Two Men Arrested for Fraud Scheme Involving Gold Bars

Authorities have arrested two men accused of posing as federal agents in a fraud scheme targeting an elderly resident in Washington, D.C. Metropolitan Police reported that Chu Lin, 50, from Fresh Meadows, New York, and Xiean Cheng, 42, from Cornelius, North Carolina, were apprehended after attempting to deceive an 85-year-old man into handing over $200,000 in gold bars. Both men now face charges of second-degree financial fraud.

The scheme reportedly started on July 8, as scammers contacted the victim through email and phone, impersonating federal agents. They convinced the victim that his bank funds were at risk unless he bought gold bars to protect his assets.

Misled by the fraudulent claims, the victim attempted to purchase gold bars worth over $200,000. However, the transaction was flagged by the gold dealer, who notified the victim of the apparent scam and subsequently alerted law enforcement. The gold dealer’s actions prompted an investigation involving the Metropolitan Police’s Financial and Cyber Crimes Unit and assistance from the Federal Bureau of Investigation.

Investigators successfully coordinated with the FBI following the tip-off from the gold dealer. When the suspected scammers showed up at the victim’s residence to claim the gold bars, they were met by officers from the Metropolitan Police’s Violent Crime Suppression Division, leading to their arrest.