2 Suspects Arrested In $457,000 Gold Bar Scam Cases In Fairfield: Police

FAIRFIELD, CT — Two suspects have been arrested by Fairfield police in connection with two separate gold bar scam cases that combined swindled more than $457,000 from elderly victims, according to authorities.

In the first case, Le Chen, 40, of Flushing, New York, was charged with conspiracy to commit larceny in the first degree and conspiracy to commit telephone fraud in the first degree. Chen is being held in lieu of bail of $250,000, and is scheduled to appear in Bridgeport Superior Court on April 15.

Fairfield police said the charges stem from a June 2025 incident in which a Fairfield resident was instructed to withdraw money and purchase gold, which was later picked up by a courier. Authorities said the resident lost approximately $166,000.

In a second investigation, Fangzeng Huang, 37, of Brooklyn, New York, was charged with conspiracy to commit larceny in the first degree and conspiracy to commit telephone fraud in the first degree. Huang is being held in lieu of bail of $650,000, and is also scheduled to appear in court on April 15.

Police said the charges against Huang are related to a September 2025 incident in which another Fairfield resident was persuaded to convert assets into gold and turn it over to individuals posing as couriers. The victim in that case reported losses totaling about $291,070, including a wire transfer and the purchase of gold.

Authorities said additional arrests are pending.

Although the tactics in the two cases were similar, police said the investigations involved different victims and suspects.

"These cases required extensive investigative work, including detailed surveillance review, financial tracing across multiple banking institutions, and the execution of search warrants for
telecommunications and digital records," wrote Fairfield Police Sgt. Jenna Wellington in a statement. "Detectives worked closely with regional and federal partners to identify those responsible and bring charges forward. The Fairfield Police Department remains committed to thoroughly investigating these crimes, holding offenders accountable, and working collaboratively to disrupt these schemes."

Authorities said scams involving impersonation of government agencies, financial institutions or law enforcement increasingly target older adults and often include instructions to withdraw large sums of money, buy gold or provide assets to a courier.

"These demands are red flags, and no legitimate agency will ever ask someone to move money or buy gold in order to secure their accounts," Wellington said. "We encourage residents to speak with family members about these schemes and to immediately report any suspicious calls or requests."

Anyone who believes they may have been targeted by a similar scam is asked to contact the Fairfield Police Department. Information about similar incidents can be reported to the department’s Detective Bureau at 203-254-4840, and anonymous tips may be submitted by texting FPDCT and a message to 847411 or online at fpdct.com/tips.