Sital Singh has been sentenced to four years in federal prison for his role in a multi-state scheme that stole millions from elderly victims, including residents of Missouri. U.S. District Judge Matthew T. Schelp also ordered Singh, 43, to pay $6.6 million in restitution.
Singh was the last of five co-conspirators to be sentenced. All five pleaded guilty to conspiracy to commit wire fraud. Singh, along with Chintankumar Parekh, 52, and Mehulkumar Darji, 42, acted as “handlers” who collected gold from victims and paid couriers, while Dariona Lambert, 24, and Zhamoniq Stevens, 24, served as couriers transporting gold bars and coins.
Special Agent in Charge Chris Crocker of the FBI’s St. Louis Division described Singh and his co-conspirators as “parasites” whose crimes devastated elderly victims, including a couple in their 90s who lost their life savings intended for their disabled adult child.
Special Agent Crocker said the FBI would continue to dismantle such networks in the U.S. and pursue the ringleaders overseas.
The fraud involved overseas scammers contacting elderly victims by phone and email, falsely claiming their bank accounts were compromised and instructing them to buy gold to protect their savings.
Authorities estimate the overseas operators collected $9.3 million.
In one case, an 82-year-old St. Louis woman was told her accounts were at risk and persuaded to buy approximately $250,000 in gold. Lambert, acting as a courier, was intercepted by law enforcement after flying from Florida, while Parekh fled to Pittsburgh.
It is reported that Singh handled gold pickups in Tennessee, Texas and Wisconsin, while Parekh and Darji operated across Arizona, California, Florida, North Carolina and Pennsylvania. Lambert and Stevens travelled widely as couriers, including to Massachusetts, New York, Ohio and Texas.
Darji and Parekh, both in the United States unlawfully, will be deported after serving their four-year sentences. Lambert was sentenced to two years and Stevens to 18 months, with all ordered to pay restitution.
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