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Article updated: 8/28/2012 1:17 PM

Gold-based scam unravels, robbing Poles of savings

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An outlet of the financial institute Amber Gold in Warsaw, Poland.

Associated Press

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It was pretty much all the money Bozena Oracz had after a working life as an accountant: the equivalent of $15,000. She placed it in a fund investing in gold, with the hope of paying for her daughter's studies and getting treatment for a bad knee.Those dreams were dashed when she discovered she had fallen victim to an elaborate fraud scheme that has left thousands of Poles, many of them elderly, facing financial ruin.
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