Nationwide Gold Scams Cost Victims Hundreds of Millions

Federal authorities warn of sophisticated 'gold courier' schemes targeting people across the U.S.

Published on Feb. 27, 2026

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Concerns about the economy have driven many people to invest in gold, and scammers are taking advantage of this by running sophisticated 'gold courier' schemes that have cost victims hundreds of millions of dollars nationwide. The scams typically involve impersonating government agencies or banks and pressuring people to withdraw cash to purchase gold, which is then collected by a 'courier'. Federal and state authorities are working to shut down these operations, some of which originate overseas, and are urging the public to be wary of any high-pressure demands to buy gold.

Why it matters

As gold prices continue to rise, scammers are exploiting people's desire to protect their money by luring them into these gold investment schemes. The scale of the losses, with over $262 million stolen in just 10 months, highlights how widespread and damaging these scams have become. They can devastate victims financially and undermine trust in legitimate gold investment opportunities.

The details

The scams typically begin with a call, email, text or pop-up claiming the victim's bank accounts have been compromised. Scammers then pressure the victim to withdraw large sums of cash and use it to purchase gold bars or coins from a dealer, claiming the gold will keep the money safe. Once the gold is purchased, the victim is told to hand it over to a 'courier' who comes to their home or a meeting spot. Authorities say many of the operations originate overseas, but rely on domestic accomplices as the couriers to collect the gold within the U.S.

  • Between January and October 2025, 'gold courier' scams resulted in over $262 million in losses nationwide, according to new data.
  • In Washington state, the FBI and local police arrested two people, Antonio Pena and Brandi Durst, during a sting operation for their alleged role in collecting gold bars from victims across multiple states.

The players

Federal Bureau of Investigation (FBI)

A U.S. federal law enforcement agency that is investigating the rise in 'gold courier' scams across the country.

Antonio Pena and Brandi Durst

Two individuals arrested in Washington state and charged with federal conspiracy to commit money laundering for their alleged role as domestic couriers in the gold scam schemes.

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What’s next

Federal and state authorities are continuing to investigate the gold scam operations, shut down call centers believed to be involved, and arrest domestic couriers. The FBI is urging anyone who believes they have been targeted or victimized to report it immediately.

The takeaway

These sophisticated gold investment scams have cost victims hundreds of millions of dollars, highlighting the need for greater public awareness and vigilance against high-pressure demands to quickly purchase gold or other valuables. Authorities are working to disrupt these schemes, but individuals must also be cautious of any unsolicited calls, emails or messages claiming their accounts are compromised and requiring immediate action.