A New Jersey man pleaded guilty on Tuesday to a scheme in which he and others convinced people in five states to give them gold and cash.
As part of a plea deal, Bharat Awasarmol, 49, pleaded guilty in federal court in Maine to two charges: conspiracy to commit wire fraud, and false statements.
Awasarmol is accused of participating in a scheme in which his co-conspirators, posing as officials from the U.S. Federal Trade Commission, called victims and told them their assets were in danger then convinced them to hand over money and gold.
In a series of calls and WhatApp messages starting in March 2023, the Maine victim was instructed to buy gold and later told to hand it over to a government official for safekeeping. Awasarmol allegedly met the victim at a business in Maine to collect the gold in January 2024, according to court records.
It was while accepting a package from the Maine victim that Awasarmol was intercepted by FBI agents, according to the U.S. Department of Justice.
As part of the conspiracy, Awasarmol also allegedly accepted cash and gold from six other victims, in New Hampshire, New York, New Jersey and Virginia, who were deceived in the same way, according to the Justice Department.
Awasarmol faces a maximum prison sentence of 20 years and fine of $250,000 for the wire fraud charge, and a maximum prison sentence of five years and fine of $250,000 for the false statements charge, according to the plea agreement.
