MARTIN COUNTY — A Martin County senior citizen recovered $600,000 after nearly losing his entire life savings in a gold bar scam, according to the Martin County Sheriff's Office.
The victim was contacted by someone claiming to be from his financial institution and was told his bank account had been compromised. The scammer then convinced him that the safest way to protect his money was to “back it up” with gold.
The victim was instructed to send $600,000 to a legitimate gold vendor. The gold was supposed to be picked up by a third-party driver and delivered to the bank.
The victim initially completed the transaction but later became concerned and went to his bank. After he explained what had happened, bank personnel recognized it as potential fraud and advised him to contact the Martin County Sheriff's Office.
Deputy Jasmaine McKinney responded and contacted the gold vendor directly.
McKinney worked with the victim and the business to stop the transaction. The gold had not yet been picked up or shipped.
The vendor cooperated with law enforcement, canceled the transaction and helped ensure the victim's money was returned.
Earlier this week, the victim confirmed that he had received a full refund of the $600,000.