Gold dealer’s call to authorities leads to suspects’ arrests
WASHINGTON, D.C. — An attempt to trick an 85-year-old man into handing over more than $200,000 in gold bars unraveled after a gold dealer recognized the scam and alerted authorities, leading to the arrests of two men posing as federal agents, police said.
According to the Metropolitan Police Department, the scheme began on July 8 when the victim received emails and phone calls from individuals claiming to be federal agents.
Investigators said the scammers falsely told the man that money in his bank account was at risk and instructed him to protect his savings by purchasing gold bars and turning them over to them.
Believing the claims were legitimate, the victim attempted to buy more than $200,000 worth of gold bars.
Police said the gold dealer recognized the warning signs of a fraud scheme and contacted the Metropolitan Police Department’s Financial and Cyber Crimes Unit and the Federal Bureau of Investigation.
When the suspects arrived at the victim’s home to collect the gold bars, members of MPD’s Violent Crime Suppression Division took them into custody.
Police identified the suspects as 50-year-old Chu Lin of Fresh Meadows, New York, and 42-year-old Xiean Cheng of Cornelius, North Carolina.
Both men have been charged with second-degree financial fraud.
The investigation remains ongoing.
Anyone with information is asked to call MPD at (202) 727-9099 or text tips to 50411. The Metropolitan Police Department is offering a reward of up to $1,000 for information leading to the arrest and indictment of those responsible for crimes committed in the District.
Key Points
- Two men were arrested after police said they targeted an 85-year-old man in a gold bar scam.
- Investigators said the suspects posed as federal agents and tried to obtain more than $200,000 in gold.
- A gold dealer alerted MPD and the FBI, leading to the suspects’ arrests.
