MADISON, Wis. (WRN) — The Better Business Bureau and the FBI are warning about scams involving gold.
Lisa Schiller with the BBB says the scams are drawn out and keep victims scared for as long as possible to get money.
“It pressures victims, often older adults, to convert their life savings into gold bars and then turn the gold over to criminals, claiming that they’re going to keep it safe. They say it’s for safekeeping,” Schiller said.
Original reporting put losses at around 3 million dollars, but the FBI says 13 victims have lost a combined $5.3 million in Wisconsin alone.