⏱ 2 min read
A Chinese national, Jiaan Cao, 33, has been sentenced to five years in federal prison for his role in a sophisticated gold scam that targeted victims in Ocala, Florida. The scam, which took place between October 2024 and December 12, 2024, involved Cao and his co-conspirators gaining access to victims’ computers, posing as representatives of their financial institutions, and informing them that their accounts had been compromised. The victims were then directed to withdraw money and purchase gold, which was later collected by Cao or another member of the conspiracy, posing as a federal agent.
The scam was foiled when Cao was arrested at a victim’s residence in Marion County on December 12, 2024, after arriving to collect the gold. Cao pleaded guilty to conspiracy to commit wire fraud on January 27, 2026, and was sentenced by U.S. District Judge Thomas P. Barber.
The investigation was led by Homeland Security Investigations and the Marion County Sheriff’s Office, with prosecution handled by Assistant United States Attorney Sarah Janette Swartzberg. The case highlights the growing threat of wire fraud and the importance of vigilance in protecting against such scams.
Cao’s sentence serves as a warning to those who would engage in similar fraudulent activities, and demonstrates the commitment of law enforcement agencies to bringing such individuals to justice.
📋 Key Facts
- Crime: Fraud & Financial Crimes
- Defendant: Florida
- Location: US
- Source: DOJ Press Release
