A 25-year-old man from California has been arrested in connection with an attempted cryptocurrency scam targeting an elderly homeowner in New Braunfels, Texas. Chaopeng Huang, of San Lorenzo, California, faces multiple charges following the incident, which is part of an ongoing investigation into an email fraud scheme aimed at seniors.
The New Braunfels Police Department reported that on March 6, officers responded to a call from a resident on Lime Gruene Road, who reported that he had received an email claiming fraudulent activity on his cryptocurrency account. The email provided instructions to reverse the fraud, which included granting remote access to his computer.
Additionally, the scam instructed the homeowner to withdraw a large sum of cash and hand it over to a courier. The homeowner recognized the situation as a scam before transferring any money and immediately contacted the authorities.
On March 7, officers surveilled the area and apprehended the suspect, Huang, when he arrived to collect the cash. He was charged with exploitation of the elderly, financial abuse of the elderly, and possession of a controlled substance. Huang was held in the Comal County Jail with a bond set at $25,000. He was released on March 9 after posting bond.
The investigation, led by the New Braunfels Criminal Investigation Division, continues with support from the U.S. Department of Homeland Security. Authorities suggest additional arrests may follow as they continue to explore the scam and its wider network.
