Two Arrested for Alleged Gold Bar Scam in Washington, D.C.

The Metropolitan Police Department (MPD) arrested two men accused of impersonating federal agents to scam an 85-year-old man in Washington, D.C., out of more than $200,000 in gold bars. The suspects, Chu Lin, 50, from Fresh Meadows, New York, and Xiean Cheng, 42, from Cornelius, North Carolina, faced second-degree financial fraud charges.

According to police, the scam started on July 8 when the victim received emails and phone calls from individuals pretending to be federal agents. They falsely claimed his bank account funds were at risk and advised him to secure money by purchasing gold bars and handing them over.

The victim, convinced by the scammers, tried to buy over $200,000 in gold bars. Fortunately, a gold dealer recognized the suspicious activity and notified the victim about the scam.

The victim attempted to purchase the gold but was alerted by the dealer, who suspected fraudulent activity. This led to the dealer contacting the MPD’s Financial and Cyber Crimes Unit and the FBI for further investigation.

Both agencies collaborated once informed about the attempted scam. The fraudulent act reached a critical point when Lin and Cheng appeared at the victim’s residence to collect the gold. At that moment, officers from MPD’s Violent Crime Suppression Division intervened and arrested the suspects.