Brooklyn man arrested in $400,000 gold bar scam targeting maryland couple

Brooklyn man arrested in $400,000 gold bar scam targeting Maryland couple

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1 min read
November 23, 2024

GAITHERSBURG, Md. — A 23-year-old Brooklyn man has been charged with orchestrating a scam that defrauded a Montgomery County couple of more than $400,000 through a scheme involving gold bars and false claims of federal investigations.

Yongxian Huang was arrested after allegedly posing as a Federal Trade Commission agent and convincing a 75-year-old Bethesda couple to transfer their assets into gold bars under the guise of safeguarding them from criminal misuse. The elaborate scam began in September when the victims received a text message claiming to be from Apple, warning of an unauthorized charge on their account and instructing them to contact Apple support.

Police said the couple called the provided number and spoke with individuals posing as Apple employees before being connected to Huang, who falsely claimed to represent the Federal Trade Commission. Huang reportedly instructed the victims to convert their assets into gold bars and wire transfer additional funds, warning that their money could otherwise be used for activities such as child pornography or missile purchases for Russia.

The couple purchased over $367,000 in gold bars and wired $41,000 in cash before realizing they had been scammed. They reported the crime to the Montgomery County Police Department (MCPD), which collaborated with the FBI’s Baltimore Field Office to continue communications with the scammers and arrange a sting operation.

On November 14, a Montgomery County detective posed as one of the victims and handed a package containing over $84,000 in gold bars to Huang, who was subsequently surveilled as he drove back to New York. Authorities arrested him in Brooklyn with the assistance of the New York Police Department.

The case is under investigation by the MCPD-Financial Crimes Section and the FBI, who warn residents to be vigilant against scams involving government impersonators.

Phil Stilton is the Editor and Publisher of Shore News Network, an independent digital newsroom providing original reporting on New Jersey, national news, government, public policy, public safety, courts, and community affairs.

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