SUSPECTS SOUGHT IN $700,000 GOLD SWINDLE

Boulder police are searching for suspects who used false identities to swindle people out of a total of $700,000 in gold. 

Wielding fake documents and employing ruses, the suspects convinced the individuals to liquidate their savings and purchase gold bars in May and June.

"These scams are sophisticated, and the suspects work hard to create a sense of urgency and fear," police said. "They convince victims that their money or assets are in immediate danger and that transferring those assets is the only way to protect themselves."

The suspects posed as representatives of the Federal Trade Commission, the Internal Revenue Service and private firms.

Police described one of the suspects as an Asian male, about 25 to 35 years in age, standing between 5-foor-8 and 5-foot-9 tall with a slight build, thick and wavy black hair that stood up straight, approximately two to three inches long.

He was driving a gray, or possibly blue-gray, Hyundai - and drove off with the gold.

"The suspects used multiple tactics to make the scheme appear legitimate, including passwords, fraudulent letters, and detailed instructions," police said. "They also told the victim not to discuss the situation with family members, bank employees, or others."

There were two victims in separate cases.

If you have information, contact Boulder Police Investigation Specialist Alex Graber at grabera@bouldercolorado.gov or Detective Sharon Ramos at ramoss@bouldercolorado.gov 

[Photo: Boulder Police]