Silver Law Group, With Sallah Astarita & Cox LLC, Files Lawsuit For Victim Of A Federal Government Impersonation Gold Scam

iCrowdNewswire

Mar 17, 2026

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Boca Raton, Florida – March 17, 2026 – Silver Law Group, with co-counsel Sallah Astarita & Cox LLC (the “Firms”), has filed a FINRA arbitration claim against a national brokerage firm and a federal court case against a national bank on behalf of an elderly South Florida-based victim of an impersonation / gold bar scam where the victim was contacted by an imposter claiming to be a federal government official. The victim purchased over $4 million of physical gold and seeks several million dollars of damages.

The cases allege that the plaintiff fell victim to a gold scam, whereby fraudsters impersonated government agents, told the plaintiff her savings were at risk, and convinced the plaintiff that she needed to liquidate her savings, buy gold bars, and store them with the fraudsters. Believing the fraudsters, the plaintiff followed their instructions, abruptly liquidated her investment accounts, and funneled millions of dollars through her bank account to purchase gold bars.

Impersonation / Gold Bar Scams Are A Growing Issue

According to the US government, elder financial fraud exceeds $3 billion per year and is growing in prevalence. One particular scam is the impersonation / gold bar scam: victims are contacted by fraudsters impersonating government officials or other people of authority, then using fear and urgency, the fraudsters convince the victim to transfer their savings into physical gold and deliver the gold to the fraudsters for safekeeping. Once the transfers are complete, the fraudsters disappear with the gold.

Brokerage Firms And Banks Owe Their Clients Various Duties

The Firms’ client alleges that brokerage firms and banks owe their clients various duties. Amongst other things, financial institutions have various obligations to monitor for and investigate suspicious transactions, in particular when they involve elder financial fraud. As a customer of two major financial institutions, The Firms’ client expected these large financial institutions to uphold their legal and regulatory duties and comply with published guidance on protecting elder clients from financial fraud.

If a financial institution fails to properly monitor for, fails to appreciate, or downright ignores such suspicious activities, the financial institution may have acted negligently, breached its fiduciary duty to its customer, or engaged in other misconduct.

Silver Law Group And Sallah Astarita & Cox LLC – Let Our Attorneys Help Recover Your Losses

Silver Law Group and Sallah Astarita & Cox have decades of experience prosecuting parties responsible for elder financial abuse and exploitation and frequently co-counsel complex financial fraud matters. The firms have successfully represented investors against some of the largest financial institutions in the United States.

Silver Law Group is led by Scott Silver, a former Wall Street defense attorney and current AAJ Chair of the Securities and Financial Fraud group. Silver Law Group’s attorneys represent victims of securities and investment fraud in class actions, individual lawsuits, and FINRA arbitrations nationwide.

Sallah Astarita & Cox is led by James Sallah, former Senior Counsel in the SEC’s Division of Enforcement in Miami, Florida. Mr. Sallah has served as court-appointed receiver in complex investment fraud matters as well as representing victims of securities and investment fraud in a variety of forums.

Our team of passionate advocates for victims of financial misconduct may be able to help you recover losses from financial abuse or exploitation. Our team of attorneys routinely meets with clients via telephone and videoconference. Most cases are handled on a contingency fee basis, meaning you won’t owe us money unless and until we recover for you.

Call Silver Law Group at (800) 975-4345, email [email protected], or visit us at www.securitiesfraudattorneys.com for a free and confidential consultation. Contact Sallah Astarita & Cox at (561) 989-9080 or visit www.sallahlaw.com.

See Campaign: https://www.silverlaw.com

Contact Information:

Name: Scott Silver
Email: [email protected]
Job Title: Managing Partner

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