Police arrested a New York man accused of trying to con a Cumberland resident out of more than $100,000 worth of gold bars over the weekend, officials said.

The Cumberland Police Department was notified last week that the resident had been convinced to convert assets into the gold bars and transfer them to a courier, the department said in a written statement. After determining that the suspect in the alleged online scam was attempting to extract more money from the victim, detectives set up a “targeted sting operation” Monday evening.

Police arrested Zhangqi Xie, 44, who has a residence in Flushing, New York, and charged him with theft by deception, a Class B felony-level crime.

Xie was taken to the Cumberland County Jail, where he is being held on a $500,000 bail. He faces up to 10 years imprisonment and up to $200,000 in fines, the department said.

Local police were assisted by the Federal Bureau of Investigation, Maine Drug Enforcement Agency, and Immigration and Customs Enforcement.

Police are asking anyone who may have details relevant to the investigation to contact Cumberland Detective Joseph Burke at 207-829-6391 or jburke@cumberlandmaine.com.

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