Lear Capital Fraud Alert Leads to Arrest in Multi-State Identity Theft Case

A Lear Capital employee's report of suspicious transactions helped Antioch, California police uncover a scheme with victims in several states.

LOS ANGELES, Sept. 24, 2026 /PRNewswire/ -- A suspicious-transaction alert raised by an employee at Lear Capital, a Los Angeles-based precious metals company, led to the arrest of an Antioch, CA.man and the disruption of a multi-state identity theft operation, according to the Antioch Police Department.

On July 21, 2026, a Lear Capital employee flagged account activity they believed was fraudulent and contacted the Antioch Police Department. Detective Ryan Duff connected the transactions to victims across multiple states, with combined losses of nearly $30,000, police said.

Within days, detectives served a search warrant at an Antioch residence and recovered stolen property, including $9,000 in gold, along with check-printing equipment, card readers, personal identifying information belonging to numerous people, and two firearms. An Antioch man was arrested, and the Contra Costa County District Attorney's Office filed felony identity theft and grand theft charges. The charges are allegations, and the man is presumed innocent unless and until proven guilty.

In a public statement, the Antioch Police Department credited the company's employees for acting on what they noticed instead of ignoring it, noting that "alert businesses are often the first to spot" identity theft before victims realize they have been targeted.

"Our people handle transactions for customers across the country every day, and part of that responsibility is noticing when something doesn't add up," said John Ohanesian, Chief Executive Officer, Lear Capital. "In this case, one employee's decision to pick up the phone helped protect people in several states who had no idea they were being victimized. That's the standard we want every member of our team to hold."

Katya Askar, Senior Director of Sales at Lear Capital, said the outcome reflects habits the company tries to build into everyday account handling. "You develop an instinct for when a transaction doesn't fit the pattern, and the right response is always to slow down and ask questions," Askar said. "I'd rather our team pause a hundred routine orders than let one person lose their savings because nobody stopped to look."

The case reflects a broader rise in identity theft schemes that rely on stolen personal data, forged financial instruments, and fraudulent transactions. To reduce their exposure, the Antioch Police Department encouraged consumers to freeze their credit with the major credit bureaus, enroll in the U.S. Postal Service's Informed Delivery service, and review their credit reports regularly.

Lear Capital said it trains its representatives to watch for irregular activity as part of routine account handling and to escalate concerns to law enforcement when warranted.

This is not the first time the company's employees have helped stop fraud in progress. In July 2024, Lear Capital worked with the FBI and Oregon police to help disrupt a nationwide gold-bar scam aimed at older Americans — an effort the company credited with keeping roughly $8 million away from criminals over a two-month span and helping lead to an arrest.

Consumers can learn more about the company and its approach to precious metals at www.learcapital.com or by calling 800-576-9355.

About Lear Capital
Founded in 1997, Lear Capital is a Los Angeles-based precious metals company that helps investors diversify their portfolios with physical gold and silver, including precious metals individual retirement accounts. The company reports more than $3 billion in precious metals transactions over its history and provides pricing, education, and support to both first-time buyers and experienced investors. More information is available at www.learcapital.com.

Media Contact:

Debora Lima, [email protected]

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SOURCE Lear Capital