STV NewsThree members of a crime gang helped con a Scottish millionaire in a £2m gold bullion scam.
An 86-year-old woman was targeted amid claims her “money was at threat”.
The Lanarkshire-based widow had been contacted from an individual allegedly called Garry Reid stating he worked for the Financial Conduct Authority (FCA).
He said he was carrying out a probe on banks and similar institutions in her local area.
Reid told her to “cash in” her investments and eventually got the woman to use her money to buy the gold bars.
This was then delivered to her home before being collected by crew members posing as “couriers”.
At one stage, the unwitting OAP even thanked Reid “for all you have done for me”.
But, instead, the bullion was initially ferried to London before being shifted elsewhere. It has never been traced by the authorities.
Arrests were later made during the large scale Operation Tailpiece police probe into the fraud.
Sunil Theyath – one of the leading figures of the gang – along with associates Umar Mohammed and Hafeeza Samreen admitted being involved in the scam.
They will be sentenced next month.
The High Court in Glasgow heard how the widow had received phone calls and WhatsApp messages from Garry Reid, who claimed to be carrying out urgent investigations in his role with the FCA.
Prosecutor John Keenan KC: “He told her that her money was not safe.
“He persuaded her to cash in her investment portfolio and move the funds to her other bank accounts.
“He then instructed her to purchase bars of gold bullion, which she did to the value of £1,918,411. These were delivered to her home.”
This occurred on five separate occasions in July 2023.
Garry Reid was said to have “manipulated” the OAP and was in regular contact with her throughout the fraud.
Theyath, 40, held a “senior position” in the gang. He ordered others – including married couple Mohammed, 40, and 35-year-old Samreen – to collect the gold bars on the pretence they were being picked up by couriers.
Theyath, by this time, was back in India having gone there via Dubai from the UK.
Mr Keenan said: “The woman was told that the couriers were not supposed to know what was in the packages.”
It was only Samreen – wearing a black face mask each time – who would actually meet and speak with the pensioner.
The prosecutor: “She would give a password that was given to the woman and the accused by Garry Reid.
“Once the gold was taken to London, its final destination was unknown and it was never recovered.
“The person pretending to be Garry Reid has not been traced to date.”
The court heard Theyath was “closely associated” with this individual.
This included him sending the same mis-spelt directions to Mohammed for the woman’s address that he had originally been given by Garry Reid.
On the day of the first pick-up, Mohammed, Samreen and an associate got lost in Lanarkshire.
Mr Keenan: “Mohammed took a picture of a building which showed their location.
“This was saved on his mobile phone. The same image was received by the woman from Garry Reid just over a minute later.”
It eventually led to the duped woman driving instead to meet them.
Mohammed and Samreen feared they could have been rumbled as the victim may have spotted the registration of the car they arrived in.
Days later, the victim messaged Garry Reid hoping she had not “offended” him for “saying the couriers seemed unprofessional”.
The text went on: “They just seemed so out of place in the middle of the country.
“Many apologies and the last thing I want to do if offend you after all you are doing for me.”
Reid replied she had no need to say sorry adding “we take pride in our job” and that they are “leading the financial sector in the United Kingdom”.
The court heard how Mohammed complained during another collection that the gold was “very heavy” and “difficult to walk with”.
Samreen was also captured on CCTV at a service station close to the woman’s home buying a drink.
Mr Keenan said it was difficult to establish how much Theyath earned from his role.
But, he said it was “reasonable to assess” that his financial gain was “significant”.
The advocate depute stated they were “questionable transactions” in Theyath’s UK bank accounts.
This included a total of £37, 590 being received from “various IT companies”.
Another showed he was seemingly employed by a similar firm the day after his first contact with Garry Reid and the duped pensioner.
A total of £32,751 was paid in as well as a further £18,348 into an online account.
After being arrested, Samreen told police that her and Mohammed got £1,000 for each gold collection.
Theyath pleaded guilty to a charge of directing others to commit an offence connected with serious organised crime.
Mohammed and Samreen each admitted to being involved in serious organised crime.
The trio were last known to have stayed in Romford, East London and Eastbourne, East Sussex.
Lord Harrower adjourned sentencing for reports.
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