Lear Capital Teams Up with FBI to Foil Major Gold Scheme, Saving Millions
Sound like something out of a movie? We couldn't have made this up if we tried.
At Lear Capital, our commitment to customer safety and ethical business practices is unwavering. Recently, we had the opportunity to assist the FBI in disrupting a nationwide gold theft ring, showcasing our dedication to protecting our clients and the broader community. Through our collaborative efforts, we have helped save approximately $8 million from falling into the hands of fraudsters.
It Started with a Call for Help
On June 14, 2024, Lear received a call from a customer’s daughter, alerting us that her father had become entangled in a sophisticated fraud scheme under FBI investigation. Acting promptly, our Founder and Chairman, Kevin DeMeritt, contacted the FBI to provide crucial information that set in motion a series of actions to protect potential victims.
A Nefarious & Elaborate Scheme
The scammers, described by Assistant U.S. Attorney Scott Kerin as a "group of predatory locusts," primarily targeted elderly citizens. The scam began with a deceptive alert on the victim’s computer, claiming it had been hacked. The fraudsters then posed as government officials, bank representatives, or tech support experts, convincing victims that their financial accounts were at risk and urging them to buy gold for protection. Once the gold was purchased and delivered, the thieves persuaded the victims to hand it over for "safekeeping" in a supposed federal vault.
Our Vigilant Response
Equipped with the details of the scam, we took immediate action, verifying each suspicious order by calling every customer individually to ensure they were not about to become victims of fraud. One call even occurred as our customer was in her car en route to meet the thieves!
Our timely intervention after receiving a call from the FBI’s Portland office and the West Linn, Oregon police enabled them to run a sting operation and arrest at least one suspect, preventing the theft of $193,000 in gold bars.
By being proactive partners with the FBI, Lear successfully prevented numerous fraudulent transactions, saving our customers about $8 million from being stolen.
"The FBI appreciates the assistance of companies, organizations, and the public in spreading this critical information to prevent others from becoming victims." said Special Agent Douglas A. Olson of the FBI Portland field office.
Doing the Right Thing
Our commitment to fighting fraud extends beyond individual cases. We have worked closely with state regulators to develop protocols for contacting customers who may be impacted by such schemes. Additionally, we displayed warnings about the scam on our website to alert visitors of the scheme and discourage the sale of certain products we knew to be favored by the fraud ring. We'd rather lose a sale than allow anyone to be victimized.
We take pride in the acknowledgement of our high ethical standards and dedication to customer welfare that some have chosen to share through online reviews of Lear Capital. One grateful customer wrote this review on the BBB:
“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. 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.”
But perhaps our founder said it best:
"Protecting our customers from fraud is our top priority. We are committed to continuing our collaboration with law enforcement to ensure our clients' safety.”
Still think this sounds like a movie plot? Read the press release.
If you believe that you may have been targeted by these criminals, please call us at 1-800-576-9355 so that we can put you in touch with the proper authorities.