FAIRFIELD – The Fairfield Police Department arrested two New York City men in two separate investigations involving financial scams that cost two elderly residents a combined $457,000 in losses through the purchase of gold.
In the first case, Le Chen, 40, of Flushing, New York, was arrested and charged with conspiracy to commit larceny in the first degree and conspiracy to commit telephone fraud in the first degree. Chen was held on a $175,000 bond and appeared at Bridgeport Superior Court on March 3.
The charges stem from a June 2025 incident in which a Fairfield resident was directed to withdraw funds and purchase gold, which was later collected by a courier. The resident lost about $166,000.
In a second investigation, Fangzeng Huang, 37, of Brooklyn, New York, was arrested and charged with conspiracy to commit larceny in the first degree and conspiracy to commit telephone fraud in the first degree. Huang was held on a $650,000 bond and appeared at Bridgeport Superior Court on March 3.
These charges are related to a September 2025 incident in which another Fairfield resident was persuaded to convert assets into gold and provide it to individuals posing as couriers. The resident in this case lost about $291,070, which included a wire transfer and the purchase of gold. Additional arrests are pending in this investigation.
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. Detectives worked closely with regional and federal partners to identify those responsible and bring charges forward.
Scams involving impersonation of government agencies, financial institutions, or law enforcement are increasingly targeting older adults and often involve instructions to withdraw large sums of money, purchase gold, or provide assets to a courier, police said. 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, they added.
