Coral Gables, Florida. A 24-year-old man has been arrested in a major cyber-enabled gold fraud case in which a woman was allegedly cheated of nearly $1.9 million, around ₹16 crore, after being misled by individuals posing as federal agents. Authorities have identified the accused as Sumit Bahadur Pandey, who faces charges including grand theft, organized scheme to defraud, impersonating a law enforcement officer during the commission of a felony, and unlawful use of communication devices.
Fake Federal Protection Claim Used to Mislead Victim
According to investigators, the accused and his associates allegedly convinced the victim that her bank accounts and financial assets were at risk. She was told that her money needed to be converted into gold and placed under “federal protection” for safety.
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A person using the name “Lucas” allegedly contacted the victim through unregistered phone numbers. Through repeated communication, the victim was made to believe she was part of a confidential government protection operation.
Police said the fraud relied on fear, urgency and psychological pressure. The victim was allegedly warned through calls and messages that failure to follow instructions could lead to asset seizure or legal consequences.
Gold Bought and Handed Over at Public Locations
Investigators said the victim purchased gold worth nearly $1.9 million between August 2025 and January 2026 from multiple dealers. The purchases were allegedly split into smaller transactions to avoid suspicion.
The gold was later handed over to individuals posing as officials at public locations, including parking lots and retail areas. One of the largest single exchanges reportedly involved nearly $180,000, around ₹1.5 crore, worth of gold handed directly to the accused.
The victim told police she was given different passwords for each interaction and was repeatedly instructed to maintain secrecy. She allegedly met unknown individuals several times at CVS parking lots and nearby public spaces to hand over gold.
Digital Trail Points to Wider Fraud Network
A breakthrough came after forensic analysis of the accused’s mobile phone. Authorities recovered WhatsApp chats, GPS location data, images and videos allegedly linked to the operation.
The evidence reportedly included details of the victim’s identity, vehicle information and meeting points, including a CVS store in Coral Gables. Investigators also found images of gold bars, coins and cash that matched recovered evidence in the case.
Further investigation showed that the accused had rented vehicles from Miami International Airport and Orlando International Airport. Automatic license plate recognition systems also placed suspect vehicles in Coral Gables on key transaction dates.
Pandey was arrested in May 2026 and is being held without bond. Immigration-related holds have also been placed on him. Authorities believe the case may be connected to a larger organized fraud network, with other individuals possibly involved in similar operations across regions.
