The Perfect Scam All That Glitters is Not Gold: Gold Bar Scams
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Sep 12, 2025 Eva Rothman shares her harrowing experience of losing her life savings in gold bars due to a tech support scam, warning others about the dangers of deceitful schemes. Her nephew, Rabbi Lyle Rothman, provides insights into the emotional toll on their family. Michael Kukoulos, a precious metals dealer, reveals how scammers exploit customers seeking gold. Detective Petty discusses his work in tackling these scams through sting operations, emphasizing the need for vigilance as gold bar scams proliferate in a world with soaring gold prices.
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Victim Walks Through The Scam
- Eva Rothman described a tech-support-style call that led her to convert life savings into gold and hand it off to a courier.
- The scammers convinced her she was under investigation and she subsequently lost nearly $700,000.
Dealer Encounters Suspicious Large Purchase
- Michael Kukoulos recalled a customer trying to buy roughly $175,000 in gold and later having the bank block the transfer.
- The sale reversed, costing the buyer a small loss but exposing a scam attempt.
Gold Dealer Helps Set Up Sting
- Michael Kukoulos teamed with local police to stage a gold-bar sting using fake invoices and visible gold displays.
- The staged setup led to photographs sent to scammers and helped law enforcement make an arrest.