NYC man pleads guilty in Maryland to multiple charges in elaborate gold bar fraud scheme

BETHESDA, Md. (7News) — A New York man was sentenced to a maximum of 10 years and six months in prison after targeting an elderly couple with a gold bar scam, according to Montgomery County Police.

Yongxian Huang, a 23-year-old man from Brooklyn, was arrested on Nov. 22, 2024, for allegedly scamming a Bethesda couple. Huang pretended to be an employee of the Federal Trade Commission and convinced the 75-year-old husband and wife to move their assets into gold bars.

After they bought two gold bars for $367,000 and wire transferred $41,000, the couple realized they had been scammed and called the Montgomery County Police Department (MCPD)…

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