Police officers arrested four men, including a man from Camden County, who allegedly conspired to commit fraud and stole money from gold investors.
The suspects include a 54-year-old Voorhees NJ man, a 64-year-old Hillside NJ man, a 43-year-old Freehold man, and a 44-year-old resident of Las Vegas, Nevada.
According to federal prosecutors, the suspects defrauded at least two investors out of roughly $800,000 in a gold scheme.
The suspects allegedly persuaded the victims to invest money for commodities trading revolving around the buying and selling of Mexican gold. The suspects allegedly told the investors that they had credit and financial backing to purchase the gold in Mexico.
During a major investigation into the alleged theft scheme, detectives learned that the suspects may have used the stolen money to make mortgage payments and to purchase luxury cars and costly watches.
The four suspects now face federal charges for committing wire fraud.
Three of the fraud crime suspects already secured their releases from police custody by posting separate bond amounts of $200K.
For additional information about this case, read the NJ.com article, “4 Charged with Fraud in Elaborate $800K Mexican Gold Scam.”