JACKSON COUNTY, Tenn. (WZTV) — Two Brooklyn, New York, residents pleaded guilty Tuesday to stealing $750,000 in gold from a Granville man in a Treasury impersonation scam, receiving 20-year sentences with no possibility of parole until full restitution is paid.
A Granville, Tennessee, resident was targeted in a gold-for-security scam beginning in April 2024.
Scammers posing as U.S. Department of the Treasury officials convinced him his identity and finances were at risk.
They instructed him to liquidate investment CDs, purchase gold and hand it over to couriers who promised to keep it safe.
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The victim complied three times, losing $750,000 total. When a fourth pickup attempt was made, he reported it to the Jackson County Sheriff’s Office.
In partnership with the FBI Nashville Cyber Task Force, officers ran a sting operation, and on Oct. 18, 2024, Fei Wang and Zhi Huang drove to the victim’s Granville residence to collect what they believed was $250,000 in gold.
They were arrested on the spot.
Both Wang and Huang pleaded guilty and each received a 20-year sentence with no parole eligibility until $750,000 in restitution is paid to the victim.