Authorities in Washington, D.C., apprehended two men accused of posing as federal agents in a scheme aimed at defrauding an 85-year-old man of over $200,000 in gold bars. The Metropolitan Police Department reported Friday that Chu Lin, 50, from Fresh Meadows, New York, and Xiean Cheng, 42, from Cornelius, North Carolina, were arrested after they visited the victim’s home to collect the gold.
Both individuals face charges of second-degree financial fraud. According to police, the incident began on July 8 when the fraudsters contacted the elderly man through email and phone, pretending to be federal agents.
The scammers allegedly convinced the victim that his bank account funds were at risk and required safeguarding by purchasing gold bars. The scammers instructed him to buy the gold and hand it over to them for protection.
Initially believing the scam, the victim attempted to buy over $200,000 worth of gold bars. However, a vigilant gold dealer recognized the potential fraud and notified the man, thereby preventing the transaction from proceeding.
The Metropolitan Police Department’s Financial and Cyber Crimes Unit, along with the FBI, was alerted about the scam. The gold dealer’s quick response played a crucial role in prompting the investigation.
Upon visiting the victim’s home to collect the gold bars, Lin and Cheng were arrested by officers from MPD’s Violent Crime Suppression Division. This collaboration involved both local law enforcement and federal agents, highlighting the joint efforts to thwart financial crimes against vulnerable populations.