The Metropolitan Police Department in Washington D.C. has announced the arrest of two men accused of posing as federal agents and attempting to scam an 85-year-old man out of over $200,000 worth of gold bars.
According to police, Chu Lin, 50, of Fresh Meadows, New York, and Xiean Cheng, 42, of Cornelius, North Carolina, allegedly contacted the victim by email and later by phone while posing as federal agents. They told the victim that funds in his bank account were at risk of being lost unless he secured the money by purchasing gold bars and turning them over.
The victim, believing the scheme was legitimate, attempted to purchase more than $200,000 worth of gold bars before a gold dealer recognized the apparent scam and alerted him. The gold dealer then contacted authorities, who worked with the FBI to investigate the alleged scam.
When Lin and Cheng later arrived at the victim's home to retrieve the gold bars, officers from MPD's Violent Crime Suppression Division arrested them. Both men have been charged with second-degree financial fraud.
The Metropolitan Police Department has credited a gold dealer for alerting authorities to the alleged scam, which is believed to have begun on July 8 when the scammers contacted the victim by email and phone.
NTC Report coverage is based on reporting from the original publisher.
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