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Yongxian Huang, 23, was arrested after posing as a federal agent and convincing the couple to convert their assets into gold bars for "safekeeping" with the Federal Deposit Insurance Corporation, authorities said Friday, Nov. 22.
The elaborate scam began in September 2024 when the victims received a fake text message claiming to be from Apple about unauthorized charges.
After contacting the number provided, the couple spoke with scammers impersonating Apple employees before being transferred to Huang, who claimed to work for the Federal Trade Commission.
Huang allegedly convinced the victims to convert their assets into gold bars to prevent their money from being used for "child pornography" and "missiles for Russia."
The couple purchased gold bars worth over $367,000 and wired $41,000 to the scammers before realizing they had been duped.
Police and FBI agents set up a sting operation after the victims reported the crime. On Thursday, Nov. 14, a Montgomery County detective posing as the female victim handed Huang a package containing $84,000 in fake gold bars.
Huang was surveilled as he drove to New York, where he was arrested by the NYPD. He is currently being held in a New York detention center awaiting extradition to Montgomery County.
This arrest marks the second suspect detained in two days in connection with similar scams targeting the elderly, police said.
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