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🇦🇹 Austria /Crime & Justice

Gold Fraud in Baden Costs Victims 600,000 Euros

From Die Presse · () German

Translated from German, summarized and contextualized by DistantNews.

At a glance

News Official statement New plan
  • Scammers in Baden, Austria, defrauded approximately 600,000 euros from victims through a gold fraud scheme.
  • Victims aged 50 to 71 handed over precious metals after appraisal by three men in a supposed business location, but did not receive promised payment.
  • Police are seeking information and noted the scammers advertised high gold prices via newspaper ads and flyers, operating from a temporarily rented business space that is now closed.

A sophisticated gold fraud scheme has left victims in Baden, Austria, with losses totaling around 600,000 euros. The scam targeted individuals aged between 50 and 71, luring them with promises of high prices for their precious metals. Three men reportedly appraised the gold in what appeared to be a legitimate business location.

After handing over their valuables, the victims expected to receive payment the following day. However, the promised funds never materialized. The perpetrators advertised their services through newspaper inserts and flyers, boasting about inflated prices per gram for gold. This attracted several individuals who then scheduled appointments.

The business location used for the scam was only rented for a short period and has since been closed, indicating a well-planned operation. The police are actively investigating the case and have requested public assistance, urging anyone with information to come forward. Tips can be submitted confidentially to the Baden police department.

DistantNews Editorial

Originally published by Die Presse in German. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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