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channelnewsasia.com
· 2026-02-26
Singapore
Government officials impersonation scam cases jumped 123.6 per cent last year, however.
There were 37,308 scam cases in 2025, a 27.6 per cent drop from the 51,501 cases recorded in 2024. (...
devdiscourse.com
· 2026-02-26
In a significant breakthrough, the Delhi Police have detained three individuals charged with deceiving a 75-year-old woman in a sophisticated digital fraud scheme. The perpetrators, identified as Yoge...
usatoday.com
· 2026-02-25
# Romance Scams Summary
Romance scams are surging, with victims losing thousands to thousands of dollars to scammers who pose as love interests or impersonate celebrities on dating apps and social media platforms like Instagram, Facebook, and Telegram. Victims—ranging from individuals to vulnerable populations like the elderly and those dealing with mental health issues—are being manipulated into sending money via gift cards, wire transfers, and cash, with some losing entire retirement savings or monthly mortgage payments. To stay safe, be cautious of online romantic connections who quickly ask for money, verify the identity of anyone claiming to be a celebrity, and never send gift cards or wire money to someone you haven't met in person.
liphookherald.com
· 2026-02-25
Romance scams have surged with criminals now using AI-generated images and deepfake technology to create convincing fake identities and build trust before stealing money—one victim lost £35,000 after being deceived by a fake suitor over months. The scams are particularly effective because they exploit emotions and can imitate trusted individuals, making them increasingly difficult to detect. To protect yourself, be cautious of messages designed to trigger strong emotions, verify identities before responding, keep devices updated, and be wary of unusual payment requests involving cash, cryptocurrency, or wire transfers.
ksl.com
· 2026-02-25
Online scams and identity theft are widespread problems affecting 73% of U.S. adults, with scammers using increasingly sophisticated tactics like AI-generated phishing emails and cloned voices to trick victims. To protect yourself, experts recommend verifying website security by checking that URLs begin with "https://" rather than "http://," adjusting browser settings to only allow secure connections, and carefully checking website spellings and domain extensions before sharing personal information. Taking these preventive steps can significantly reduce your risk of becoming a scam victim.
wdtn.com
· 2026-02-25
# Fraud Scheme Summary
A 41-year-old man has been sentenced to eight years in prison for his role as a courier in a fraud scheme that defrauded elderly Americans of over $500,000. Victims, predominantly seniors aged 65 and older, were targeted through text messages impersonating customer service representatives or government officials who falsely claimed their bank accounts were compromised and warned of arrest warrants or asset seizure to pressure them into withdrawing large amounts of cash or buying gold bars. To protect yourself, be skeptical of unsolicited contact from supposed officials, never withdraw large sums of money based on phone or text claims, verify requests directly with your bank or government agency through official channels, and report suspicious communications to authorities immediately.
carrollspaper.com
· 2026-02-25
# Fraud Prevention Workshop for Seniors
Iowa State University Extension is hosting a free fraud prevention workshop on March 5 aimed at protecting older adults, who are disproportionately targeted by scammers—with elder financial fraud being the most common form of elder abuse affecting over 50 million Americans aged 62 and older. The program will teach participants how to identify warning signs of common scams and learn practical strategies to protect their finances and assets. Anyone age 60+ or their caregivers can register free of charge at www.extension.iastate.edu/humansciences/stay-independent or by calling 712-792-2364.
newsnationnow.com
· 2026-02-25
A major international elder fraud network was dismantled in St. Louis, involving scammers who posed as computer tech support to convince elderly victims their retirement accounts were compromised, then sent local couriers to collect their life savings converted into gold bars. Five people, including 23-year-old courier Dariona Lambert, pleaded guilty to the scheme that defrauded seniors across ten states of millions of dollars. To protect yourself, be skeptical of unsolicited pop-up warnings about compromised accounts, never give out personal information to callers claiming to be tech support, and be suspicious if anyone requests you pick up or deliver packages from elderly people or government agencies—legitimate businesses don't operate this way.
amac.us
· 2026-02-25
Americans lost over $12.5 billion to scams in 2024, with nearly $3 billion from government imposter scams where criminals pose as Social Security Administration officials to steal money or personal information. Seniors are deliberately targeted through threats of arrest or promises of benefit increases, with scammers demanding payment via gift cards, cryptocurrency, or wire transfers. The key protection: legitimate government employees will never threaten you or demand immediate payment, so anyone receiving such communications should hang up, ignore it, and report it at ssa.gov/scam.
euronews.com
· 2026-02-24
Deepfake scams cost people approximately $1.1 billion worldwide in 2025—triple the losses from 2024—with over 80% of fraud occurring on social media platforms like Facebook, WhatsApp, and Telegram. Scammers use sophisticated deepfake videos and audio to impersonate celebrities, business leaders, and even politicians to promote fraudulent investments or build fake romantic relationships before requesting money from victims. To protect yourself, be skeptical of unexpected investment opportunities or romantic advances on social media, verify celebrity endorsements through official channels, and never send money to people you've only met online.
nz.news.yahoo.com
· 2026-02-24
Deepfake scams have tripled in 2025, defrauding people of approximately $1.1 billion worldwide, with over 80% of losses occurring on social media platforms like Facebook, WhatsApp, and Telegram. Scammers are using increasingly sophisticated deepfake videos and audio to impersonate celebrities, politicians, and financial leaders to promote fraudulent investments, as well as creating fake romantic relationships to extract money from victims. To protect yourself, be skeptical of unsolicited investment opportunities and romantic advances on social media, verify celebrity endorsements through official channels, and never send money to people you've only met online.
fox2now.com
· 2026-02-24
A network of international fraudsters operating an elder scam has been dismantled in St. Louis, with five people pleading guilty to targeting elderly victims through fake computer tech support warnings and stealing millions in converted gold bars. The scheme involved overseas criminals recruiting local couriers—like 23-year-old Dariona Lambert who was caught picking up nearly $1 million from a St. Louis senior—to collect victims' life savings from their homes. To protect yourself, be suspicious of unsolicited pop-up warnings about compromised accounts, never give personal information to callers claiming to be tech support, and alert authorities if asked to withdraw large sums or handle suspicious packages.
yahoo.com
· 2026-02-24
A St. Louis-based elder fraud ring that operated internationally has been dismantled, with five people pleading guilty including 23-year-old Dariona Lambert, who served as a "courier" picking up victims' life savings converted to gold bars. The scheme typically began with fake computer tech support pop-ups warning of compromised accounts, followed by persistent psychological manipulation to convince elderly victims to withdraw their savings. To protect yourself, ignore unsolicited pop-up warnings about compromised accounts, hang up on unexpected tech support calls, and question any requests for large cash withdrawals or unusual deliveries—legitimate companies never ask you to convert money to gold bars or meet strangers for cash pickups.
aol.com
· 2026-02-24
A major fraud ring operating in Texas stole at least $55 million from elderly victims by impersonating federal agents and threatening them with arrest to coerce them into surrendering gold, cash, and cryptocurrency. The scheme is part of a growing crisis of elder fraud, with Americans over 60 accounting for 36% of all fraud reports and losing nearly $2.4 billion to scams in 2024 alone. To protect yourself and elderly relatives, remain skeptical of unsolicited calls or messages from officials making threats, remember that legitimate authorities won't demand payment by gift card or wire transfer, and verify any official claims by contacting the agency directly using a number from their official website.
localnewsmatters.org
· 2026-02-24
Two men have been sentenced to nearly four years in prison in Marin County for posing as licensed roofing contractors and defrauding elderly homeowners out of over $340,000 in 2024. The scammers, who targeted seniors ages 78-85, used fake business cards, invoices, and websites to convince victims to sign contracts and pay large down payments for roof repairs that were never completed. To protect yourself, authorities recommend verifying any contractor's license through California's Department of Consumer Affairs website before agreeing to any work or making payments.
republicworld.com
· 2026-02-24
An Indian national named Atharva Shailesh Sathawane, who overstayed his student visa, was sentenced to 18 years in prison for his role in a fraud scheme that defrauded elderly Americans of millions of dollars. Working as a courier for an international scam operation, Sathawane visited victims' homes to collect cash and gold after they were deceived into believing their retirement savings were at risk, personally handling over $6.6 million in stolen assets across multiple states over four months. Seniors should be cautious of unsolicited calls or visits claiming their assets are in danger, verify such claims directly with their financial institutions using official contact numbers, and report suspicious activity to local law enforcement immediately.
dallasexpress.com
· 2026-02-24
A San Antonio CEO named Devin Ward Elder pleaded guilty to operating a $69.5 million fraud scheme that deceived approximately 345 investors in fake real estate projects between 2023 and 2025. Elder used a Ponzi-like setup, falsely promising high returns with minimal risk and using new investors' money to pay fake "interest" to earlier investors, ultimately leaving victims with substantial losses when payments stopped in March 2025. To protect yourself, be skeptical of investment opportunities promising unusually high returns with minimal risk, verify a company's credentials and track record independently, and avoid putting money into deals where the operator claims to co-invest their own funds without transparent documentation.
finance.yahoo.com
· 2026-02-24
# Fraud Summary
A Texas crime ring stole at least $55 million from elderly victims by impersonating federal agents and threatening them into surrendering gold, cash, and cryptocurrency. The FTC reports that fraud targeting seniors has surged, with people over 60 accounting for 36% of all fraud reports in 2024 and losing approximately $2.4 billion to scams. To protect yourself and older relatives, be wary of unsolicited calls or messages from people claiming to be government officials, especially those creating urgency or threatening arrest—legitimate authorities will never demand immediate payment or asset transfers over the phone.
indiatoday.in
· 2026-02-24
A 23-year-old Indian national, Atharva Shailesh Sathawane, was sentenced to 18 years in prison in January 2025 for his role in wire fraud and money laundering schemes targeting senior citizens in the United States. The case has recently resurfaced on social media, where MAGA-aligned commentators have used it to push anti-immigrant rhetoric and criticize Biden-era immigration policies, claiming it demonstrates systematic fraud by foreign nationals. To protect yourself, seniors should be cautious about unsolicited calls or requests for personal information, verify caller identity independently, and report suspicious activity to authorities or the FBI's Internet Crime Complaint Center.
tradingview.com
· 2026-02-23
# Pig-Butchering Crypto Scams Summary
Pig-butchering scams are a growing threat in the cryptocurrency world where fraudsters build fake romantic or friendly relationships with victims over weeks or months before pressuring them to invest in fake crypto platforms, with reported losses reaching $370.3 million in January 2026 alone. Unlike quick phishing attacks, these scams use psychological manipulation—showing fake profits, requesting escalating deposits, and then blocking withdrawals—to exploit emotional trust and extract large sums of money. To protect yourself, be extremely cautious about unsolicited investment advice from people you've only met online, never share crypto wallet details with new contacts, and verify investment platforms through official regulatory databases before depositing any money.
nationaltoday.com
· 2026-02-23
New York Attorney General Letitia James has warned of "pig butchering" scams, where fraudsters build fake relationships with victims on social media and dating apps before convincing them to invest money in fraudulent schemes like cryptocurrency, sometimes resulting in losses exceeding $1 million. These sophisticated scams typically begin with friendly contact, move to encrypted chat platforms to hide the scammer's identity, and end with the perpetrator disappearing with the victim's savings. To protect yourself, remain cautious of unsolicited messages from strangers urging investments, verify investment opportunities independently, and report suspected scams to the Attorney General's office.
thehill.com
· 2026-02-23
The European Commission is investigating major tech companies like Apple, Google, and Microsoft for failing to prevent financial scams on their platforms, as online fraud losses reached $12.5-$16.6 billion in the U.S. in 2024. The article warns that while regulatory action targeting large platforms is a step forward, it may not adequately address rapidly evolving fraud tactics like deepfakes and voice cloning, which are increasingly being used to deceive consumers. To protect yourself, be cautious of unfamiliar banking apps and hotel listings, verify unexpected communications through official channels, and remain skeptical of urgent financial requests—especially those involving voices or videos you haven't independently confirmed.
dailymail.co.uk
· 2026-02-23
A 34-year-old man named Adam Mowle defrauded a victim of over £9,000 by posing as a woman named "Jenna Smith" on a dating app, claiming to need money due to illness and financial hardship. The victim, devastated by the scam, subsequently lost an additional £93,000 through desperate gambling attempts to recover his money, while Mowle spent the stolen funds on his horse and living expenses. To protect yourself from romance scams, be wary of requests for money from online dating matches, especially early in a relationship, verify identities through video calls, and never send cash to someone you haven't met in person.
thesun.co.uk
· 2026-02-23
A 53-year-old tech professional and fraud specialist named Tracy Cray intentionally strung along a romance scammer for nine months after recognizing classic con tactics on a dating site, including love bombing, requests to move to private messaging, and eventually requests for money. The scammer, posing as "Richy," used stolen photos from a real businessman in Florida and employed typical romance scam methods to try to extract money from victims. For people using dating apps, key warning signs include pressure to move conversations off-platform quickly, excessive declarations of love from someone you've just met, vague employment details with no online presence, and sudden requests for money due to emergencies or business problems.
vietnamnet.vn
· 2026-02-23
A 34-year-old man in Vietnam was arrested for posing as a wealthy real estate businessman on dating apps to lure hundreds of women into "sugar baby" arrangements, during which he would steal their valuables and record compromising videos. The suspect, Truong Nhat Phuong, used fake identities on platforms like Telegram to gain women's trust before robbing them at hotels, with authorities discovering he had operated this scam across multiple cities. To protect yourself, be cautious of romantic interests who quickly suggest meeting in private settings, verify claims of wealth through independent means, and never leave your belongings unattended with someone you've just met online.
thegeekiary.com
· 2026-02-23
This article is actually a TV show review, not a report about real fraud. It discusses episodes 3 and 4 of what appears to be a romantic comedy series called "MyRomance," where the plot involves characters running elaborate romantic scams on each other. The review focuses on the comedic elements and narrative pacing rather than providing information about actual scams affecting real people.
thecsrjournal.in
· 2026-02-23
An Indian national was sentenced to 18 years in prison for defrauding elderly Florida residents out of $6.6 million by posing as a trusted authority figure and convincing victims to buy gold bars under false pretenses. The scam specifically targeted vulnerable seniors who surrendered their life savings, part of a larger problem in Florida where elder fraud victims lost over $33 million last year to similar schemes. The FBI warns consumers to verify any unsolicited requests for money or investments independently through official channels before sending funds.
newsweek.com
· 2026-02-23
The U.S. Treasury Department recently sanctioned a timeshare fraud network allegedly run by Mexico's CJNG cartel, which has been systematically defrauding American retirees through high-pressure call centers that drain their savings. The cartel, led by "El Mencho" who was recently killed by Mexican forces, has diversified beyond drug trafficking into various scams targeting Americans, including elder fraud and cryptocurrency schemes. Seniors should be wary of unsolicited calls about timeshare properties and luxury vacation deals, verify any offers independently through official channels, and never provide personal financial information to unknown callers.
the420.in
· 2026-02-23
# Article Summary
A 23-year-old Indian national living illegally in the U.S. on an overstayed student visa was sentenced to 18 years in prison for his role in an international fraud scheme that targeted elderly Americans across multiple states. Working as a courier for a larger conspiracy based in India, Sathawane made at least 33 trips to victims' homes between summer and fall 2025, collecting over $6.6 million in cash and gold by convincing seniors to liquidate their retirement accounts under false pretenses. To protect yourself: elderly Americans should be wary of unsolicited calls or visitors pressuring them to convert savings to cash or gold, verify any financial advice through trusted sources, and report suspicious activity to authorities immediately.
english.tupaki.com
· 2026-02-23
A 23-year-old Indian man named Atharva Shailesh Sathawane was sentenced to 18 years in federal prison for his role in an international fraud scheme that victimized elderly Americans, causing approximately $15 million in losses. Sathawane acted as a courier in the operation, collecting cash and gold that elderly victims had been tricked into liquidating from their retirement savings, then delivering the valuables to co-conspirators overseas. To protect yourself, be extremely cautious of unsolicited offers involving liquidating savings or converting assets to cash or gold, verify any financial advice through independent sources, and report suspicious activity to law enforcement immediately.
financialexpress.com
· 2026-02-23
# Fraud Scheme Summary
A 23-year-old Indian national was sentenced to 18 years in prison for his role in an international fraud scheme that defrauded elderly Americans of approximately $6 million. Operating as a "courier," he convinced seniors to liquidate their retirement accounts and hand over cash and gold, which he then delivered to co-conspirators based in India. Elderly citizens should be cautious of unsolicited requests to withdraw retirement funds or hand over valuables, and should report suspicious activity to authorities immediately—it was a victim's suspicion that helped law enforcement break the case.
the-independent.com
· 2026-02-23
Colombian scammers set up a fake courtroom and law firm to defraud Spanish-speaking immigrants, including asylum seekers, out of tens of thousands of dollars by impersonating judges, attorneys, and federal officers. At least dozens of victims were affected, with at least one person deported after missing their real court hearings to attend the fraudulent proceedings. To protect yourself, verify any court appearance or legal representation directly with official government websites or by calling your local immigration court, never rely solely on information from unsolicited contacts, and seek help from legitimate legal aid organizations if you cannot afford an attorney.
knoxtntoday.com
· 2026-02-23
Two Knox County men lost a combined $500,000 in a sophisticated Bitcoin scam after clicking on a deceptive Facebook advertisement, with one man losing his entire life savings of $375,000. Detective Wayne Doster spent months investigating the international fraud ring operated from Malaysia, ultimately leading to the arrest of Lee Kah Poh, a Malaysian national who came to Tennessee to collect the money. To protect yourself, be extremely cautious about unsolicited investment opportunities on social media, never click links from unknown sources, and verify any investment through official channels before sending money.
cedirates.com
· 2026-02-22
# Romance Fraud Summary
Romance scams are costing Ghanaian women hundreds of thousands of dollars as fraudsters create fake online identities to build trust and then manipulate victims into sending money for fabricated emergencies or investments. A 2025 pan-African cybercrime operation across 14 countries resulted in 260 arrests, with 68 in Ghana alone and 108 identified victims who lost approximately $450,000, though authorities recovered $70,000. To protect yourself, be cautious of online relationships that quickly ask for money, verify identities through video calls, never send funds to strangers or for unexpected emergencies, and report suspicious activity to local authorities.
mocoshow.com
· 2026-02-22
# Fraud Alert Summary
International call centers operating from India defrauded hundreds of Americans out of nearly $49 million since 2022 through government impersonation and tech support scams, with Maryland residents losing over $6 million. Law enforcement in Maryland and India dismantled the operations and arrested multiple perpetrators, though authorities warn the scams continue to target vulnerable people, particularly seniors. To protect yourself, authorities advise being skeptical of unsolicited calls, texts, or pop-ups demanding urgent payment, and remember that legitimate government agencies will never call demanding money or threatening arrest.
centralillinoisproud.com
· 2026-02-22
McLean County residents are being targeted by scammers posing as sheriff's office employees who call claiming there's an arrest warrant and demand money, gift cards, or deposits to resolve it. The scammers spoof the sheriff's office phone number and may cite fake names like "Sgt. Haynes" or "Captain Edmon Smith," sometimes mentioning a "gag order" to prevent victims from seeking help. If you receive such a call, hang up immediately and contact local police, as legitimate law enforcement will never request money or warrant information over the phone.
thenationonlineng.net
· 2026-02-22
Osun State Governor Ademola Adeleke faces calls to resign after an alleged N13.7 billion annual payroll fraud was discovered, in which ghost workers (non-existent employees) were being paid salaries, with one individual allegedly receiving funds meant for over 5,600 workers. The opposition APC party is demanding Adeleke's resignation and calling for anti-corruption agencies to investigate the matter, noting that the misappropriated public funds could have benefited tens of thousands of young people in the state. Citizens and businesses in Osun State are affected by this loss of public resources meant for legitimate government services and payroll.
techbullion.com
· 2026-02-22
# Article Summary
A "pig butchering" scam is a sophisticated fraud where criminals build false trust with victims over weeks or months before stealing their cryptocurrency. Victims who discover they've been scammed should immediately stop communicating with the perpetrator, preserve all evidence (screenshots of messages, profiles, and transactions), and report the theft to authorities and recovery services like Pro Crypto Recovery—while being cautious of recovery scams themselves. The key advice is to treat your phone and computer as a crime scene, gather documentation of all communications and blockchain transactions, and resist the urge to respond to scammers, as alerting them could cause them to destroy evidence.
cbsnews.com
· 2026-02-21
# Fraud Awareness Summary
The Boulder County Sheriff's Office launched a new training program to help people recognize and avoid fraud scams, after Sheriff's Victim Advocate Stephen Conley witnessed fraud impact his own family members through grandparent and tech support scams. The program, targeting seniors and the general public, teaches people to recognize warning signs like urgency, requests for secrecy, password demands, and money transfers—using the acronym SUPER as a memory tool. The key advice is to slow down when contacted with urgent demands, pause before acting, talk to someone you trust, and ask yourself "Could this be a scam?" before sending money or personal information.
fox8live.com
· 2026-02-21
Two scammers, Kenneth Akpieyi and Emuobosan Emmanuella Hall, were sentenced to over three decades in prison for orchestrating a romance fraud scheme that targeted vulnerable widows over 60, stealing nearly $10 million across multiple victims. The victims, including a 77-year-old woman from Louisiana who lost over $100,000, were approached through social media by the fraudsters who posed as romantic interests. To protect yourself, be cautious of online romantic relationships that quickly request money or financial information, verify identities through video calls, and never send money to people you haven't met in person—especially if they claim to need emergency funds or have investment opportunities.
wehoonline.com
· 2026-02-21
A West Hollywood man named James Kantor was sentenced to over four years in prison for his role in a fraud scheme targeting elderly and deceased people, where conspirators forged wills and trust documents to steal estates. The scheme began when one member of the group broke into homes of vulnerable people, and after discovering a deceased resident, the conspirators used stolen personal information to fraudulently access and transfer assets. If you have elderly relatives, especially those you're not in frequent contact with, regularly check in on them and monitor their financial accounts and important documents for suspicious activity.
the-sun.com
· 2026-02-21
Two men were sentenced to federal prison for running a sophisticated online romance scam that defrauded 31 elderly women, primarily widows, of nearly $10 million. The scammers created fake identities as military generals, engineers, and other professionals on social media platforms like Facebook and Instagram, then manipulated victims into sending money under false pretenses such as emergency repairs or business ventures. To protect yourself, be cautious of online romantic connections with people you've never met in person, verify identities through video calls, and never send money to strangers regardless of their claimed circumstances.
amac.us
· 2026-02-21
Foreign-based scam operations are increasingly targeting seniors, stealing billions of dollars annually by exploiting vulnerable populations and weak international law enforcement. AMAC, a senior advocacy organization with over 2 million members, is supporting HR 5490, the Dismantle Foreign Scam Syndicates Act, which aims to strengthen enforcement against overseas fraud rings and improve coordination among federal agencies. Seniors should be cautious about unsolicited phone calls and emails, and they can help protect themselves by verifying caller identities and reporting suspicious contact to authorities.
bankinfosecurity.com
· 2026-02-21
Cambodia shut down approximately 190 online scam centers and arrested 11,000 foreign nationals in a major crackdown on transnational fraud operations that were running romance and investment scams on a massive scale, generating tens of billions of dollars annually for criminal gangs. The scam centers, which primarily operated in Phnom Penh and southern Cambodia, exploited trafficked and forced workers to defraud victims, with prominent targets including Chen Zhi, founder of Prince Holding Group, who was indicted by the U.S. Department of Justice for overseeing multiple compounds since 2015. To protect yourself, be cautious of unsolicited romantic or investment opportunities online, verify the legitimacy of financial institutions directly through official channels, and report suspicious activity to law enforcement.
carrollspaper.com
· 2026-02-20
# Fraud Prevention Program for Seniors
Iowa State University Extension is hosting a free fraud prevention workshop on March 5, 2026, in Carroll to help seniors and their caregivers protect themselves from financial scams, which disproportionately target older adults—elder financial fraud is the most common form of elder abuse affecting millions of Americans age 62 and older. The program will teach participants how to identify common scams, recognize warning signs, and implement protective strategies for their finances. Interested attendees must pre-register by contacting the Carroll County Extension Office at 712-792-2364 or through the Iowa State Extension website.
sacurrent.com
· 2026-02-20
San Antonio real estate CEO Devin Ward Elder pleaded guilty to wire fraud for operating a $69.5 million Ponzi scheme that defrauded 345 investors between 2021 and 2023. Elder falsely promised high returns on real estate investments while actually using money from new investors to pay earlier ones, eventually stopping all payments in March 2023 and telling investors to expect total losses. To protect yourself, be cautious of investment opportunities promising unusually high returns with minimal risk, verify that investment managers have actually invested their own money alongside yours, and research investment firms thoroughly before committing funds.
nationaltoday.com
· 2026-02-20
San Antonio real estate entrepreneur Devin Elder pleaded guilty to wire fraud for operating a Ponzi scheme that defrauded approximately 345 investors of $69.5 million across 17 real estate projects. Elder falsely claimed he would co-invest his own money in projects while actually contributing almost nothing, and illegally used investor funds from one project to pay returns on another—a classic Ponzi scheme structure. To protect yourself, be wary of real estate investment schemes promising high returns, verify that promoters have genuine "skin in the game" with their own money at risk, and thoroughly research any investment opportunity before committing funds.
bisnow.com
· 2026-02-20
San Antonio real estate CEO Devin Ward Elder pleaded guilty to wire fraud for operating a $69.5 million Ponzi scheme that defrauded over 300 investors between January 2023 and March 2025. Elder promised high returns with low risk while secretly using money from new investors to pay returns to earlier investors, eventually admitting in March 2025 that investors would lose significant portions of their capital. To protect yourself from similar schemes, be wary of investment promises that sound too good to be true, verify that fund managers actually co-invest their own money as claimed, and research a company's financial stability and regulatory standing before investing.
texasborderbusiness.com
· 2026-02-20
A San Antonio investment firm CEO named Devin Ward Elder pleaded guilty to defrauding approximately 345 investors out of $69.5 million between 2023 and 2025 through his company DJE Texas Management Group, which promised high returns on real estate investments. Elder made false claims about his own co-investment and operated a Ponzi scheme by using new investor funds to pay "interest" to existing investors, ultimately halting all payments in March 2025. To protect yourself, be skeptical of investment opportunities promising unusually high returns with low risk, verify that investment managers have their own money invested alongside yours, and always research the credentials and track record of firms and their operators before investing.
ktsa.com
· 2026-02-20
A San Antonio investment firm CEO named Devin Ward Elder pleaded guilty to defrauding approximately 345 investors out of over $69.5 million between January 2023 and March 2025 through his company DJE Texas Management Group, which promised high returns on real estate investments while falsely claiming he would co-invest his own money. Elder operated a Ponzi scheme, paying some investors with money from other investors rather than actual returns, until he abruptly stopped payments in March 2025 and admitted the projects wouldn't be completed. To protect yourself, be cautious of investment opportunities promising unusually high returns with low risk, verify that investment managers actually co-invest their own money, and thoroughly research companies and their track records before committing funds.