Lancaster County, Pennsylvania – A man from New York has been accused of swindling over $500,000 from residents in Lancaster County through a con that authorities are noticing more frequently across the nation.
The victim, an elderly woman from Ephrata, reported to the police in April that a gold stick valued at $555,892 had been stolen from her.
According to investigators, Zhong Ren, 44, from Brooklyn, initially gained access to her computer in March.
He allegedly convinced her that someone was trying to drain her savings. The only solution, he claimed, was to convert her money into a gold stick and hand it over to federal employees.
These supposed federal workers were said to store the money safely in the Federal Reserve in Philadelphia.
Authorities noted that individuals impersonating government officials visited her home in Ephrata twice in April, ultimately collecting the $555,892 in gold.
The investigation, described as “complex,” has led to charges against Ren for illegal acts including theft by deception, conspiracy to commit theft, and impersonation of a civil servant.
Court documents indicate that Ren was not granted bail and is currently held at the Lancaster County Jail. His preliminary hearing is set for July 18th.
Important Information on Scams
The FBI and local law enforcement agencies nationwide have been alerting citizens, particularly the elderly, about potential fraud threats.
In California, police warned in June about the rising trend of gold scams and shared insights into how these fraudulent tactics work.
Initial Contact: Offenders typically reach victims via phone, email, or text while pretending to be from a trusted source, like governmental or financial institutions.
Inducing Panic: They often create a false sense of urgency, suggesting the victim’s financial accounts are compromised.
Conversion to Gold: Victims are instructed to withdraw funds and convert them into a gold stick.
Courier Collection: A courier is dispatched to collect the gold sticks, assuring victims that it will be kept secure for legitimate purposes.
Outcome: Instead of safeguarding the money, the courier absconds with the gold stick, leaving victims empty-handed.
El Cerrito Police Department
A similar warning was issued by the Washington Department of Financial Institutions earlier this year, reminding the public that “government agencies do not ask individuals to purchase or send money through couriers.”
To protect yourself from such scams, if anyone requests that you convert money or hand over cash, it’s advisable to hang up. Here are some additional tips:
- Don’t click on links in emails or text messages.
- Never share personal information or meet strangers.
- Be skeptical of high-pressure tactics over the phone or in person.
- Contact your bank or government agency directly using verified contact information to confirm any claims.
If you suspect you are being targeted by fraudsters, consider reaching out to the FBI Internet Crime Complaint Center.
