2 New York men accused of attempting to scam Lake County woman out of $750k worth of gold bars

LINCOLNSHIRE, Ill. — Two men from New York were taken in custody this week after they allegedly attempted to scam a Lake County woman out of $750,000 worth of gold bars.

According to Lincolnshire police, officers were first notified about the incident after employees at BTRC Coin & Gold alerted them about a potential scam involving an customer who had purchased about $750,000 worth of gold bars from them on Monday, Feb. 24.

A source confirmed to WGN News that the vicitm was a 77-year-old woman.

Authorities caught up with the victim and quickly recognized signs that she was likely being scammed.

The victim informed offices that she had been contacted by someone claiming to be a government employee who was threatening to arrest her family members unless she paid them. She then admitted to officers that she had purchased the gold bars to pay the person claiming to work for the government.

Authorities said one of the suspects had arranged to meet the victim to pick up the gold bars the day after the purchase.

On Tuesday, members of the Lincolnshire Police Department, the North Regional Major Crimes Task Force (NORTAF) and the Federal Bureau of Investigation (FBI) arrested two men, 34-year-old Chen Xinwei and 55-year-old Tangchao Huang, both residents of Brooklyn, New York, in connection with the attempted scam.

“We commend our local business BTRC for their vigilance and quick action in recognizing a potential scam and alerting our department. Their awareness and willingness to get involved helped prevent a predatory crime and serious financial loss to a member of one of our most vulnerable populations,” Lincolnshire Police Chief Joseph Leonas said. “This serves as an important reminder that these types of crimes are happening everywhere, and the bad guys are constantly looking for new ways to take advantage of others. We urge everyone to remind their loved ones and friends about these scams, stay informed, and never hesitate to reach out to law enforcement if something doesn’t seem right.”

Officers said Xinwei and Huang, have each been charged with one felony count of attempted theft over $500,000 but less than $1,000,000 and both men made their first court appearances on Wednesday.