Outside Tilak Jewelers in Irving Thursday afternoon was a swarm of local and state investigators. Inside, police were seen combing through display cases, collecting evidence in what the Collin County Sheriff’s Office calls an alleged large-scale fraud and money laundering scheme targeting elder ly victims across Texas. This store and Saima Jewelers in Frisco are where investigators say the suspects converted precious metals they coerced victims into handing over. “It was hours upon hours, upon hours of securing evidence, not just the gold, not just the items that have been converted into something else, but also equipment that’s used to make that,” said Deputy Chief Todd Cleveland with the Allen Police Department. At least seven million dollars was stolen from victims in Collin County, and at least 55 million dollars was stolen from victims across the state, according to Deputy Chief Cleveland. “They could take gold bars, for instance, and go and have them melted down to where it would become jewelry that people would then come in and purchase,” said Cleveland. Investigators say the suspects called victims and impersonated themselves as federal agents and regulatory officials. They threatened victims with prosecution if they didn’t surrender their gold, cash and cryptocurrency. Investigators raided both jewelry stores at the same time in hopes that they wouldn’t communicate with one another. Detectives say the investigation continues and the details of Thursday’s arrests will be released at a later time. While the open sign and lights were on at Tilak Jewelerson Friday, the doors were locked and the business remains at a standstill. ...read more read less