BOULDER COUNTY, Colo. — The Boulder Police Department is trying to identify a man connected to two fraud investigations involving gold bars.
The first investigation involves a Boulder woman who police said was defrauded of about $200,000 worth of gold bars in May 2026. According to police, the woman said she was contacted under false pretenses by someone pretending to be with Apple, saying they had concerns about a fraudulent purchase.
Police said she was then convinced she was speaking with an agent from the Federal Trade Commission (FTC). According to police, the suspects told the woman that her financial accounts were jeopardized and that other charges originating from her account were involved with illicit activity.
She was then allegedly instructed to liquidate her life savings and purchase gold bars, which she then handed to an “undercover agent” with the FTC.
Police provide sketch of the suspect
According to police, surveillance shows the exchange of the gold bars happened at 10:30 a.m. June 2 in the Iris-area Safeway parking lot at 3325 28th St.
Investigators provided a sketch of the suspect and an image of his vehicle that was captured on surveillance video. According to police, the suspect and suspected driver went by the name “Jason” and may have used the same name when targeting other victims.
Police describe him as an Asian man, approximately 25 to 35 years old, between 5 feet, 8 inches and 5 feet, 9 inches tall, with a slight build. He’s also described as having thick, wavy black hair and providing a four-digit “passcode” corresponding with the victim’s date of birth.
Surveillance video captures suspect’s vehicle
Surveillance video captured a gray or possibly blue-gray Hyundai Ioniq 5 in the area described by the victim, according to police. The vehicle had no front license plate, no sunroof, no roof rails, and there were no other identifiable or conclusive unique markings.
Boulder man defrauded of approximately $500,000
The second investigation involves a Boulder man who police said was defrauded of approximately $500,000 in gold bars in June 2026.
According to police, the man was targeted in an impersonation scam involving individuals posing as representatives of Geek Squad, Best Buy, the IRS, and other organizations.
The suspects instructed the man to liquidate retirement funds and purchase gold to prevent the IRS from seizing his assets. Police said the suspects used multiple tactics to make the scheme appear legitimate, including passwords, fraudulent letters and detailed instructions. They also told the victim not to discuss the situation with family members, bank employees, or others.
The gold was subsequently collected by couriers who came to his residence or met him in a parking lot. Police said the couriers included two Asian men and a white woman driving a white or cream-colored Toyota SUV and that one of the men identified himself as “Alex.”
According to police, the man was later targeted in another similar scam involving a fraudulent Geek Squad invoice. In that case, he was instructed to withdraw $20,000 in cash, send $18,000 to an address in New Jersey through UPS, and deposit another $2,000 into a Bitcoin ATM using a QR code provided by the suspects.
Law enforcement issues warning
In the release, police stated that no federal, state, or local law enforcement agency, or any other government agency, will ever demand payment in gold bars, cryptocurrency, cash, or gift cards.
Law enforcement will also never instruct you to transfer your money or valuables to someone for “safekeeping” as part of an investigation.
However, police said that scammers work hard to create a sense of urgency and fear and convince victims that their money or assets are in immediate danger and that transferring those assets is the only way to protect themselves.
Police are also warning people that victims may be targeted a second time after losing money or valuables in an initial scam.
Contact police
Anyone with information about the case or potential suspect is asked to contact Boulder Police Investigation Specialist Alex Graber at grabera@bouldercolorado.gov or Detective Sharon Ramos at ramoss@bouldercolorado.gov regarding cases 2604753 and 2605840.
Anyone who believes they have been targeted by a scam should stop communicating with the suspect and immediately contact their local law enforcement agency and financial institution.
