An elderly Texas man came close to handing over $500,000 in life savings after scammers posing as federal authorities convinced him that converting the money into gold was necessary to protect it.
The Friendswood resident discussed the situation with a social worker, who recognized the warning signs and persuaded him to contact police before the handoff was completed.
The investigation led to the arrests of three California men. Friendswood police identified them as Sukhvinder Singh of Lathrop, Daman Preet Singh of Riverside and Mandeep Singh of Los Angeles.
Sukhvinder Singh faces charges of theft of more than $300,000 and organized criminal activity in Galveston County. Daman Preet Singh and Mandeep Singh are charged with organized criminal activity. The allegations have not resulted in convictions, and all three are presumed innocent unless proven guilty.
The Fake Federal Agent Spent Three Weeks Building the Story
The victim spent approximately three weeks communicating with someone he believed was a federal agent, Friendswood Police Detective Steven Sills told ABC13.
The caller claimed the man’s Social Security number had been compromised and told him his savings were in danger. He was instructed to convert the money into gold coins rather than leave it in his financial accounts.
The plan ended after the victim told his social worker what was happening. She urged him to report the situation to police, allowing investigators to arrange a controlled transaction instead of letting the gold reach the people behind the calls.
Police Followed the First Suspect to a FedEx Location
Investigators arranged the controlled handoff for August 25. Police say Sukhvinder Singh arrived to collect the assets and was followed to a FedEx location inside a Walmart in Pearland.
Packages containing the gold were prepared for shipment before officers arrested him as he left the store, according to FOX 26 Houston.
A judge set Singh’s bond at $1 million. Authorities also placed him on a federal immigration detainer.
Scammers Later Spoofed the Friendswood Police Department
Investigators say the calls continued after Singh’s arrest. The people contacting the victim changed tactics and used caller ID spoofing so that incoming calls appeared to originate from the Friendswood Police Department.
At one point, a caller allegedly impersonated the detective who was actually investigating the case. Police said evidence gathered during this stage led them to Daman Preet Singh and Mandeep Singh.
Authorities accuse the two men of having leadership roles involving the coordination, financing and laundering of proceeds connected to the operation.
Detectives Traveled to California for Two More Arrests
Friendswood investigators obtained Galveston County warrants and traveled to California in September with assistance from local law enforcement agencies.
Daman Preet Singh was arrested September 9 as he left his Riverside residence. Investigators also searched the home and recovered evidence they believe is connected to the case. His bond was set at $10 million.
The following day, detectives located Mandeep Singh at his Los Angeles residence with assistance from the Los Angeles Police Department’s Foothill Division. His bond was set at $5 million. Both men remained in California custody pending extradition to Galveston County when Friendswood police announced the arrests.
Friendswood Police Previously Investigated a $2.8 Million Gold Scheme
The case follows another large gold fraud investigation handled by the same department earlier in 2026. In March, Friendswood police announced six arrests in an operation linked to approximately $2.8 million in losses involving elderly Texans.
That investigation began with an 81-year-old Friendswood resident who had been persuaded to convert approximately $766,000 into 177 one-ounce Canadian Gold Maple Leaf coins. Detectives recovered all 177 coins.
Police later identified additional victims in Humble, Cypress, Cleburne and New Braunfels.
Government Agencies Will Not Ask You to Protect Savings With Gold
The Federal Trade Commission warns that real government officials will not instruct people to buy gold, withdraw cash or move money to supposedly protect it from fraud or seizure.
Caller ID is not proof that a call came from law enforcement or another government agency. Anyone receiving an unexpected warning about a compromised Social Security number, bank account or criminal investigation should end the call and contact the agency independently through an official website or verified telephone number.
Instructions to keep the situation secret or avoid speaking with relatives, bank employees, social workers or police are additional warning signs. Discussing the demand with someone trusted can expose a scam before money or valuables leave the victim’s control.
Anyone who has already purchased gold or prepared cash or other valuables for pickup should stop the handoff and contact local law enforcement. Phone numbers, messages, receipts, shipping information and documents supplied by the caller should be preserved for investigators.