An Eastern Oregon woman in her 60s lost $600,000 to scammers after she followed their instructions to buy gold bars and transfer their ownership to them, state officials said.
Officials from the Oregon Department of Justice said they and the Union County Sheriff’s Office intervened after the woman’s sister called the state agency’s consumer protection hotline for help. Police were able to stop the woman from handing over another $300,000 worth in gold bars, officials said.
The money she already lost amounted to most of her life savings, said state Justice Department officials, who are warning the public of this nationwide scam.
According to the department, the scammers told the woman they were federal agents and that she needed to buy gold bars and give the bars to them for safekeeping in order to protect the money in her financial accounts from being frozen or hacked. The woman bought the bars, then met a courier, who picked them up in a parking lot.
After the woman’s sister found out that the woman was planning on giving another $300,000 to the scammers, she called the hotline.
Oregon Attorney General Dan Rayfield described what happened as “heartbreaking.” The Justice Department says government agencies, banks or tech companies never ask people to buy gold or valuable metals and then transfer ownership.
“If something feels off, trust your gut,” Rayfield said in a news release. “It could save your life savings.”
Jenny Hansson, a spokesperson for the Justice Department, said a deputy met with the woman who bought the gold bars, spoke to one of the scammers on the phone while the woman was listening and was able to convince the woman that the scammer was not a federal agent.
Hansson said another woman in eastern Oregon also apparently fell victim to a similar scam, in which she bought $60,000 in silver bars and then was tricked into handing them over.
The Justice Department warns that scammers often try to instill panic in victims by stating that they must take action urgently. Officials recommend hanging up on people who call asking potential victims to withdraw or transfer money. People can report suspicious encounters to the Oregon Department of Justice Hotline at 877-877-9392, the Federal Trade Commission at ReportFraud.FTC.gov or by filing a complaint at OregonConsumer.gov.
©2025 Advance Local Media LLC. Visit oregonlive.com. Distributed by Tribune Content Agency, LLC.
