Florida Gold Bar Scam Melting and Laundering

Current Investigation

• Florida Hub: The Orlando Gold Refinery in Altamonte Springs was raided by the Seminole County Sheriff’s Office in coordination with Texas authorities.
• Arrests: Two men,Timothy Michael Odell and John Wesley Timmerman (the refinery owner), were arrested in Florida on charges including organized criminal activity and financial abuse of the elderly.
• Multi-State Scope: Simultaneous raids also hit Malani Jewelers locations in Richardson, Texas, and Decatur, Georgia.
• Total Seizures: Investigators have recovered roughly $150 million in gold bars and cash linked to victims worldwide.

How the Scam Works

1. Impersonation: Fraudsters contact victims (primarily seniors) posing as FBI, CIA, or other law enforcement.
2. The Threat: They claim the victim's bank account has been "hacked" or is part of a legal investigation.
3. The Pressure: Victims are told to withdraw their savings immediately and buy physical gold bars for "safekeeping" or to "protect" their assets.
4. The Pickup: A courier is sent to the victim's home or a public location to collect the gold, often using a specific "code word".
5. Laundering: The stolen gold is taken to refineries (like the one in Altamonte Springs) to be melted down and converted into jewelry to erase its origin.

Red Flags

• Government Couriers: Real government agencies will never send a courier to pick up gold, cash, or cryptocurrency.
• Secrecy: Scammers often demand you tell no one; this is a tactic to prevent family or bank staff from intervening.
• Reporting: If you or a loved one has been targeted, contact the National Elder Fraud Hotline at 1-833-372-8311 or file a report at ic3.gov