A New York man has pleaded guilty to federal charges in connection with a nationwide elder fraud conspiracy that defrauded victims of more than $2.1 million, including residents of Delaware. Acting U.S. Attorney Shannon T. Hanson announced that 36-year-old Rakeshkumar Patel of Flushing, New York, entered the plea before U.S. District Judge Richard G. Andrews.
Court records show that between May 2023 and May 2024, Patel conspired with others to carry out a scheme in which elderly victims were contacted by individuals posing as federal agents. Victims were falsely told that their identities had been compromised and that they were under federal investigation. To purportedly resolve the situation, victims were instructed to liquidate their savings, converting the funds into cash or gold bars. Patel and other co-conspirators then posed as federal agents to collect the money or gold directly from the victims’ homes or from public locations.
The scheme was first brought to light in Delaware in February 2024, when a woman from Millsboro reported to Delaware State Police that she had been targeted in a similar scam. Investigators later learned that a suspect had convinced the woman to convert her funds into gold and hand them over under the guise that the assets would be safely held by the U.S. Treasury. Through investigative efforts in coordination with the FBI, authorities identified Patel as one of the couriers involved in the operation.
On May 20, 2024, Patel was arrested near Millsboro and taken into custody by Delaware State Police. He was charged with felony theft over $100,000 and wearing a disguise during the commission of a felony. He was arraigned in Justice of the Peace Court 2 and held at Sussex Correctional Institution on $103,000 cash bond.
“The Department’s Elder Justice Initiative is committed to protecting elderly victims from being swindled out of their hard-earned life savings by bad actors like Patel,” said Acting U.S. Attorney Shannon T. Hanson. “Together, with our law enforcement partners, my office will continue to identify, investigate, and prosecute those who scam the elderly for financial gain. We encourage all members of the public to remain vigilant against these scams. If you think you or a loved one may have been defrauded, make a report to law enforcement immediately.”
“When you talk to victims, you see and hear how gut wrenching and devastating these scams are. They’re often facing deep financial anxiety and are emotionally distressed, with the aftereffects weighing heavy on all aspects of their lives,” says FBI Baltimore Special Agent in Charge Bill DelBagno. “The FBI and our partners are working steadfastly every day to educate the public to avoid these scams and to identify, disrupt, and bring to justice those committing these appalling crimes.”
As a result of Patel’s guilty plea to the wire fraud conspiracy, he faces more than five years in federal prison when sentenced. Judge Andrews will determine the defendant’s sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
The investigation remains ongoing as law enforcement agencies continue efforts to identify additional suspects involved in the conspiracy. Authorities encourage anyone with information related to this case to contact the Delaware State Police or the FBI.
