ST. JOHNS COUNTY, Florida – A Taiwanese national has been arrested in connection with an alleged investment scam that cost an elderly St. Johns County resident more than $300,000 in cash and gold.
According to the St. Johns County Sheriff’s Office, Property Crimes Unit detectives began investigating the fraud case on May 20, 2026.
Investigators learned the victim had been communicating with individuals through a messaging application and was persuaded to participate in what was presented as an investment opportunity.
Authorities said the victim initially invested $20,000 and later provided more than $75,000 in additional cash between February and May 2026 while believing the investment was growing.
Detectives determined the victim was actually being defrauded.
In May, an individual later identified as 24-year-old Youwei Hsu, a Taiwanese national, allegedly traveled to the victim’s residence and collected approximately $226,000 worth of gold bars and coins that the victim believed were required as part of the investment scheme.
Through investigative efforts, detectives tracked Hsu to Miami-Dade County, where he was located and taken into custody.
Hsu has been charged with:
- Organized Scheme to Defraud
- Grand Theft
- Exploitation of an Elderly Person
He is being held in the St. Johns County Jail on a $750,000 bond.
The investigation remains ongoing.
Anyone with information related to the case is encouraged to contact the St. Johns County Sheriff’s Office Property Crimes Unit at 904-824-8304 or by email at crimetips@sjso.org.