Elder Fraud in Idaho

Nigerian national Olamide Shanu pleaded guilty in federal court in Idaho to operating an international money laundering scheme involving sextortion and romance scams that targeted approximately 150 Americans and generated over $2.5 million in fraud proceeds. The scheme used fake social media identities to build relationships with victims and extort intimate images, with stolen funds laundered through peer-to-peer payment apps and cryptocurrency before being transferred to Nigeria. Shanu faces up to 20 years in prison at his December 15 sentencing.

Two men, Daejon Labrayae Love (35) and Taylor Jamie Chan (18), were arrested at Boise Airport in connection with a $1.3 million romance and investment scam that targeted at least 26 women across multiple states starting in February 2022. Love posed as a wealthy investor or NFL player on dating apps to build romantic relationships with victims, while Chan posed as his financial adviser; together they convinced women to invest in fake opportunities and manipulated them into sending large sums of money, which they never recovered. The FBI believes there may be additional victims and is seeking information from anyone who encountered the men or has details about the scheme.

Florida-based scammers posing as Wells Fargo financial investigators convinced an Idaho resident to withdraw and mail $14,000 overnight to a Florida address, claiming the victim's bank account had been compromised. Idaho Consumer Protection Division investigators and UPS worked together to intercept the package in transit and return the funds to the victim. The incident was stopped before the money reached its final destination, with authorities from Idaho, Florida, and Wells Fargo continuing the investigation.

The Federal Reserve banned two former bankers for stealing from elderly customers: Simon Alberto Gonzalez stole approximately $203,000 from an elderly Regions Bank customer in Orlando between August 2023 and November 2024, while Ralph Mojica took $33,300 from two elderly customers at First Interstate Bank's Nampa, Idaho branch between July and September 2025, plus an additional $8,000 from the bank itself. Both men were fired and barred from banking industry work without Federal Reserve approval, as regulators intensify efforts to combat elder financial exploitation amid a broader trend of seniors losing billions to fraud annually.

Georgia's new House Bill 945, effective July 1, 2026, allows banks and credit unions to pause suspicious transactions they suspect are fraudulent, protecting adults 65 and older as well as those with physical or mental incapacities, dementia, or Alzheimer's disease. Common bank scams involve callers claiming your account is under attack and pressuring you to transfer money to a "safe account" that actually belongs to scammers, potentially turning years of savings into irreversible losses. The law's effectiveness depends on your state, financial institution, and account type, so consumers should stay alert to scam calls, verify requests directly with their bank using official numbers, and consider registering for fraud prevention resources.

An elderly woman in Madison County nearly lost $25,000 after scammers convinced her to seal cash in magazines and ship it as a "gift," but her son discovered the scheme and recovered the package in time. According to the FBI, seniors over 60 lost over $7.7 billion to scams in 2025, with complaints from this age group jumping 37% year-over-year. Authorities urge people to check on elderly loved ones regularly and advise never mailing cash, being wary of demands for secrecy or quick action, and calling trusted family members or local police before sending money in unusual ways.

Scammers are impersonating law enforcement, government agencies, and bank officials to trick seniors into buying physical gold and handing it over, often after coaching victims on what to say and pressuring them to keep transactions secret from family. The scheme typically starts with phone calls, texts, or emails claiming the victim's bank account is compromised or that they're under investigation, creating false urgency to buy gold. Families should watch for warning signs like requests to keep transactions private or buy gold, and remember that legitimate law enforcement and bank officials will never ask someone to purchase gold or hide financial transactions from loved ones.

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Financial fraud has evolved into large-scale criminal operations targeting seniors through romance scams, cryptocurrency schemes, and impersonation fraud. Idaho experienced a significant surge in cybercrime complaints, rising from 1,800 complaints totaling $17.7 million in 2021 to over 3,000 complaints resulting in $63 million in losses in 2024. AARP Idaho is hosting a Senior Fraud and Financial Exploitation Prevention Roadshow across four locations to educate seniors on recognizing red flags and protecting themselves from organized cybercriminals.

Romance and confidence fraud caused $601 million in damages to 16,504 victims across the United States in 2023, with an average loss of $36,459 per victim. Idaho was hit hardest, with 112 victims losing $6.9 million ($61,784 per person), while scammers posing as online pen pals or relatives in distress targeted victims primarily through email and social media. Elderly victims aged 60 and older comprised approximately 40% of victims and suffered $365.9 million in losses.

Idaho passed a "report and hold" law effective July 1 that allows financial institutions to temporarily freeze transactions for up to 15 days if they suspect adults 65 and older or those with disabilities are being targeted by scammers seeking fraudulent transfers. Idaho consumers reported losing nearly $54 million to scams in the previous year, and the law enables banks and securities firms to report suspected financial exploitation to state officials while investigating red flags such as sudden withdrawals, unusual contact changes, or nervous customer behavior during transactions. The legislation fills a gap as Idaho becomes one of only 26 states with such protections applying to both the banking and securities industries.