Simultaneous raids on two jewellery businesses in the DFW Texas cities of Irving and Frisco are being described as the culmination of a year-long investigation by the Collin County Sheriff’s Office into a large-scale financial fraud targeting elderly residents. Authorities say the operation is linked to hundreds of victims across Collin County and throughout Texas. According to CBS News Texas, the raids were carried out on Thursday, targeting Tilak Jewellers in Irving and Saima Jewellers in Frisco. CBS News was granted exclusive access to the operation, which involved dozens of law enforcement officers working jointly with federal, state, and local agencies. Investigators with the Collin County Sheriff’s Office said the jewellery stores were suspected of conducting transactions involving gold obtained through fraudulent schemes that preyed on senior citizens. Officials reported that significant quantities of gold and cash were seized from the locations and taken into evidence. An armoured vehicle was brought in to transport the seized assets, underscoring the unusually high value of the recovered material. Collin County Sheriff Jim Skinner said in unequivocal terms that anyone attempting to defraud residents in Collin County would be pursued and held accountable. He noted that cases involving elderly victims are often particularly complex, as many victims delay reporting out of fear or embarrassment. Despite these challenges, law enforcement agencies were able to dismantle what officials described as a coordinated criminal network through a sustained and methodical investigation. According to official figures, approximately two hundred senior citizens in Collin County, all over the age of sixty-five, were victimised in the scheme. Losses in Collin County alone are estimated to exceed seven million dollars. Statewide, authorities believe the total financial damage from the fraud approaches fifty-five million dollars. The Sheriff’s Office said more than four hundred thousand dollars has already been returned to victims, with additional restitution expected following the liquidation of seized gold and assets. As a result of the investigation, five individuals have been arrested. They have been identified as Pranjal Jigneshkumar Patel, Simarjeet Singh Gill, Satish Amrutlal Kumar Patel, Arpit Desai, and Radhakrishna Yerramneni. Court records in Collin County show that formal criminal charges have been filed against some of the suspects, while other cases are currently under review by a grand jury and being examined under organised crime statutes. The charges include financial exploitation of elderly individuals and large-scale theft. Available public records and arrest documents indicate that all of the arrested suspects are reported to be of Indian origin. Law enforcement officials, however, have avoided linking nationality to criminal conduct in their official statements. Immigration-related detainers have appeared in connection with some of the suspects, suggesting federal agencies are also monitoring the case. At this stage, no formal federal indictment has been publicly announced. Authorities emphasised that the investigation remains ongoing. Officials anticipate further legal developments in the coming days, including the possibility of additional charges and arrests. The operation is being described as one of the most significant enforcement actions to date in Collin County against financial crimes targeting elderly residents and is being cited by law enforcement as a major investigative success.
Raids on Texas jewellery stores expose large-scale fraud targeting elderly residents
