Two Gujaratis charged in $653,000 US gold bar scam

AHMEDABAD: Kenosha prosecutors in the US have filed felony charges against two Gujaratis based in the Chicago suburbs for allegedly siphoning off more than $653,000 worth of gold from an elderly woman in North Kenosha. Investigators say this is part of a wider, internationally coordinated scam. The charges were filed on Nov 20.

The Kenosha County District Attorney's Office has charged Jagdishkumar Nandani and Chintan Thakkar with money laundering over $100,000 and theft of movable property over $100,000.

Investigators said the scheme began when the woman received repeated calls from a man falsely claiming to be a federal agent. The caller allegedly told her that her bank accounts were hacked and linked to criminal activity, and that the safest option was to convert her savings into gold. "This was a deliberate attempt to trap a vulnerable elderly citizens," said an officer familiar with the case, adding that such calls often involve trained handlers operating from overseas.

The woman handed over $332,750 worth of gold on March 1 and another $139,500 on March 15 at her home, believing she was cooperating with federal authorities. Officers said she later sold her house, fearing it too was compromised, and converted that amount into gold before parting with it. Her total loss exceeded $653,000.

According to court records, police in Addison, Illinois, detained Nandani in March. Officers said he admitted to picking up gold in Kenosha, and phone-location data placed him near the victim's residence on the dates of the handovers. The criminal complaint states that Nandani identified Thakkar as an active partner, and that both men were in contact with individuals in India through messaging platforms. A person known as "Rahul" is suspected of assigning pickup routes and providing instructions.

Officers said Nandani usually retained between $1,000 and $1,500 per pickup, delivering the remaining gold to multiple drop-off points in Chicago. "Most of the proceeds were pushed to handlers outside the US," an investigator said, adding that the two Gujaratis were part of a structured chain.

Kenosha police were alerted after Addison officers found the victim's details in Nandani's phone. Arrest warrants have been issued for both accused, who are yet to be taken into custody.