Six people have been arrested in connection with a $2.8 million “gold bar” scam in Texas that targeted at least six elderly victims.
The Friendswood Police Department said in a statement on social media that an investigation into the scam began in December 2025 after an 81-year-old resident was persuaded to convert $766,000 into 177 Canadian Gold Maple Leaf coins.
The scammer pretended to be a government employee and told the victim that his financial accounts had been compromised, according to police. The scammer then instructed the victim to buy gold to “protect” their assets.
As investigators looked into the case, they later discovered that a similar scheme targeted a 76-year-old resident in September 2025. During that time, the victim lost $134,000.
The first two suspects were identified at the beginning of the investigation, the police found that one suspect drove to the deceased’s home to collect gold.
Smitaben Thakor He was first arrested on December 29, 2025, for stealing from an elderly person. After two days, Samirali Ghabrani was arrested on December 31, 2025, and charged with theft of property valued at $300,000 or more.
Authorities said Ghabrani, 48, was being held with an inmate being held at the Galveston County Jail, according to the statement.
After the initial arrest, the investigation into the case expanded and detectives executed search warrants at a home in Richmond and a restaurant in Houston.
During a search of a Richmond home, police found 157 of the 177 gold coins stolen from the 81-year-old victim. Authorities also seized evidence they believe is related to a broader fraud operation.
Mudassir Iqbal Lakhani again Iqbal Ibrahim Lakhani both were arrested at a Richmond residence and charged with theft of property valued at $300,000 or more, according to police. Both Mudassir, 35, and Iqbal, 60, have bond set at $5 million.
On January 9, investigators executed a search warrant at a jewelry business in Sharpstown. They later seized more evidence linked to the scam.
Police were able to recover the rest of the gold that was stolen on February 2 from a Missouri City residence.
A month later, police executed another search warrant at a home in Kingwood on Wednesday, March 4.
Police have made an arrest in connection with the kidnapping of Savannah Guthrie’s mother, Nancy Guthrie. The Pima County Sheriff’s Department, with the assistance of the FBI, has brought in a person for questioning in connection with the disappearance of this 84-year-old man, law enforcement confirmed on Tuesday, February 10. […]
Zohaib Muhammad he was then arrested on charges of theft of property valued at $300,000 or more and organized crime, according to police. Samir Ali he was also arrested during a traffic stop near his home for the same crime as Muhammad, 39. Both Muhammad and Ali, 36, have been set on $5 million bonds.
During the investigation, the police identified four other victims who lost approximately R1.9 million due to this scam. Police also say a broader investigation is ongoing, which they believe involves contacts outside the United States.
“The swift and precise actions of the Friendwood Police Department in this case demonstrate our unwavering commitment to protecting our community, especially our elderly citizens who are often targeted by criminals,” Police. Officer Josh Rogers said in a statement, adding that local prosecutors and the FBI are critical during the investigation.
All six suspects are in custody. At the moment it is not clear whether any of them have put themselves in their shoes or are involved in the legal process due to their arrest.
