A 37-year-old Indian citizen living in Illinois, Syed M. Makki, pleaded guilty in federal court on November 25, 2025, for participating in an “elder fraud conspiracy in which victims liquidated savings and retirement accounts to buy gold bars, coins, and cash.”
To date, ten victims have been identified, with losses exceeding 6 million dollars.
According to a statement issued on November 25 by the U.S. Attorney’s Office for the Western District of Missouri, Makki pleaded guilty before U.S. District Judge Greg Kays to one count of conspiracy to commit wire fraud. Prosecutors said Makki admitted that, between 2023 and March 2024, he acted as a courier, collecting gold bullion and cash from victims and delivering it to co-conspirators.
Investigators said the scheme relied on malware placed on victims’ computers that displayed a phone number to call. When victims reached out, conspirators posed as “Microsoft” employees, banking officials, government representatives, or law enforcement officers. They convinced elderly victims that their identities had been compromised, that their money was unsafe in financial institutions, and in some cases, that the victims were assisting law enforcement.
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Once trust was established, the victims were urged to liquidate bank and retirement accounts and use the funds to purchase gold bullion in the form of bars or coins. After the gold was delivered to their homes, conspirators instructed them to surrender it for “safekeeping” to a courier, including Makki.
In some instances, victims were told to package the gold and address it to the “Department of Justice” under a specific name, furthering the illusion that they were interacting with legitimate officials. Makki and others then retrieved the packages and transported the gold or cash across state lines.
“On March 25 and 26, 2024, Makki picked up 16 gold bars, weighing one kilogram apiece and worth more than $1 million, from victims in Littleton, Co. and Kansas City, Mo,” the statement noted. “On March 27, 2024, Makki transported the gold bars to Illinois to deliver them to co-conspirators. That date, Makki was arrested in possession of the gold bars by a Morgan County, Illinois, Deputy Sheriff and by an Illinois State Highway Patrol Sergeant.”
Under federal law, Makki faces up to 20 years in prison without parole for conspiracy to commit wire fraud. The U.S. Attorney’s Office emphasized that the maximum penalty is set by Congress and that Makki’s ultimate sentence will be determined by the court based on advisory guidelines and other statutory considerations.
A sentencing hearing will be scheduled following the completion of a presentence investigation by the United States Probation Office.
The case is being prosecuted by Assistant U.S. Attorney Kathleen D. Mahoney. The investigation involved the Federal Bureau of Investigation, the Kansas City, Missouri Police Department, the Douglas County, Colorado Sheriff’s Department, the Illinois State Highway Patrol, and the Morgan County, Illinois Sheriff’s Department.
