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in Financial Crime
lilifepolitics.com
· 2025-12-08
Two New Jersey men were arrested in Massapequa for attempting to defraud an 80-year-old woman in a fake FBI agent scam on July 24. The victim was told she faced federal charges and was pressured to purchase $125,000 in gold to hand over to authorities; detectives intervened when she attempted the purchase and arrested the courier who came to collect the gold, along with an accomplice waiting in a nearby vehicle. Both suspects were charged with Attempted Grand Larceny in the Second Degree.
goldrushcam.com
· 2025-12-08
Turlock Police arrested 40-year-old Yuwen Zheng in connection with an elaborate fraud scheme targeting a senior citizen, who lost thousands of dollars after being deceived by perpetrators posing as representatives from established companies and government agencies. Zheng was apprehended at the victim's residence while attempting to collect additional cash in person, and detectives believe there may be additional elderly victims in the Turlock area and beyond. Zheng was booked on charges of theft by false pretenses and elder abuse.
tribtoday.com
· 2025-12-08
The article describes five active scams in the Valley area: fake delivery drivers posing as legitimate couriers to extort payment for nonexistent packages, sweepstakes fraud schemes that have resulted in losses exceeding $100,000, fraudsters using stolen personal information to open vehicle accounts in victims' names, scammers impersonating police officers and bail bondsmen to extort payment, and unlicensed door-to-door salespeople operating without required permits. Residents are advised to verify identities before sharing personal information, hang up on suspicious callers, and familiarize themselves with local soliciting regulations to protect against these schemes.
ama-assn.org
· 2025-12-08
Two federal agencies—the DEA and CMS—issued warnings about scams targeting physicians that impersonate government officials to fraudulently obtain medical records, personal information, or payments. The DEA alerts physicians to impersonation schemes claiming to investigate their practices via phone or letter, while CMS warns of fraudulent requests for medical records or alleged Medicare debt payments. Both agencies emphasize that their personnel do not initiate contact via unsolicited calls, emails, or faxes demanding information or payment, and recommend reporting suspicious incidents to the FBI or Federal Trade Commission.
hawaiinewsnow.com
· 2025-12-08
The Honolulu Police Department warned of a fake arrest scam in which fraudsters impersonated attorneys and demanded bail money for purportedly arrested relatives. One resident nearly lost $8,000 after being told her son was arrested in a car crash, but bank staff identified the call as suspicious and the victim confirmed her son was safe. Police advised that bail payments are only accepted at police stations, and urged residents to ignore calls from unknown numbers and never share personal information or send money to unfamiliar callers.
cambridgema.gov
· 2025-12-08
Scammers are impersonating Cambridge Police Department officers via phone calls, using spoofed caller IDs to appear legitimate while demanding personal information or financial payments (often in Bitcoin or gift cards) to clear fake arrest warrants or help fictitious persons in distress. Legitimate law enforcement never requests personal information, financial compensation, or payments over the phone; all sensitive matters are handled in-person at police stations and any penalties are paid directly to official agencies. Victims should contact their financial institutions and report the incident to their local police department.
fox23maine.com
· 2025-12-08
Maine secured a federal grant to create the nation's first dedicated elder justice investigator position, filled by Kennebuck Police Officer Candice Simeoni, as part of a two-year pilot program to address rising elder fraud and abuse. According to the FBI, one in ten seniors becomes a victim of elder crime, though few report it; Simeoni notes that over 85 percent of elder abuse is perpetrated by someone the victim knows and trusts, often involving financial crimes and cognitive impairment. The investigator will focus on investigations, research, and education to protect Maine's vulnerable senior population.
justice.gov
· 2025-12-08
**Summary:**
From February 2020 through September 2021, Matthew Cahill and three co-conspirators stole checks, bank account information, and personal identifying information from U.S. Mail to commit bank fraud, altering or creating counterfeit checks that they cashed, deposited, or used at retail stores, and also made unauthorized electronic transfers. The scheme resulted in losses of $67,807, and Cahill was sentenced to 23 months in prison with $30,737 in restitution; his co-conspirators received sentences ranging from 12 to 24 months in prison with restitution orders totaling over $47,000.
patch.com
· 2025-12-08
North Branford police conducted an elder fraud awareness presentation at Evergreen Woods Community to educate seniors on prevention strategies. The presentation highlighted that seniors lose more than $3 billion annually to various fraud schemes including romance scams, tech support scams, grandparent scams, and government impersonation scams, with tips provided on how to recognize and protect against these threats.
kiplinger.com
· 2025-12-08
A 2025 bipartisan report highlights that fraud and scams cost seniors $4.8 billion in 2024, with investment, cryptocurrency, and romance scams posing the greatest risks to older adults who are often targeted due to politeness, trust, and unfamiliarity with digital technologies. Common scams include Medicare fraud ($80.5 million in losses), imposter scams ($789 million in losses), phishing, and deepfakes, which cause not only financial devastation but also significant emotional and physical health impacts on victims.
reviewjournal.com
· 2025-12-08
A hospice agent conducted door-to-door solicitation in Texas claiming to represent Medicare and offer free hospice services, a newly identified scam targeting Medicare beneficiaries. Medicare officials warn that legitimate Medicare will never solicit services via unsolicited calls or home visits, and recipients should never share personal information with unknown callers; those suspecting fraud should contact the Medicare fraud hotline at 800-633-4227 or Senior Medicare Patrol at 877-808-2468.
cbsnews.com
· 2025-12-08
A 39-year-old Whittier man, Christopher Earl Lloyd, was arrested for allegedly defrauding over $2 million from at least five victims through romance scams conducted on dating apps (Tinder, Hinge, and Bumble) between April 2021 and February 2024. Lloyd posed as a financially successful investment manager and vice president, convincing victims to invest money with promises of returns, then misappropriated the funds for personal use including a $40,000 vehicle purchase. He faces 13 counts of wire fraud and one count of monetary transaction in property derived from fraud, with potential sentences up to 20 years in federal prison.
justice.gov
· 2025-12-08
Christopher Earl Lloyd, a 39-year-old from Whittier, was arrested on federal charges for operating a romance scam through dating apps including Tinder, Hinge, and Bumble that defrauded victims of over $2 million between April 2021 and February 2024. Lloyd posed as a financially successful investment professional, falsely claiming to be a vice president at Planet 13 Holdings and a financial manager, and convinced victims to send him money for fake investment opportunities that he used for personal expenses including a $40,000 Lexus purchase. He faces 14 federal counts including 13 counts of wire fraud and one count of monetary transaction in property derived from
mcknightsseniorliving.com
· 2025-12-08
Federal lawmakers are pressing government agencies to strengthen efforts against elder fraud, which caused $5 billion in losses in 2024, with elder fraud complaints to the FBI increasing 14% in 2023. Senators Gillibrand and Warren have requested that the Government Accountability Office investigate how job cuts at federal agencies will impact fraud prevention capabilities, particularly at the Consumer Financial Protection Bureau. Additionally, a bipartisan group of senators sent a letter to federal officials requesting coordinated investigations to dismantle foreign fraud networks and outlined five priority areas for scam prevention, including public awareness campaigns and improved interagency coordination.
rocketcitynow.com
· 2025-12-08
Financial fraud targeting older Americans reached nearly $5 billion in losses in 2024, with over 147,000 complaints reported to the FBI's Internet Crime Complaint Center—a 46 percent increase from the previous year. TARCOG's Senior Medicare Patrol is hosting a free Fraud and Scam Summit on August 20 at Athens State University to educate seniors and caregivers on recognizing scams, preventing identity theft, and reporting suspected financial abuse, with preregistration required.
aol.com
· 2025-12-08
A 36-year-old Canadian man, Jia Hua Liu, was arrested in July after conducting a multi-state door-to-door scam targeting seniors across Ohio, Indiana, New Mexico, and Tennessee, defrauding victims of an estimated $309,000 total. One Charlestown, Indiana resident was tricked into withdrawing $27,000 from his retirement accounts and handing it over in cash; three additional attempted scams in Indiana, Kentucky, and Michigan were prevented by family members, potentially saving another $70,000 in losses. Liu was apprehended at Louisville airport while attempting to flee the country and faces charges including theft, fraud, conspiracy, an
floridadaily.com
· 2025-12-08
Eight people have been charged in a sophisticated $8.8 million bank fraud operation that victimized over 230 people, many of them seniors, after three Maryland bank employees allegedly used their access to steal customer information including Social Security numbers and account details, which co-conspirators then used to open fraudulent accounts and transfer funds. The defendants, arrested across multiple states, face charges including racketeering, conspiracy, identity fraud, and unauthorized computer access, with bonds ranging from $10,000 to $1,020,000. Authorities recovered some stolen funds that were spent on personal purchases including vehicles, and the case involved coordination between Florida, Maryland, Virginia, and Missouri law enforcement agencies.
kmbc.com
· 2025-12-08
Trenton and Kirsten Hansuld were denied bond reduction after being accused of stealing over $3.2 million in money and property from an elderly couple they knew in Ray County, Missouri. The investigation began with a fraud alert from Bank Midwest in June 2024, revealing that Trenton Hansuld had added himself to the victims' account and withdrawn over $800,000 since November 2022, and had fraudulently changed the deed to their home and farmland into his own name. The couple, who owned an exotic pet shop, face decades in prison, and prosecutors are investigating whether there are additional victims.
wfmz.com
· 2025-12-08
A senior couple in Lehigh County, Pennsylvania was scammed out of $20,000 through a phishing email scheme in which scammers impersonated Apple Customer Support, claimed fraudulent charges had occurred, and eventually sent someone to their home to collect cash in person. The scammers contacted the couple over 20 times via email, directing them to a fake help-line and falsely telling them Apple had accidentally deposited $20,000 into their account that needed to be repaid. Financial exploitation through such scams is now the leading form of elder abuse reported in Pennsylvania, with an estimated $2 billion annually stolen from older adults in the state.
tampafp.com
· 2025-12-08
A multi-state fraud operation that stole $8.8 million from 235 predominantly elderly victims was dismantled, resulting in eight arrests in Polk County, Florida. The scheme involved three M&T Bank employees in Maryland who sold stolen customer data via Telegram to fraudsters, who then used the credentials to drain bank accounts and purchase luxury items. The perpetrators, including bank insiders Antonio Penn, Roshado Durrant, and others, face racketeering and related felony charges with bonds exceeding $1 million.
diyatvusa.com
· 2025-12-08
A New Jersey man, Pranav Patel, was sentenced to over six years in federal prison for acting as a "money mule" in a nationwide elder fraud scheme that defrauded 11 seniors across seven states of nearly $1.8 million between October and December 2023. Overseas scammers impersonated U.S. Treasury agents, convincing elderly victims they were under investigation and needed to surrender cash and gold for "safekeeping," with two Florida victims losing $170,000 and $732,000 respectively. Patel collected and transported the stolen funds and was arrested during a sting operation in December 2023; he was ordered to forfeit $1,
wfmz.com
· 2025-12-08
Pennsylvania State Police investigated a $20,000 fraud case in North Whitehall Township where elderly victims received phishing emails falsely claiming fraudulent Apple charges, then were manipulated by a scammer posing as "Thomas" into downloading remote access software and withdrawing cash that was handed to a courier using the code word "purple." The scam occurred on June 6, and police are seeking information about the unknown male courier who collected the money.
freep.com
· 2025-12-08
From January through April 2025, the Federal Trade Commission received over 75,000 reports of government imposter scams, with scammers impersonating U.S. Customs and Border Protection, Social Security, Medicare, and the FTC itself to steal money via phone and text. Consumers lost approximately $204 million total, with median losses ranging from $650 overall to $12,000 for FTC impersonation scams, typically requested through gift cards, cryptocurrency, wire transfers, or banking information. Scammers exploit current concerns about immigration, drug trafficking, and tariffs by claiming intercepted packages contain drugs or threatening arrest warrants to pressure victims into immediate payment.
whec.com
· 2025-12-08
In 2023, scammers impersonated Geek Squad (Best Buy's tech support subsidiary) more than any other company, with the FTC receiving 52,000 reports; the scam typically begins with fake invoices via email or text claiming unauthorized charges, then directs victims to remote access software (anydesk.com) to steal banking credentials and drain accounts. Red flags include non-official phone numbers, Gmail addresses, and pressure tactics claiming auto-renewal charges, and victims should report such scams to the FTC and Internet Crime Complaint Center.
vocal.media
· 2025-12-08
Romance scams cost Americans over $1.3 billion in 2022, with losses quadrupling over five years and affecting victims across all age groups, though those 50 and older account for approximately 60% of reported cases. Sarah, an Ohio woman, lost $45,000 to a romance scammer impersonating a successful oil rig worker named Marcus over three months before discovering the entire relationship was fabricated. These increasingly sophisticated, organized international schemes employ specialized teams that steal identities, build emotional connections through psychological manipulation, and exploit fundamental human needs for connection to extract money from victims.
moodys.com
· 2025-12-08
This article provides an overview of the evolving fraud landscape, noting that the United States experienced over 59,000 fraud risk events in 2024—a 12,500 event increase over five years—while globally, an estimated $1.03 trillion is lost annually to fraud schemes including credit card fraud, romance scams, phishing, and identity theft. Businesses are implementing comprehensive fraud prevention strategies, including ongoing screening and monitoring, third-party risk management, and compliance with new regulations like the UK's "failure to prevent" fraud offence that requires senior managers to allocate reasonable budgets for fraud prevention technology and training. The article emphasizes that effective fraud prevention requires collaboration among financial institutions, adverse
cbsnews.com
· 2025-12-08
Three men were arrested following a six-month investigation into a fraud scheme that defrauded over 75 elderly Texans of $1.5 million across North Texas cities including McKinney, Allen, Wylie, and Frisco. Operating under business names Precision Home Pros and Krishnaraj Construction, the suspects approached victims offering to reduce utility bills, then used forged electronic signatures to create unauthorized 20-year loans ranging from $13,000 to $32,500, funneling the funds through shell companies while victims remained liable for repayment. Prakash Krishnaraj (58), Christian Bolding (31), and Eric Ell (
rstreet.org
· 2025-12-08
The GUARD Act is a proposed federal rule that would authorize law enforcement agencies at all levels to use existing Department of Justice grant funds to investigate elder financial fraud and scams like pig butchering schemes, with support for emerging technologies, real-time intelligence sharing, and interagency coordination. The legislation addresses a critical need, as FBI data shows fraud complaints from adults over 60 increased 46 percent in 2024 to 147,127 cases, yet 78 percent of fraud victims do not report incidents to law enforcement due to shame and jurisdictional challenges that make prosecution difficult. The bill aims to combat transnational organized crime targeting elderly Americans, who face vulnerabilities including diminished digital literacy
bankingjournal.aba.com
· 2025-12-08
The House passed H.R. 1469, the Senior Security Act, which directs the Securities and Exchange Commission to establish a task force focused on protecting senior investors from exploitation and financial abuse. The task force will include SEC staff and outside experts to identify challenges seniors face, including cognitive decline and financial exploitation, and recommend regulatory improvements. The American Bankers Association supported the legislation as aligned with efforts to protect elderly customers from financial fraud.
mk.co.kr
· 2025-12-08
Voice phishing and its variants—including investment fraud, romance scams, smishing (text fraud), and fake reservation scams—have become increasingly sophisticated over the past 20 years, with the "five major phishing crimes" causing 1.687 trillion won in damages last year, 3.4 times more than robbery and theft combined. Victims of phishing crimes suffer average losses of 48.75 million won per case with less than 3% recovery rates, yet many phishing variants lack legal classification as telecommunications fraud and fall outside the official response system, leaving victims without integrated support channels or adequate online resources for assistance.
au.finance.yahoo.com
· 2025-12-08
Australians are being targeted in a growing "money mule" scheme where individuals rent out their bank accounts to criminals who use them to launder illegally obtained funds, typically earning $200-$500 plus commissions per transfer. The Australian Banking Association and Australian Federal Police reported detecting nearly 13,000 mule accounts in 2024-25, with one Sydney woman jailed in April 2024 after her 10 accounts were used to launder almost $4 million in criminal funds that were transferred overseas. Criminals recruit mules through social media, gaming platforms, and employment, threat, or romance scams, but authorities warn this activity facilitates money laundering and exposes participants
afp.gov.au
· 2025-12-08
Australian authorities are cracking down on money mules who rent or sell their bank accounts to criminals for $200-$500, with the AFP and Australian Banking Association warning that this activity enables money laundering and supports organized crime. Criminals recruit mules through employment scams, romance scams, and threats, routing illicit funds through legitimate bank accounts to obscure their origin; in one case, a Sydney woman was imprisoned in April 2025 for renting 10 accounts used to launder $3.8 million. Renting or selling bank accounts is illegal and can carry life imprisonment charges, and account holders risk being implicated in serious crimes including drug trafficking, extortion, and terrorism financing.
fox29.com
· 2025-12-08
A King of Prussia woman lost $6,430 in a jury duty scam after receiving a call from someone impersonating the Montgomery County Sheriff's Office, who threatened her with arrest and kept her on the phone for nearly three hours while directing her to wire money. The scammers spoofed legitimate county phone numbers and used official badge numbers and the sheriff's name to create false urgency, with the victim reporting she nearly realized the deception multiple times but was intimidated into completing the transaction. The Montgomery County Sheriff's Office confirmed this is a recurring scam affecting multiple victims, with at least one person losing $25,000.
12news.com
· 2025-12-08
A man in Peoria was defrauded of his life savings ($27,000) after receiving a fraudulent text claiming to be from Bank of America, which prompted him to call a scammer posing as bank security. The scammer instructed him to withdraw cash and deposit it through a fraudulent Apple Wallet card linked to an ATM, exploiting a novel social engineering technique. Detective Michael Finney of the Peoria Police Department's financial crimes unit recovered approximately 90% of the funds within five months through swift action, taking advantage of the critical 72-hour window for fund recovery in fraud cases.
wrdw.com
· 2025-12-08
The FBI warned South Carolina residents of a rising government impersonation scam in which criminals spoof FBI phone numbers, including the Columbia field office's main line, and threaten victims with arrest or prosecution for missed jury duty or warrants to extort money or personal information. Scammers use follow-up calls to pressure victims into withdrawing cash and converting it to cryptocurrency at kiosks to avoid fines. The FBI advises never providing personal information to unknown callers, refusing all payment requests via gift cards or cryptocurrency, and independently verifying any calls by hanging up and contacting the local field office directly.
local10.com
· 2025-12-08
The Broward Sheriff's Office warned of a rising bank impersonation scam in which callers posing as fraud investigators trick victims into withdrawing cash or surrendering debit cards and PINs. In recent months, the Pompano Beach District received over a dozen complaints with losses totaling thousands of dollars—including one victim who lost $15,000 and another couple who suffered over $9,000 in fraudulent charges after handing over their cards. Authorities emphasized that legitimate banks never request customers to withdraw money via ride-share services or surrender debit cards to third parties, and urged residents to hang up on suspicious calls and contact their banks directly using official numbers.
amac.us
· 2025-12-08
Seniors are frequent targets of relay attacks and phishing scams, particularly those impersonating Google/Gmail. Scammers send sophisticated fake emails appearing to be from Google, using stolen logos and bypassing spam filters to trick users into clicking malicious links and entering login credentials, thereby gaining unauthorized access to Gmail accounts, Google Drive, and connected apps. To protect themselves, seniors should verify sender email addresses, avoid clicking unfamiliar links, watch for misspellings or unusual characters, independently authenticate requests for personal information, and remember that legitimate companies like Google never ask users to provide sensitive account details via email.
wvnews.com
· 2025-12-08
Seniors aged 60 and older face significant financial fraud threats, prompting the U.S. Department of Justice's Elder Justice Initiative to coordinate education and prevention efforts. Common scams targeting older adults include Social Security impostor scams (using caller ID spoofing to demand fund transfers to gift cards), tech support scams (requesting remote device access and fabricating charges), lottery scams (claiming foreign winnings while requesting fees), and romance scams (exploiting dating platforms to solicit money). Additional resources on these scams are available through the Justice Department's elder justice website.
moneycontrol.com
· 2025-12-08
This content is not an article about elder fraud, scams, or elder abuse. It is a website footer/consent notice for Moneycontrol, a financial news and information platform, describing cookie policies, privacy agreements, and user consent options. It does not contain relevant material for the Elderus fraud research database.
mk.co.kr
· 2025-12-08
Nineteen Korean members of an international romance scam operation were arrested in Pattaya, Thailand on the 21st following a joint raid by Korean and Thai police at a pool villa complex. The organized crime ring operated from the villa using dozens of computers to execute romance scams and voice phishing schemes, with members assigned specific roles in the fraud operation. Korean authorities dispatched an investigation team to analyze the electronic devices and evidence on-site, and are coordinating with Thai officials to repatriate the suspects and develop joint countermeasures against Southeast Asia-based international organized crime.
wral.com
· 2025-12-08
Scammers targeted a news station twice using spoofed caller IDs displaying "Verizon Agent" to impersonate legitimate company representatives and claim fraudulent iPhone charges on the victim's account. The scam was notable for explicitly stating no personal information would be requested—an unusual tactic that makes the fraud harder to identify using standard warning signs. Verizon confirmed the calls were fraudulent, originating from spoofed numbers, and advised consumers to verify legitimate calls through official numbers, check for verified checkmarks on caller IDs, and use call-blocking tools.
panewslab.com
· 2025-12-08
A cryptocurrency investment scam originating from mainland China spread to Hong Kong in 2025, affecting at least 118 victims aged 33-80 who lost approximately HK$3.2 million through a fraudulent platform called "DGCX Xinkangjia." Hong Kong police arrested four local suspects in July 2025 for organizing promotional dinners that recruited victims and collected HK$3.89 million, though most funds remain unrecovered as the fake trading platform never invested the money and used funds to maintain operations and process other victims' withdrawals. The use of USDT stablecoin for transactions has complicated investigation, fund recovery, and victim compensation efforts.
indianexpress.com
· 2025-12-08
A seminar in Chandigarh organized by the Second Inning Association highlighted digital fraud as an escalating threat to senior citizens, with police, Reserve Bank of India, and Bombay Stock Exchange officials warning that cybercriminals use psychological manipulation, fake rewards, and impersonation to target vulnerable elderly individuals—even highly educated retirees and former bureaucrats. Experts emphasized that victims should immediately report crimes to police (dial 112) or the cybercrime helpline (1930), practice "digital isolation" by verifying messages before responding, and that financial institutions must enhance staff training and client education on cyber safety. In Chandigarh alone, cybercrimes
indianexpress.com
· 2025-12-08
A seminar in Chandigarh organized by the Second Inning Association addressed the growing threat of digital fraud targeting senior citizens, with officials from Chandigarh Police, the Reserve Bank of India, and Bombay Stock Exchange highlighting that cybercriminals exploit ignorance, fear, and greed through phishing scams, fake investment offers, and fraudulent calls—even affecting highly educated and retired professionals. The experts recommended that financial institutions increase cyber safety education for elderly clients, staff train to detect suspicious activity, victims report crimes immediately to police (dial 112) or the cybercrime helpline (1930), and individuals practice "digital isolation" by verifying messages before responding. In one
northfortynews.com
· 2025-12-08
The Larimer County Sheriff's Office issued a public alert about a surge in fraud targeting Northern Colorado residents, particularly seniors and small business owners, including romance scams, bank impersonation, fake government texts (DMV, law enforcement), and business invoice schemes that pressure victims to pay via Bitcoin, gift cards, or money apps. Common red flags include unsolicited requests for personal information, urgent threats, and payment demands via untraceable methods, with victims urged to verify requests directly with official sources and report fraud to law enforcement and agencies like the FTC and IdentityTheft.gov.
gulfnews.com
· 2025-12-08
Dubai Police arrested a cybercrime gang that defrauded victims through fake investment and trading schemes promoted on social media and via phone calls. The gang falsely claimed to represent legitimate investment platforms, convincing victims to transfer funds to offshore accounts with promises of high quick profits. Dubai Police warns the public to verify investment offers through authorized institutions only and report suspicious activity through official channels.
koco.com
· 2025-12-08
Multiple scams are currently targeting Oklahomans, including fake bank fraud calls where scammers impersonate financial institutions to obtain personal information and conduct unauthorized wire transfers, as well as grandparent scams where callers impersonate relatives claiming to be in emergencies. To protect themselves, Oklahomans are advised to hang up on unsolicited calls, avoid sharing personal information like passwords or account numbers, independently verify emergencies by directly contacting the person or institution involved, and report suspected scams to police, banks, and the state attorney general's office.
forbes.com
· 2025-12-08
Michael Shannon Sims and Juan Carlos Reynoso were charged with wire fraud and money laundering for operating OmegaPro, a fraudulent forex trading platform that defrauded investors of over $650 million between 2019 and 2023. The scheme operated as a Ponzi scheme with pyramid scheme elements, using lavish promotional events and social media displays of wealth to lure victims with promises of up to 300% returns, while no actual trading occurred and the defendants used stolen funds for personal expenses. The scam eventually collapsed in 2023 when victims were told their accounts had been "hacked" and were directed to a non-existent successor platform, leaving them unable
corrections1.com
· 2025-12-08
Jared Borgesto Murray, 41, of St. Petersburg, Florida, defrauded Lowe's Hardware Store of $1,260,495.89 between January 2019 and September 2020 while serving a state prison sentence for robbery, using contraband phones to impersonate customers and fraudulently purchase products on credit that he and co-conspirators then resold online. Murray used some of the proceeds to purchase materials for a home in Lake Placid, which authorities later seized along with $43,550 from his bank accounts. He was sentenced to four years and nine months in federal prison after pleading guilty to conspiracy to commit mail and wire fraud.