Gaurang Contractor, 38, an Indian citizen living in Jersey City, NJ, pleaded guilty on March 27, 2023, to one count of conspiracy to commit wire fraud. The contractor was previously arrested on state charges in August 2022 and later indicted by a federal jury in December 2022.
The conspiracy resulted in a Massachusetts woman converting her bank account funds into gold as she was tricked into believing that her account had been compromised by drug traffickers. A man posing as ‘Oscar White’ from the US Drug Enforcement Administration (DEA) contacted the victim in early August 2022 and told her to convert her monies and gave her the name of the jewelry store.
Oscar White then told her to leave the gold in an unlocked vehicle and promised to send a court officer for the safekeeping of the gold. However, at this stage, the victim got suspicious and contacted law enforcement.
However, not knowing this, the contractor tried to get away with two buckets of gold that the law enforcement officers laid as a trap and was eventually arrested. The charge means 20 years in prison and three years of supervised release, and a fine of up to $250,000. The proceedings are on.