Two teenagers from Bend, Ore., were arrested earlier this month in connection with what local police are calling a “sophisticated” con.
On March 22, the Bend Police Department said two 17-year-old suspects, whose names have been withheld, were arrested the previous day for selling fake Royal Canadian Mint and Perth Mint gold bars. The duo profited more than $50,000 USD by selling the fake gold to people using Craigslist to find bullion sellers.
“The juveniles were sophisticated and used multiple ways to conceal their identity and scheme,” police said, adding the victims include two 29-year-old men from Bend and another 47-year-old man from Redmond.
Police arrested the teens on suspicion of aggravated theft by deception and conspiracy as well as other felonies. One of the suspects also faces a charge of money laundering.
Police also said the fake gold bars were sold in legitimate-looking packaging.
SASKATCHEWAN TRAFFIC STOP TURNS UP 32 FAKE BARS
Last December, police in Saskatchewan arrested three men and seized 32 fake gold bars during a routine traffic stop.
Members of the Broadview combined traffic services were on patrol on Highway 1 near Broadview, Sask., on Dec. 3, when they stopped a vehicle travelling eastbound for excessive speeding. Police discovered one of the three men in the vehicle had a warrant out for his arrest. After searching the vehicle, officers discovered a considerable amount of cash and 32 bars of gold and platinum with a street value of $50,000-$100,000; however, the bars were later found to be fake, and the three men in the vehicle were determined to be suspects in a number of suspicious sales in Alberta, Saskatchewan and Manitoba.
CAND TO IMPLEMENT FAKE ALERT SYSTEM
The Canadian Association of Numismatic Dealers (CAND) is planning to implement an alert system to warn its dealer members of counterfeit material.
The announcement comes after three CAND members fell victim to unscrupulous sellers of fake bullion last fall.
“If something is known as counterfeit, it will be shared among our members,” said CAND President Michael Findlay, who’s also stepping up as the new editor of Trends next month.
He added the plan is to implement an email broadcast system in addition to adding alerts to the CAND website, which was recently updated.
“It’s beneficial for our members to know what’s going on, and also to be able to inform entities like yours [Canadian Coin News] that this is what we’ve discovered, and that these are the details.”