiming to be jewelry vendors were charged with filing a false report after telling police they were robbed of nearly $2 million in jewelry as they were returning from a trade show in Rosemont, IL. According to CBS Chicago,Pezhman Gilani Yahyavi, 46, and Mahmood Bashang, 30, face disorderly conduct charges after claiming three armed men ran their car off the road and robbed them of 14-karat gold. Investigators found the men had taken out an insurance policy only days before the incident.
Man Charged Over Chicago Double Homicide
A 35-year-old man was arrested in St. Louis, MO, for the double murder of the father and son owners of a Little Village jewelry store in Chicago in November, authorities said.
Prosecutors said ballistics and DNA linked Muhammad Thomas to the murders of Faustino Alamo Dominguez and Luis Alamo. CBS Chicago reported Thomas has a violent 20-year criminal history, including a 2018 prison term for bludgeoning a man with a lamp. He also faces charges for separate 2023 and 2024 shootings and robberies.
