Streamwood man indicted in New York over gold bullion scam

A 26-year-old Streamwood man was indicted by a federal grand jury in Upstate New York last week on allegations he helped operate a gold bullion scam that victimized an elderly couple, authorities said Monday.

The indictment alleges that from Dec. 1, 2023 to March 29, 2024, Hamish Patel conspired with others to transport across state lines gold bullion that had been taken by fraud, according to federal prosecutors.

They allege Patel picked up the gold bullion from an elderly couple in Brunswick, New York and took it to New Jersey on three occasions.

If found guilty, Patel faces up to 10 years in prison and a fine of up to $250,000.

U.S. Homeland Security Investigations continues to investigate the case, with assistance from the New York State Police, officials said Monday.

This case is part of the Department of Justice’s Elder Justice Initiative, which works to combat elder abuse, neglect and financial fraud and scams that target older adults, prosecutors said.