Check scam used to buy $135K worth of gold

logger7

Date:10/11/23

Offense: Fraud/Bad Check

Investigating Phoenix PD

Incident location: Mesa, AZ

The suspect pictured below entered the Sun West Credit Union and used a fake driver's license to obtain a cashier's check for $135,000. The suspect then took the check and purchased 50 Rand refinery gold bars and 19 Krugerrands from a local dealer.

The check was deposited and cleared the same day but was voided 3 business days later. Phoenix police are currently investigating Case Number: 2023-1590670.

Investigators are seeking any additional information on this incident.

Anyone with information contact:
Doug Davis
817-723-7231
Doug@numismaticcrimes.org

johnny9434

thats awful, hope he gets good stiff jail sentence

rte592

So he impersonated someone else and took money from their bank account.

blitzdude

@rte592 said:
So he impersonated someone else and took money from their bank account.

Sure sounds that way. He obviously he had some knowledge of the person he was impersonating. Enough to know their personal details and enough to know they had at least $135K parked in their checking account. Sounds like either an inside job at the bank or a family member of the victim. Hope all involved recover their funds / merchandise. RGDS!

tyler267

So who absorbs the loss. The bank or the dealer?

rte592

@tyler267 said:
So who absorbs the loss. The bank or the dealer?

In My Opinion
The bank was defrauded, they should go after the thief.
The dealer took the bank check in good faith...the bank check was good because it was from the bank.
But who knows?? Probably the one with the best lawyers and deepest pockets wins.
If the police recover the gold, arrest the thief, they could maybe back up the transaction.

asheland

I hope he gets a good jail sentence!