Altamonte Springs gold refinery raided in multimillion-dollar senior scam

Federal agents and the Collin County Sheriff’s Office raided Orlando Gold Refinery in Altamonte Springs as part of a multistate investigation into a gold-bar scam that authorities say targeted older adults and moved tens of millions of dollars through Florida, Georgia and Texas.

Investigators said the ring worked by posing as law enforcement officers and telling victims their savings were not safe. Seniors were pressured to convert cash into gold bars for “safekeeping,” then couriers were sent to pick up the metal. In Altamonte Springs, investigators said gold was allegedly melted down to hide where it came from and mixed with legally acquired gold, a step that would make the final jewelry harder to trace.

WFTV reported investigators seized about $30 million in gold and cash from the Seminole County refinery, while seizing $70 million from a store in Atlanta and $50 million from a location in Texas. Another WFTV report said the total seizure across the three stores reached about $150 million, with roughly $100 million tied to the Altamonte Springs and Atlanta locations. At least 19 people were under arrest in the broader probe, according to WFTV.

Authorities identified the two men in charge of Orlando Gold Refinery as Timothy O’Dell of Longwood and John Timmerman of Ocoee. They were arrested on Texas charges including engaging in organized criminal activity and financial abuse of the elderly, charges that could bring significant prison time if they are convicted. Their attorneys denied the allegations, saying the business operated legitimately, had no knowledge of criminal activity elsewhere and that the seized gold and cash belonged to clients who now cannot access their property. The defense also asked a court to provide an itemized list of what investigators took.

Collin County Sheriff Jim Skinner said the case began with a tip in early 2025 and expanded over about a year. He said Texas alone had lost $74.5 million in the scam, and investigators said some victims in other states lost more than $1 million each. The Altamonte Springs store closed after the raid, and customers and employees said they were shocked.

The case matches a broader pattern federal investigators have been warning about. FBI Boston said that from 2023 through May 2025 it documented 103 courier-pickup cases involving illicit cash or gold bars, with losses totaling $26,024,691. Roughly 98% of those losses were reported by people over age 60, a stark reminder of how quickly a convincing phone call and a courier pickup can drain a lifetime of savings.