Two Brooklyn men are going to spend decades behind bars after a Tennessee gold scam persuaded a Granville resident to hand over $750,000—and sent couriers to his home for even more.
Fei Wang and Zhi Huang pleaded guilty Tuesday in the case. According to FOX 17, each received a 20-year sentence, with parole eligibility tied to repayment of the full $750,000 restitution amount.
The scam’s most dangerous feature was its official-sounding urgency. The Treasury Inspector General warns about callers and emails impersonating Treasury officials, a tactic designed to make victims feel that moving money immediately is the only safe option.
How The Tennessee Gold Scam Unfolded
The scheme began in April 2024, when the scammers allegedly posed as U.S. Department of the Treasury officials and told the Granville man that his identity and finances were at risk. As detailed by FOX 17, he was instructed to liquidate investment CDs, buy gold and hand it to couriers who claimed they would keep it safe.
The victim complied three times and lost $750,000 in total. When a fourth pickup was requested, he contacted the Jackson County Sheriff’s Office instead of handing over another shipment.
The Fourth Pickup Became A Sting Operation
Investigators set up a sting with the FBI Nashville Cyber Task Force, using a fake $250,000 gold delivery as bait. On October 18, 2024, Wang and Huang drove to the victim’s Granville residence to collect what they believed was the gold and were arrested there.
The arrests turned a long-distance impersonation scheme into an in-person case with a clear trail: repeated demands, local handoffs and couriers willing to show up at a victim’s home. The sentence now leaves the stolen gold’s value at the center of the case, with restitution still required before parole eligibility.
What Residents Should Know About Gold Scams
The Federal Trade Commission says legitimate government agents will not tell people to buy gold bars, move money to a “safe” account or give valuables to a courier. Anyone receiving that kind of demand should stop communicating, verify the agency through an official phone number and report the attempted fraud to the FTC.
