MASON CITY, Iowa – An Illinois man has been arrested for cheating a Cerro Gordo County resident out of over $200,000 worth of gold.

Shoaib Mohammed Ahmed, 26 of Charleston, IL, has been booked into the Cerro Gordo County Jail on one count of first-degree theft against an older individual.

Law enforcement says a 78-year-old resident of Clear Lake was contacted in May by people claiming to be from the federal government. The victim was convinced a federal warrant for their arrest would be issued if the victim did not buy $245,000 worth of gold bars and then transfer ownership of the bars to the criminal fraudsters.

Investigators say Ahmed, as part of the scheme, gave the victim a phony password that supposedly confirmed Ahmed’s identity as a federal agent, then took possession of the gol

See Full Page