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Gold Bar Scams: From counterfeit gold bars to fake letters from the 'FTC' claiming you need to trade money for gold

Anytime you have to pay money to get money, it's a scam.
Credit: misunseo - stock.adobe.com

GREENSBORO, N.C. — In Case You Missed It:  Counterfeit gold bars and coins are making their way through the Triad.  Reidsville Police posted on Facebook about fake gold bars and fake coins sold at Kathye's Pawn. As it turns out, the owner of the pawn shop turned himself in on three counts of Obtaining Property by False Pretenses. 

This gold bar situation is just one of many. Here's another, it starts with a letter. The letter claims to be from the Federal Trade Commission. In the fake letter, you're told you're entitled to money due to a lawsuit and you need to contact an attorney. The name in the letter was Mike Rodgers, but it could be another name, so don't get stuck on that...

This fake attorney tells you you must convert your money to gold. Of course, he helps you do that, but really he takes your money. 

Other gold bar scams use a text, a call, or even a computer pop-up. Prosecutors are working to warn seniors about these scams as more and more cases are reported.  

"The government does not communicate with you by text message or phone calls, it's just not the way they do it."

Some of the people who contacted law enforcement in Maryland about this scam have lost thousands and thousands of dollars. But no matter whether it's gold bars a lottery, a prize, or  a family member left you something, 

Anytime someone says you have to pay money,  fees, or taxes first to get it... it is always a scam.

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