Kenosha Man Accused of Gold Bar Scam Arrested in Court After Judge Denies Motion to Dismiss, Authorities Say
KENOSHA, WISCONSIN — A 44-year-old man accused of helping orchestrate a gold bar scam that cost a local woman more than $650,000 was taken into custody Wednesday after walking voluntarily into Kenosha County intake court. The suspect, Chintan Thakkar, faces felony charges including theft and money laundering in what prosecutors describe as a “senior exploitation scheme.”
Authorities Say Victim Lost Her Life Savings After Being Convinced Her Bank Accounts Were Compromised
According to prosecutors, Thakkar and an associate, Jagdishkumar Nandani, are accused of participating in a highly coordinated scam that targeted an elderly woman on Kenosha’s north side. Authorities say scammers contacted her by phone, falsely claiming her bank accounts had been compromised and used for criminal activity.
Investigators say the caller impersonated a federal agent and told the victim it would be “safer” to convert her accounts into gold. Fearing her finances were at risk, the woman purchased and handed over $332,750 in gold bars on March 1 and an additional $139,500 on March 15.
In total, she lost more than $653,000 — and later told investigators she even sold her home because she believed the scammers convinced her it was part of the scheme.
The victim, who asked that her name not be released, said:
“They’re ruining the lives of seniors. It’s exploitation, it’s abuse.”
Prosecutors: Orders Came Through Overseas WhatsApp Group Providing Pickup Instructions
Authorities allege that Thakkar and Nandani were following instructions sent through an overseas WhatsApp messaging group, which prosecutors say distributed photos, pickup directions, and victim details to participants involved in the scam.
The courier role, according to investigators, was carried out by Nandani, who allegedly made multiple trips to the victim’s home to collect the gold. A warrant remains active for his arrest.
Kenosha County District Attorney Xavier Solis said the messaging group was essential to coordinating the pickups and transferring information between scam participants.
Defense Sought Dismissal, but Judge Ordered Thakkar Into Custody
During Wednesday’s hearing, Thakkar’s attorney argued that the case should be dismissed, claiming there was not enough evidence connecting him directly to the Kenosha thefts.
The judge disagreed.
Court Commissioner William Michel denied the motion, ruling that prosecutors had presented sufficient probable cause for the case to continue. Michel then ordered Thakkar to be taken into custody immediately and set his bond at $25,000.
Thakkar was arrested inside the courtroom following the ruling. His attorney told the court that Thakkar had the funds to post bail but offered no further comment.
Officials Warn of Increasing Gold Bar Scams Targeting Seniors
Local and federal authorities continue to warn residents about a growing trend involving scammers instructing victims to buy gold, cryptocurrency, or other valuables as a way to “protect” their money.
Officials emphasize that government agencies will never request gold, cash, or precious metals as part of any investigation and urge victims to report scams immediately.
The investigation remains ongoing, and additional charges may be filed as law enforcement works to identify all individuals involved in the international communication network.
As Kenosha County prosecutors continue building their case, authorities urge community members — especially seniors — to remain cautious about unsolicited calls claiming financial or legal threats. For continuing updates on major criminal cases and public safety news across Wisconsin, visit ChicagoMusicGuide.com.