Scammed N.J. resident traded $289K in Bitcoin for counterfeit gold, cops say

A New Jersey resident became the victim of a scam by paying nearly $300,000 worth of Bitcoin to two men from Europe in exchange for counterfeit gold.

The alleged fraudsters, Ciprian A. Tiber, 33, and Ahmed Zarei, 43, both residents of Romania, have been charged with two counts of money laundering and one count of theft by deception, the Bergen County Prosecutor’s Office said on Friday.

Arrest warrants for the two men were issued on Oct. 25. They are both still at large.

The pair came to New Jersey in September 2023 and met with a Bergen County resident to discuss the sale of gold coils. The victim ultimately sent them about 11 Bitcoins, which at the time, when Bitcoin’s price was around $26,000, was equivalent to $289,000, authorities said.

The gold coils that the victim received were later determined to be fake, officials said.

Investigators later worked to trace the transaction and found that the digital currency was sent to a crypto wallet owned by both Tiber and Zarei, prosecutors said. The duo also transferred the funds to several cryptocurrency exchanges, where they owned accounts that were registered under fake names, authorities alleged.

“Cryptocurrency scams are sophisticated and can be difficult to detect, but investigators in Bergen County will make every effort to shine a light on schemes that look to take advantage of the popularity surrounding cryptocurrency,” Bergen County Prosecutor Mark Musella said.

The Bergen County Prosecutor’s Office is asking anyone with information about Tiber and Zarei‘s whereabouts to call its tip line at 201-226-5532.