Two Brooklyn men, Chen Xinwei, 34, and Tangchao Huang, 55, were arrested after allegedly scamming an elderly woman from the Chicago area into purchasing $750,000 in gold bars. Both men have been charged with attempted theft of more than $500,000 but less than $1 million, a Class 2 felony.
The scam was discovered on February 24 when staff at BTRC Coin and Gold in Lincolnshire, Illinois, reported suspicious activity. An elderly woman had purchased $750,000 worth of gold bars, prompting the staff to alert the police.
Upon questioning the victim, officers noted signs of fraud. The woman explained that she had been convinced by a man claiming to be a government official, who threatened to arrest her unless she made the purchase. The suspect arranged to pick up the gold the following day.
On February 25, Lincolnshire police, along with the North Regional Major Crimes Task Force and the FBI, arrested Xinwei and Huang in connection with the scam.
Charges and Arrests
Xinwei and Huang, both from Brooklyn, New York, are facing serious charges after their alleged scam was thwarted. The charges are related to the attempted theft of a sum between $500,000 and $1 million.
Chief of Police Joseph Leonas praised BTRC Coin and Gold for their quick action in recognizing the potential fraud and notifying law enforcement. “Their vigilance prevented a serious financial loss for a vulnerable member of our community,” Leonas said.
This case serves as a reminder that such scams can happen anywhere, and it is essential to stay alert to protect vulnerable populations. Authorities are urging the public to educate their loved ones about these scams and to reach out to law enforcement if they suspect anything suspicious.
At this time, it remains unclear when Xinwei and Huang will appear in court.
