Swindlers Are Targeting Elderly Populations in Maryland With Gold Bar Scams: Report

Concern continues to rise as senior citizens are being targeted by scammers. Most recently, a 19-year-old man from Brooklyn is facing theft charges in connection with a “ government-imposter related gold bar scam.” He allegedly conned an 82-year-old woman in Silver Spring, Maryland, out of more than $900,000. Officials are urging elderly people to practice extreme caution to protect themselves.

A recent scam took place in at the expense of an 82-year-old Maryland resident

In early May of 2024, the victim was contacted by an unknown individual who directed her to transfer her assets into gold bars to prevent Russia from taking her money, according to a Montgomery County police press release . Zhenyong Weng was arrested July 15 in Silver Spring, according to a Montgomery County police press release, while he attempted to collect a package from the victim valued at over $70,000. He is being held without bond at the Montgomery County Central Processing Unit.

He later admitted that he was to be paid $500 to $1,000 to pick up the package, according to local news site MoCo360 . The site reported that the scam allegedly began when the woman received an alert on her computer that criminals had flagged her device, bank account and Social Security number. The alert directed her to call a phone number on the screen, according to charging documents.

When the woman called the number, an unknown suspect told her that she needed to “secure her money” and that many people had been affected by the problem, MoCo360 writes of the information in court documents. The scammers then delivered instructions, and the victim complied.

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Later, another suspect who went by the name “Jeff” contacted the woman and persuaded her to remove more money from her bank account “to prevent the government from taking her savings while she was waiting to be issued a new Social Security number,” the filings state. It is also said that the alleged criminals convinced the woman to purchase gold bars from multiple precious metals dealers. On April 26, she purchased more than $266,940 in gold from a dealer who delivered the bars to her residence in early May.

The women met with an unidentified courier who was portraying himself as an “undercover agent” at a Wendy’s restaurant, where he took possession of the gold bars, charging documents noted. It is not clear whether Weng was the courier. On June 7, the victim bought 34 gold bars worth more than $2.5 million from a precious metals dealer. The company, Massachusetts-based Coins and Things, arranged for the gold bars to be delivered to her over multiple shipments, filings state.

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The woman apparently realized she was the target of a scam before delivering the bars, so she ceased the gold purchases and shipments and contacted authorities to alert them of the situation. She then contacted county police who helped her set up a sting operation, State’s Attorney John McCarthy said at the press conference. Court documents state that the woman continued to communicate with the suspects and led them to believe that the most recent gold shipment had been delayed.

On July 11, Weng allegedly called the woman, who told him that a 1-kilogram gold bar worth ove $75,000 had arrived at her home as a ruse to have him come pick it up. According to the charging documents, county police detective Miranda Adami met with Weng, who had approached the woman’s vehicle, stated the code word “watermelon” and removed a package said to contain the gold bar. Weng was then apprehended by county detectives on site.

District Court Judge Aileen Oliver ordered Weng to be held without bond. According to McCarthy, Weng was free on bond in a New York case involving a handgun and had driven from Brooklyn to pick up the gold bars. Weng’s hearing will be held August 30 at Montgomery County District Court in Silver Spring, court records state.

Officials issue a warning about scams

McCarthy is warning county residents, especially seniors, not to open pop-up ads on their computers and to hang up on callers who try to convince them to transfer their money or that their finances are in danger, MoCo360 states.

McCarthy also said the state’s attorney’s office has now identified 19 people across the county who have fallen victim to the scam, the outlet reports. He also noted that seniors in the community are disproportionately being targeted and Weng’s arrest marks the third this year by county police of people allegedly involved in these scams.

In one example in February, a resident of senior living facility Leisure World was robbed of more than $700,000 in gold bars through a similar series of events. County authorities reportedly arrested Wenhui Sun of California in connection to the scheme, but there is no knowledge of whether the two incidents are related.

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“The amount of money in these cases is astronomical,” said McCarthy, who noted that he’s talked to residents at senior living facilities in the county including Leisure World of Maryland in Silver Spring about the scam. Money lost to these schemes is unfortunately usually untraceable after the scam has been completed, McCarthy explained, adding that none of the money lost in the local scams has been recovered.

“I know for a fact that senior members of the community are unfortunately targeted. The No. 1 thing we can do is warn the public,” McCarthy said. “This is a nationwide thing.”

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