Gold thieves target Asian, Indian homes, police warn

Of the 63 bur g laries reported to the police precinct that covers East Cobb so far this year, nearly half have had Asian or Indian victims.

That’s according to Cobb police’s Lt. N.A. McCreary, who is holding a forum today on the recent spike of crimes targeting these communities.

He said the thieves have been eyed by the FBI for d ecades. “Routine burglars will take anything of value. This group takes cash and jewelry exclusively,” McCreary said.

But this certainly isn’t unique to Cobb. Federal pros- ecutors charged six people in April 2015 for alleged burglaries targeting Asian and Indian homes in Texas and Michigan.

The United Kingdom was a hotbed for this type of theft starting in 2011, when gold prices skyrocketed amid a global economic downturn. The Guardian dubbed it “the great Asian gold theft crisis.”

Many in the U.K. were allegedly hit by criminals reportedly from Colombia and Chile.

T he BBC reported in December 2017 that the London metropolitan police esti- mated roughly £50m (or $67 million) worth of jewelry was stolen from homes of South Asian, mostly Indian, resi- dents in London during the prior financial year.

Thieves nabbed tens of thousands of dollars worth of high-quality gold from homes at a time.

Having that amount of gold in your home might sound strange to those not familiar with South Asian and Indian culture.

According to the World Gold Council, many people in that region of the world view gold as a sign of status and a savings investment, one that is passed down through generations, especially to women during weddings.

During the time around the Diwali festival, giving gold is seen as particularly auspicious. Business Insider reports that India has the largest private gold holdings in the world at an estimated 24,000 tons.

The Cobb police forum starts at 7 p.m. today in the East Cobb Senior Center, 3332 Sandy Plains Road in Marietta.

Police will provide statistics and tips to decrease the chance of becoming a victim of these burglaries.