Taiwanese national jailed in $226K gold, cash investment scam targeting elderly woman

ST. JOHNS COUNTY, Fla. (CBS12) — A Taiwanese national is in jail after allegedly defrauding an elderly woman out of hundreds of thousands of dollars in an investment scam.

According to the St. Johns County Sheriff’s Office, on May 20, detectives began investigating a fraud tied to an elderly St. Johns County resident who was interacting with individuals on a communications app.

See also: South Florida teacher accused of inappropriate relationship with minor student

Deputies said the victim initially invested $20,000 in the scheme and later provided an additional $75,000 in cash between February and May 2026 toward a larger alleged payment, which was collected in person by an individual who traveled to meet the victim.

The sheriff’s office said the victim believed the investment was growing, but instead was falling deeper into the scam. Further investigation in May revealed that a Taiwanese national, identified as suspect Youwei Hsu, traveled to the victim’s home and accepted $226,000 worth of gold bars and coins that the victim believed she owned.

Deputies determined Hsu later traveled to Miami-Dade County, where he was located by law enforcement.

Comment with Bubbles

BE THE FIRST TO COMMENT

Hsu is being held at the St. Lucie County Jail on a $750,000 bond. The investigation is ongoing.