North Texas jewelry stores raided over $74 million gold scam

Authorities allege the stores were part of a network laundering stolen gold purchased by elderly victims.

Published on Feb. 25, 2026

Got story updates? Submit your updates here. ›

Federal and state law enforcement raided three jewelry stores in Texas, Georgia, and Florida, seizing over $50 million worth of gold. The stores are accused of being part of a network that laundered gold stolen from elderly victims of a widespread fraud scheme known as the 'gold bar scam', where scammers pose as law enforcement and trick victims into withdrawing cash to buy gold that is then handed over to couriers.

Why it matters

This case highlights the growing problem of fraud schemes targeting senior citizens, who are often vulnerable to such scams that can wipe out their retirement savings. The coordinated raids across multiple states suggest the scale and sophistication of the alleged criminal operation.

The details

In the latest raid, a team of 20 SWAT officers swept into Malani Jewelers in Richardson, Texas, detaining 13 employees and seizing crates of gold. Authorities allege the jewelry store was part of a network of businesses that laundered stolen gold purchased by victims of the 'gold bar scam'. Similar raids were conducted simultaneously in Atlanta and Orlando, recovering over $50 million in gold. Last month, raids on two other North Texas jewelry stores, Tilak Jewelers and Saima Jewelers, also resulted in the seizure of millions in cash and gold.

  • On February 25, 2026, federal and state law enforcement raided Malani Jewelers in Richardson, Texas.
  • In early 2025, a task force set up by the Collin County Sheriff's Office began arresting more than a dozen suspected couriers from around the Dallas-Fort Worth area.
  • In November 2025, Robert Brown, a retiree in Little Elm who lost $2 million to the scam, passed away without recovering the money.

The players

Malani Jewelers

A jewelry store in Richardson, Texas that was raided by authorities for alleged connections to a $74 million gold scam targeting seniors.

Tilak Jewelers

A jewelry store in Irving, Texas that was raided last month by authorities for alleged connections to the gold scam.

Saima Jewelers

A jewelry store in Frisco, Texas that was raided last month by authorities for alleged connections to the gold scam.

Robert Brown

A retiree in Little Elm, Texas who lost $2 million to the gold bar scam and passed away in November 2025 without recovering the money.

Katie Brown

The daughter of Robert Brown, who spoke about the impact of the gold scam on her father's retirement savings.

Got photos? Submit your photos here. ›

What they’re saying

“It cleaned out his retirement savings.”

— Katie Brown, Daughter of Robert Brown (CBS News Texas)

What’s next

The judge in the case will decide on Tuesday whether or not to allow any of the detained employees from Malani Jewelers out on bail.

The takeaway

This case highlights the devastating impact of fraud schemes targeting the elderly, who can lose their life savings to sophisticated criminal operations. It also underscores the need for stronger consumer protections and increased vigilance to prevent such scams from occurring in the first place.