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Home » Colorado woman scammed of $120K in gold bars
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Colorado woman scammed of $120K in gold bars

March 1, 2024No Comments3 Mins Read
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CASTLE ROCK, Colo. (KDVR) — A suspect is behind bars after Douglas County deputies say he scammed a 79-year-old woman in Highlands Ranch out of more than $120,000.

In July, the victim got a pop-up on her computer saying she had a virus and to call the “888” number on her screen for help.


“The victim called the number, which connected her with our suspect,” Douglas County Sheriff Darren Weekly said.

The suspect on the other line, 26-year-old Sagar Patel of New Jersey, claimed to be a federal agent. According to deputies, Patel told the victim that her personal bank account had been compromised, and to fix the problem, she needed to buy two gold bars.

“The suspect instructed her to use her personal money to buy two gold bars each valued at more than $60,000 a piece,” Weekly said.

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A week later, the victim met the suspect at a convenience store in Littleton to hand over the gold. Deputies say the suspect assured her she would be reimbursed with a check, but that never happened. Fortunately, the victim got the license plate number, which led police to Patel.

“These suspects want to meet with the victims in person, and so that’s an alarming trend we’re seeing recently within the last year,” Weekly said.

Sagar Patel, 26, was arrested after investigators say he scammed a woman out of $120,000 (Douglas County Sheriff’s Office)

Elder scams in Colorado: What to look out for

This is just one example of the many scams targeting older Coloradans.

“They tend to be trusting, they tend to want to listen to people, they tend to want to be helpful. And because of that, they are more susceptible to these types of scams,” Castle Rock Police Chief Jack Cauley said.

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Douglas County has a task force dedicated to fincancial crimes, but law enforcement say it’s important to have conversations with your loved ones to avoid scams in the first place.

Make sure to watch out for messages that have an extra sense of urgency. If anyone asks for payment in the form of a money order, gift card, cryptocurrency or gold, it is likely a scam. If you think you have been a victim of fraud, immediately call the police.

“Our parents, our grandparents, they’ve worked their entire lives to save for retirement, and that retirement day comes and somebody comes along and decides they’re going to take that away from them. That’s heartbreaking,” Cauley said.

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