American Fork police arrested a 47-year-old Midvale man on Wednesday after he reportedly sold fraudulent gold bars online.
Shaun Goulding was arrested and booked into the Utah County Jail on suspicion of the second-degree felony of communications fraud and on a warrant for speeding.
Goulding was one of two individuals who were selling fraudulent gold-plated bars through online ads, according to a police report. The 1-ounce gold bars were being sold for $1,000, which is $500 below gold’s current market value, according to the report.
A man bought 10 to 15 bars and attempted to sell them when he found out they were fraudulent, according to the report. The bars had reportedly been wrapped in reputable packaging.
The man went to police, who set up a meeting with Goulding to buy more gold bars. Goulding was reportedly detained. A search of his vehicle found more gold bars, loose diamonds, gold rings and other items.
Goulding reportedly told police the bars were fake, according to the report, but said he didn’t know that the bars he sold in the past were fraudulent. Goulding said he received the bars in the mail from another man and was receiving money for delivering them.
The other man had not been arrested as of Thursday.