A husband and wife in the Village of Oak Creek in Sedona have reported that a family friend defrauded them of an excess of $1 million.
According to the Yavapai County Sheriff’s Office, the couple, who lives in the Village of Oak Creek in Sedona, said 32-year-old Nicholas Silvestri traded fake gold and silver bars to pay for the bullion investments. The Yavapai County Sheriff’s Office confirmed that Silvestri had been helping them invest in gold and silver bullion over the past few years.
On June 6, 2024 Yavapai County Sheriff’s Office (YCSO) deputies from the Eastern Area Patrol took a report from two victims, a husband and wife, living in the Village of Oak Creek Sedona who claimed they had been defrauded out of over one million dollars.
The victims reported that a family friend, 32-year-old Nicholas Silvestri, had assisted them in investing in gold and silver bullion over the last few years, trading gold and silver coins to pay for the bullion investments. After the trade, the victims had the gold and silver bars checked by a certified precious metals professional who told them the bars were fake. The couple reported they had purchased over a million dollars’ worth of gold and silver from Silvestri.
On July 8th, the YCSO Criminal Investigation Bureau, in a diligent effort, discovered a second victim of Silvestri’s who had purchased approximately $100,000 worth of gold and silver that she too learned to be fake after the fact. The investigation into Silvestri found that the suspect was also selling what appears to be approximately $80,000 of fraudulent IRA’s and Roth investments, as well as approximately $50,000 in Crypto Currency fake investments.
This past Thursday morning, YCSO Criminal Investigations Bureau detectives, in a thorough investigation, executed a search warrant at Nicholas Silvestri’s home in the Village of Oak Creek. While searching the residence detectives located evidence of the fake gold bars, and the real gold coins the first victims had traded to him. Detectives also found documentary evidence related to these transactions.
Nicholas Silvestri was arrested and charged with fraudulent schemes and artifices (2 counts) and Theft (2 counts), demonstrating the YCSO’s unwavering commitment to justice.
Sheriff David Rhodes said, “This suspect defrauded numerous people and may have continued to do so were it not for the diligence of our deputies and detectives. The arrest of this man who preyed on the trust of others is not only a success for those whose property we were able to recover, but for those who may have become victims in the future.”
It is believed that there are numerous customers in the VOC and Sedona area who the suspect assisted with investing in metals, IRA’s and Crypto Currency. It was reported by the husband and wife victims, that Silvestri had befriended a group of older wealthy people in the area. The victims believed others had invested through him.
YCSO asks that anyone with more information on this case to please call 928-771-3260.