Authorities say Muzamil Ahmed was detained at New York’s JFK airport as investigators pursue a sprawling international fraud and money-laundering case.
FORT WORTH, TX — A 35-year-old man accused of playing a central role in an international fraud operation that targeted older adults and allegedly stole more than $250 million has been arrested while attempting to leave the United States, according to Tarrant County authorities.
Muzamil Ahmed was detained at John F. Kennedy International Airport in New York on Tarrant County warrants alleging engaging in organized crime for theft, financial abuse of the elderly and money laundering. Tarrant County District Attorney Phil Sorrells said Ahmed was waiting to board a flight to Jeddah, Saudi Arabia, when he was taken into custody. Ahmed has since been brought to Texas and booked into the Tarrant County Jail.
Investigators describe Ahmed as a central figure in a wider operation accused of taking cash, gold and other assets from older victims in Tarrant County and elsewhere. Authorities say the investigation has grown to include more than 200 victims and more than 40 indictments. Law enforcement officials have connected more than $250 million in alleged losses to the operation and say more than $130 million in gold linked to the investigation has been seized.
Authorities allege the scheme often began with calls designed to frighten victims into believing their bank accounts, identities or savings were in danger. Investigators said callers sometimes posed as federal agents or other trusted officials and urged victims to act quickly. Victims were allegedly told to withdraw savings, purchase gold bars or Bitcoin, or prepare cash for couriers who would arrive to collect the assets.
Investigators allege Ahmed operated from New Jersey and used shell corporations to help launder stolen money. Sorrells said investigators believe proceeds were routed to a gold refinery, while gold and cash were also converted into cryptocurrency and moved outside the United States. Authorities have not said that Ahmed has been convicted of any of the allegations against him.
The investigation has also focused on businesses that authorities believe helped move or process assets obtained from victims. Sorrells said raids were conducted earlier this year at jewelry businesses in Richardson, Irving and Frisco. Investigators allege some participants served as couriers, others worked at call centers and some businesses helped process gold before proceeds were moved overseas. The precise role of each defendant will be determined through the court process.
FOX 4 reported that 18 indictments connected to the investigation were returned in April and that 12 of those defendants remained in the Tarrant County Jail as of the latest update. Authorities said two additional suspects were arrested Thursday at airports in Chicago and Newark while allegedly attempting to leave the country. Officials said those defendants were expected to be extradited to Tarrant County, although their alleged roles were not immediately detailed.
The financial losses have been severe in several cases. CBS News Texas reported that one victim, Robert Brown, lost about $2 million after being drawn into the alleged scheme through an email. Authorities say the broader investigation has revealed the emotional as well as financial toll on victims, many of whom were persuaded to turn over savings accumulated over decades.
Sorrells said investigators believe Ahmed was responsible for laundering stolen proceeds and helping move money outside the country. “Investigators believe Muzamil Ahmed is a central figure in this operation,” Sorrells said. He said investigators allege Ahmed used shell companies, gold transactions and cryptocurrency as part of the movement of stolen funds.
Authorities have not announced that the investigation is complete. Investigators say additional people may have been involved and more arrests are possible as prosecutors and law enforcement agencies continue tracing money, gold and cryptocurrency connected to the alleged operation. The cases against Ahmed and other defendants remain pending, and the charges are allegations unless proven in court.
Author note: Last updated September 5, 2026.