Cross-state -gold bar fraud- case- Fake officials defrauded an elderly woman of NT$3 million. 1 Chinese suspect arrested_1

In a recent case in Portland, Oregon, prosecutors have charged 27-year-old Chinese national Biao Lin with involvement in a troubling cross-state gold bar scam that targeted vulnerable seniors. Lin was apprehended by the FBI on October 4th while he was allegedly attempting to collect over $460,000 worth of gold bars from an elderly couple in their 80s. Following his arrest, he was indicted on federal fraud charges on October 7th, and is currently being held as he awaits further legal proceedings.

Reports indicate that since June, the elderly couple has fallen victim to this scam, which has cost them more than $3 million in gold bars. Assistant U.S. Attorney Scott Kerin explained that these schemes often begin with scammers infiltrating victims’ computers and posing as government officials responsible for protecting their assets. They manipulate victims to swap their cash for gold, claiming it will be secured by the Treasury Department.

Kerin noted that Biao Lin is believed to have illegally entered the U.S. in 2019 and is currently seeking legal status. When questioned by investigators, Lin mentioned that he had been approached a week earlier in a public library in New York City by someone who offered him $200 to “fly somewhere to pick something up,” which he agreed to do.

However, Kerin emphasized that earlier in the year, Lin had already taken gold bars valued at $580,000 from another victim on the East Coast before heading to Portland with the intention of defrauding the elderly couple. The U.S. District Court in Portland has charged him with conspiracy to commit mail and wire fraud.

Kerin likened the operation to “a swarm of predatory locusts” that preys on vulnerable populations across the nation, highlighting the exploitative and destructive characteristics of such scams.

The FBI’s investigation accelerated after the elderly woman bought gold bars exceeding $460,000 on October 1 and subsequently informed her son, leading the family to report the incident to the local FBI office. The couple, aged 86 and 93, revealed they had been following instructions from an individual named Michael Lewis, who allegedly deceived them into purchasing gold bars totaling over $3 million. Reportedly, the woman made numerous purchases of gold bars at Lewis’s suggestion, even taking photos for him, while multiple “couriers” came to collect the gold thereafter. Each time, she received counterfeit Treasury checks reflecting the value of the gold.