Monetary Gold Joins Law Enforcement to Combat Precious Metals Scams

The initiative, developed alongside New Jersey community leaders and law enforcement, aims to demystify the tactics used by organized fraud groups. According to Police Chief Michael Horton and Detective Milford Colbath, victims are often manipulated through fear and manufactured urgency, with scammers instructing them to convert assets into precious metals before dispatching a courier to collect them.

Monetary Gold CEO Miro Darakjian emphasized that no legitimate entity—whether a bank, government agency, or reputable dealer—will ever require a customer to surrender assets to a courier. The company decided to take a public stand after discovering bad actors were misusing its own name to deceive consumers. By collaborating with local authorities, Monetary Gold helped lead to the successful apprehension of individuals involved in such schemes.

Beyond immediate enforcement, the campaign stresses the necessity of verifying information independently. Officials urge families to watch for red flags, such as demands for secrecy, high-pressure tactics, or instructions to liquidate accounts under the guise of asset protection. For those concerned about potential fraud, resources like the DOJ National Elder Fraud Hotline (833-372-8311) and IC3.gov remain primary channels for reporting suspicious activity.