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6,060 results in Investment Fraud
saharareporters.com
Oluwasegun Baiyewu, 37, of Richmond, Texas, was convicted by a federal jury in Puerto Rico for conspiracy to launder funds from large-scale fraud schemes including romance scams, pandemic relief fraud, and business email compromise attacks that disproportionately targeted elderly and vulnerable Americans. Baiyewu and four co-conspirators routed stolen proceeds through multiple accounts to conceal their origin, then used the funds to purchase used cars shipped to Nigeria and distribute money to other co-conspirators between 2020 and 2021. The defendants will be sentenced by the District of Puerto Rico court.
tulsapeople.com
Scam losses in Oklahoma exceeded $72 million in 2024 and have tripled over the past five years, with increasingly emotionally manipulative tactics targeting older adults. Common scams include phishing, grandparent scams, tech support fraud, romance scams, and cryptocurrency schemes. Protection strategies include pausing before clicking links, researching contacts independently, using strong passwords with two-factor authentication, avoiding cryptocurrency and gift card payments, and reporting suspected fraud to the Oklahoma Attorney General, FTC, or AARP's Fraud Watch helpline.
financialpost.com
Canadians lost $310.6 million to investment fraud in 2024, with deepfakes of celebrities and politicians used in fraudulent social media ads promising unrealistic returns. While reported cases have leveled off since 2022, experts estimate only 5-10 percent of fraud incidents are reported due to victim shame and underreporting. Younger Canadians aged 18-24 are experiencing the largest rise in reported fraud victimization, and the article advises protecting oneself through digital privacy awareness, recognizing red flags in investment ads, and reporting suspected fraud.
nbcnews.com
Lightning Shared Scooter Co. (LSSC), a fraudulent investment scheme posing as a Hong Kong-based scooter-sharing company, defrauded hundreds or thousands of victims by promising returns on initial investments of $2,000-$65,000 that could be monitored and withdrawn through a mobile app. The scam used fake endorsements from public figures (including Sean Spicer), local officials, military personnel, and fabricated storefronts in at least eight U.S. cities to gain credibility, particularly targeting immigrant and lower-income communities who invested life savings and college funds. Victims discovered last month they could not withdraw earnings, with law
irishexaminer.com
French actor Dany Boon was defrauded of nearly €7 million by Thierry Fialek-Birles, a con artist who posed as an Oxford-educated Irish aristocrat and maritime lawyer. Operating under multiple aliases and identities, Fialek-Birles gained Boon's trust by claiming to renovate his yacht, then convinced him to transfer €2.2 million for yacht management and €4.5 million for a fake Irish Central Bank investment scheme before disappearing and transferring funds to offshore accounts in Panama and South Korea. Fialek-Birles, who was arrested in Panama in February 2024, faces trial in
myfoxzone.com
An elderly San Angelo resident lost nearly $900,000 in gold after being targeted by a sophisticated computer scam in which suspects impersonated government officials and instructed him to purchase gold bars. The arrest of suspect Muthukrishnan Palraj in August led authorities to link him to a multi-county fraud scheme totaling over $51 million in losses across Texas, with state and federal prosecutions now underway and potential deportation following any prison sentence.
justice.gov
A federal jury in Puerto Rico convicted Oluwasegun Baiyewu and four co-conspirators of money laundering involving proceeds from romance scams, pandemic relief fraud, unemployment insurance fraud, and business email compromise schemes that primarily targeted elderly and vulnerable Americans. The defendants laundered stolen funds through hundreds of transactions in 2020-2021, including purchasing used cars shipped overseas to Nigeria, with the conspiracy affecting victims across multiple states and Puerto Rico.
noozhawk.com
Jonathan Tudor, a 64-year-old West Hollywood man, was arrested in July and is facing 78 criminal charges including elder theft, securities fraud, grand theft, money laundering, and forgery after defrauding 38 victims out of approximately $500,000. Tudor posed as a BMW luxury car executive and investment advisor, promising high-end vehicles and doubled investment returns that never materialized; detectives recovered over $250,000 in luxury goods from his home and found no evidence the vehicles existed. The scam victimized people across California, New York, and Washington dating back to 2023, with Tudor allegedly using funds from new victims to pay smaller returns to earlier victims in
mcafee.com
McAfee Labs research from 2025 reveals a dramatic surge in scams across multiple categories, with job-related scams exploding over 1,000% from May through July, affecting nearly 1 in 3 Americans via text message. Shopping scams increased 250% during Amazon Prime Day, while personal finance scams surged 150% with email scams doubling between June and July, exploiting keywords like "loan" and "credit card." Technology scams grew 40% in text messages and 160% in emails, with scammers weaponizing consumer vulnerability by impersonating trusted brands (Amazon, Apple, Target, Nvidia) and exploiting economic anxiety,
forbes.com
Imposter scams cost Americans $2.95 billion annually and rank as the second most costly fraud type, with scammers commonly posing as government agencies or law enforcement to demand immediate payment or personal information. Russell Tafron Weatherspoon was convicted of operating a multistate scam (March 2022–April 2024) where he and accomplices spoofed law enforcement phone numbers to tell victims that arrest warrants had been issued, demanding bond payments; similarly, Anthony Sanders was indicted in January 2025 for a jury duty scam in which he posed as a Sarasota sheriff and extorted over $12,000 in Bitcoin from a victim by threatening
decripto.org
Decripto.org reports that online scams and crypto-fraud schemes—including fake trading, Ponzi schemes, romance scams, and recovery scams—are causing severe psychological and financial devastation to thousands of victims, many of whom are driven to despair in cases that remain unreported. Traditional criminal organizations are increasingly shifting from drug and arms trafficking to digital fraud due to its higher profitability and lower detection risk, enabled by low-cost infrastructure and AI technologies. The organization calls for immediate coordinated action from political leadership, law enforcement, and financial regulatory authorities to implement prevention strategies, digital education, specialized investigation units, and comprehensive victim support rather than allowing this crisis to continue unchecked.
time.com
In February 2024, cybercriminals attempted to scam Tejasvi Manoj's 85-year-old grandfather through a fake email impersonating a relative requesting $2,000, but the scam was prevented when the family verified the request directly. Inspired by this near-miss and discovering that seniors lost nearly $5 billion to fraud in 2024 (a 32% increase from the prior year), the then-16-year-old Tejasvi developed Shield Seniors, a website educating adults over 60 about online scams, analyzing suspicious communications, and providing reporting resources. Her efforts earned her TIME's Kid of the Year 2025
crimefightersng.com
Daniel Chima Inweregbu, a 40-year-old Nigerian national, pleaded guilty on August 21, 2025, to operating a romance scam that defrauded American victims of over $405,000 between July 2017 and December 2018. Inweregbu and his co-conspirators created fake dating profiles under the alias "Larry Pham" to build romantic relationships with women, then exploited their trust to extract money, which they subsequently laundered through multiple transactions. He faces up to 20 years in prison on the fraud charge and an additional 20 years on money laundering charges, with sentencing scheduled for December 4,
indianexpress.com
A 78-year-old man in Noida lost Rs 3.14 crore in a "digital arrest" scam where criminals impersonating TRAI, police, CBI, and Supreme Court officials trapped him in fake video calls for 15 days, threatening him with money-laundering charges and forcing him to transfer funds to a fake "Secret Supervision Account." Cybercrimes against seniors have surged 86 percent between 2020 and 2022, with common scams including digital arrest, investment fraud, deepfakes, and government impersonation—schemes that exploit seniors' trust and vulnerability to urgency-based tactics through means they struggle to recognize
northernvirginiamag.com
Fairfax County Police Department's Financial Crimes Unit warns that romance scams are increasing, with scammers building trust online before exploiting victims by requesting money or sensitive information. Common red flags include scammers avoiding in-person or video meetings, moving conversations to private messaging quickly, professing love without meeting, and creating urgent problems (medical, legal, financial) to solicit money. The department recommends verifying identities through reverse-image searches, keeping initial contact public, refusing all money requests, insisting on video calls, and consulting trusted friends before sending funds or information.
Romance Scams Investment Fraud Scam Awareness Financial Crime Cryptocurrency Wire Transfer Gift Cards
krtv.com
"Gas station gold" scams are increasing in Montana, where con artists approach customers in parking lots and gas stations claiming financial hardship while selling fake jewelry marked as "18K" gold that is actually brass or copper. The scammers, who frequently travel between states and increasingly target elderly people, use deceptive pricing and counterfeit markings to deceive unsuspecting buyers. Experts advise consumers to be skeptical of deals offering gold significantly below market value and to have purchases verified by legitimate jewelers before completing transactions.
theberkshireedge.com
Adams Community Bank announced a partnership with Carefull, a financial safety platform, to offer free fraud and scam protection to its account holders, making ACB the first bank in Western Massachusetts to provide this service. The Carefull platform monitors accounts for unusual activity, detects romance scams and other financial exploitation, analyzes suspicious communications, and provides secure storage for important documents and records with $1 million identity theft insurance. This initiative reflects ACB's commitment to protecting seniors and their families as elder fraud cases continue to rise.
pulse.com.gh
This educational article outlines eight categories of federal crimes that attract FBI investigation, ranging from terrorism and espionage to cybercrime, public corruption, civil rights violations, and organized crime. The piece provides examples of each category, such as the 2013 Boston Marathon bombers' online radicalization, the 2021 Colonial Pipeline ransomware attack, and the Equifax data breach affecting 147 million Americans. The article is designed to inform readers about activities—both intentional and unintentional—that could trigger FBI scrutiny beyond commonly known offenses like terrorism or organized crime.
abc.net.au
A study by the International Justice Mission documented 493 global cases of child sextortion linked to South-East Asian scam compounds along the Thai-Myanmar border and in Cambodia, where trafficked workers are forced to blackmail victims using intimate images or AI-generated content. The research cross-referenced US cyber tip line data from 2022-2024 with known scamming hub locations, finding that criminal networks are expanding beyond romance and cryptocurrency fraud to include sextortion tactics, with minors increasingly becoming victims despite not being deliberately targeted. Survivors reported that scammers pose as attractive individuals online, capture screenshots during video calls, and use them for extortion, while some perpetrators pose as telehealth
anz.com.au
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ANZ Bank has successfully prevented thousands of fraudulent payments through its Confirmation of Payee (CoP) feature, which alerts customers when payment recipient details don't match bank records; since launch, 143,303 payments were abandoned by customers, with 10,040 going to accounts flagged on the Australian Financial Crimes Exchange. The bank emphasizes that combating scams requires collaboration between financial institutions, customers, and authorities, alongside technological innovations like the Digital Padlock feature and partnerships with fraud intelligence networks. Australia's coordinated approach has contributed to a 25.9% decrease in reported scam losses in 2024 compared to 2023, demonstrating that awareness and prevention strategies are
ktlo.com
Baxter County, Arkansas is experiencing a rise in scams targeting residents, prompting local law enforcement to host a public call-in program with Sheriff John Montgomery to educate citizens on fraud prevention. The initiative follows recent arrests of three men accused of acting as "money mules" for overseas scam operations; common schemes affecting residents include government impersonation, tech support fraud, fake sweepstakes, romance scams, and home repair fraud using phishing emails, robocalls, and spoofed numbers.
brooklynda.org
Two New Jersey brothers, Abhishek Barvalia (31) and Tushar Barvalia (32), were indicted in Brooklyn for allegedly defrauding four seniors aged 76 to 90 of approximately $400,000 between June 2023 and January 2024. The defendants posed as FBI agents, Microsoft representatives, and government officials, convincing victims their bank accounts were compromised and directing them to withdraw funds and transfer money to accounts the defendants controlled, while instructing victims to maintain secrecy. The defendants were charged with second-degree grand larceny, first-degree scheme to defraud, and fourth-degree conspiracy.
solomonstarnews.com
A growing number of Solomon Islanders have fallen victim to online investment scams on platforms including Telegram and Video Earned, which promise quick returns through watching videos or recruiting referrals but trap users with withdrawal fees and frozen accounts. Victims reported earning $1,000-$2,000 USD in their accounts but were unable to withdraw funds without paying additional fees ($100+ USD), with some platforms disappearing entirely or blocking accounts once larger investments were made. Financial experts warn these schemes operate as unsustainable Ponzi-style operations that collapse when recruitment slows, and authorities are urging the public to verify credentials before investing.
Investment Fraud Robocalls / Phone Scams Scam Awareness Cash Money Order / Western Union
thestar.com.my
A Pew Research Center survey of over 9,000 U.S. adults found that approximately 73% experienced at least one online scam or attack, with credit card fraud, shopping scams, and ransomware being most common; notably, adults aged 18-59 were 34% more likely than those 60+ to report losing money to fraud. Cybersecurity experts warn of emerging threats including unsolicited calendar invites containing phishing links or malware, and multi-factor authentication app attacks designed to wear down users into revealing personal information. Protection measures include adjusting calendar settings to prevent automatic invite updates, verifying suspicious invitations through direct contact with trusted sources, and ign
pbs.org
Sophisticated criminal networks are using stolen identities to create "ghost students" and flood U.S. community college application systems to siphon millions in financial aid. The U.S. Department of Education has identified $150 million dispersed to ineligible students, including $30 million to deceased individuals, with victims including both colleges and people whose identities were stolen to fraudulently obtain student loans. These overseas fraud rings operating from countries like Pakistan, Bangladesh, and Vietnam target community colleges due to their open-access policies and also exploit .edu email addresses for additional fraud schemes involving discounts on software and services.
hayspost.com
Scammers posing as banks, government agencies, and businesses are increasingly targeting retirees by creating fake crises around account fraud, identity theft, or computer security to pressure victims into transferring money. According to a new FTC report, reported losses from business and government impostor scams among adults 60+ have surged dramatically, with losses exceeding $100,000 increasing nearly sevenfold between 2020 and 2024, with many victims losing tens or hundreds of thousands of dollars. The FTC advises never transferring money in response to unsolicited calls or messages, verifying requests through independently confirmed contact information, and remembering that legitimate government agencies never demand immediate money transfers
ainvest.com
This article covers multiple bank fraud cases prosecuted in 2025. Former Cathay Bank manager Weixin "Tony" Chen was indicted on charges of siphoning funds from customers' home equity lines and deposit accounts across Southern California branches, facing up to 30 years per count. The article also highlights the case of Jiaci Liu, a Chinese national sentenced to 24 months in federal prison for a sophisticated elder fraud scheme where he impersonated technical support and law enforcement to extract over $202,000 from elderly victims in Southern California and Arizona, including one victim who withdrew $28,000 after believing his computer was compromised.
inkl.com
Regulatory authorities are increasingly scrutinizing senior investment clubs due to a surge in fraudulent schemes, including pump-and-dump stock scams that specifically target vulnerable older adults through social media and messaging platforms. These clubs exploit seniors' trust in established networks (friends, church members, veterans) and lack of external oversight, leaving participants exposed to significant financial losses. Regulators emphasize that while investment clubs aren't inherently illegal, seniors should demand transparency, verify credentials, and seek outside perspectives before joining to protect their retirement savings.
securityboulevard.com
U.S. Rep. David Schweikert proposed the Scam Farms Marque and Reprisal Authorization Act in 2025, which would authorize the president to issue letters of marque to private "cyber privateers" to combat foreign cybercriminal organizations running romance scams, pig-butchering schemes, and ransomware attacks. The proposal targets Southeast Asian cyberscam farms (particularly in Laos, Myanmar, and Cambodia) that generate an estimated $40 billion annually and hold hundreds of thousands of enslaved workers, following reports that U.S. citizens lost $16 billion to scams in 2024, with seniors over 60 losing nearly
centralnews.co.za
DIRCO spokesperson Clayson Monyela warned South Africans against fake foreign job offers promoted on social media platforms like TikTok and Instagram, which are fronts for human trafficking networks that exploit victims through forced labor and illegal schemes. The warning follows multiple documented cases where South Africans were lured abroad with promises of jobs in Myanmar, Thailand, and Cambodia, only to be trapped in cyber-scam operations or forced labor with confiscated passports; DIRCO has successfully repatriated numerous victims but others remain missing. The scam particularly targets vulnerable young people and job seekers amid South Africa's high unemployment rates, and authorities recommend verifying offers through official channels such as embassies or
thestkittsnevisobserver.com
Nigeria's Economic and Financial Crimes Commission deported 102 foreign nationals, including 50 Chinese citizens, following a major sting operation that arrested 192 foreigners suspected of running a large-scale cybercrime syndicate involving internet fraud and "cyberterrorism." The crackdown, part of Operation "Eagle Flush," targeted organized groups running romance scams, sextortion schemes, and fake cryptocurrency investment frauds, representing the second major raid on foreign cybercriminals in less than a year.
myjoyonline.com
Nigeria's Economic and Financial Crimes Commission deported 102 foreign nationals (60 Chinese and 39 Filipinos) convicted of cyber-terrorism and internet fraud, with additional deportations of 51 more foreign nationals ongoing, following a December operation that arrested 792 suspected cybercriminals in Lagos. These foreign cybercrime syndicates, often working with Nigerian accomplices, targeted victims primarily in the United States, Canada, Mexico, and Europe through romance scams and fraudulent cryptocurrency investment schemes that deceived victims into transferring money or revealing sensitive financial information.
graphic.com.gh
Nigeria's Economic and Financial Crimes Commission deported 102 foreign nationals (60 Chinese and 39 Filipinos) convicted of cyber-terrorism and internet fraud, with additional deportations of 51 more individuals ongoing. The deportations are part of a broader crackdown on online scam operations based in Nigeria that use romance schemes and fake cryptocurrency investment offers to defraud victims—primarily Americans, Canadians, Mexicans, and Europeans—out of their savings and business capital. The scams involve foreign criminal syndicates recruiting Nigerian accomplices to conduct phishing attacks and convince victims to transfer money or reveal sensitive account information.
cryptopolitan.com
Nigeria's Economic and Financial Crimes Commission (EFCC) deported 102 foreign nationals (60 Chinese and 39 Filipino) convicted of cyber-terrorism and internet fraud, following their June conviction by federal high court and arrest in December 2024 after dismantling their operational base in Lagos. The deportations are part of intensified crackdowns on online scams, including fake cryptocurrency investment schemes like Crypto Bridge Exchange, which defrauded Nigerian victims of their entire savings and reportedly led to suicides. The EFCC, working with foreign criminal networks that recruit young Nigerian accomplices, continues identifying and shutting down scam hideouts while targeting victims primarily in the United States, Canada
adomonline.com
Nigeria's Economic and Financial Crimes Commission deported 102 foreign nationals (60 Chinese, 39 Filipino, and 3 others) convicted of cyber-terrorism and internet fraud, with additional deportations of 51 more individuals occurring since mid-August. The deportations are part of a broader crackdown on online scam operations based in Nigeria that lure victims—primarily Americans, Canadians, Mexicans, and Europeans—through romance schemes and fake cryptocurrency investment opportunities. These sophisticated fraud operations, often involving foreign criminal syndicates exploiting Nigeria's weak cybersecurity infrastructure in collaboration with local accomplices, have left victims unable to recover savings, business capital, and borrowed funds.
pulse.com.gh
Nigeria deported over 100 foreign cybercriminals (primarily Chinese and Filipino nationals) convicted of orchestrating romance and cryptocurrency investment scams that defrauded victims worldwide out of millions. The deportations, announced by Nigeria's Economic and Financial Crimes Commission, were part of a larger crackdown that arrested 792 suspected cybercriminals in Lagos in December, signaling the country's commitment to combating international fraud syndicates that exploit its infrastructure to target victims in North America and Europe.
sacobserver.com
A Chase Bank and AARP awareness event in Sacramento educated approximately 50 seniors about fraud prevention after California consumers lost over $1.7 billion to fraud in 2024, with people aged 60+ suffering hundreds of millions in losses. Experts highlighted common scams targeting older adults through fear (utility shutoffs), excitement (lottery wins), and romance schemes, emphasizing that identity theft is the #1 form of fraud occurring every two seconds in the U.S. The presentation recommended securing personal documents in safes, updating passwords regularly, avoiding unsolicited calls and links, and reporting suspicious activity to prevent emotional and financial devastation.
bbc.com
A man in his 60s was arrested in Seoul for littering but was found to be a fugitive wanted for a cryptocurrency scam that defrauded 1,300 people of 17.7 billion won ($13 million) over five years. Police became suspicious when he resisted the minor citation, refused to provide identification, and attempted to bribe officers, prompting them to investigate and uncover his outstanding arrest warrant for 10 fraud-related charges. The case highlights rising global cryptocurrency-related crimes, with platforms losing $2.2 billion to theft in 2024 alone.
stthomassource.com
Banking and financial service workers in the Virgin Islands attended an Elder Justice Summit workshop to address the rising financial abuse of elderly residents, particularly since the COVID-19 pandemic when isolated seniors became more vulnerable to exploitation by family members, caregivers, and strangers. The workshop featured presentations on common fraud schemes and bank protocols for assisting victims, with participants emphasizing that combating elder financial exploitation requires collaborative efforts across law enforcement, financial institutions, and government agencies. A third workshop is planned for September to include seniors and caregivers in the ongoing educational efforts.
aljazeera.com
Nigeria's Economic and Financial Crimes Commission deported 102 foreign nationals (60 Chinese and 39 Filipinos) convicted of cyber-terrorism and internet fraud, with additional deportations of 39 Filipinos, 10 Chinese, and 2 Kazakhs since mid-August. The deportees were part of a larger operation targeting romance scam networks that lured victims—primarily Americans, Canadians, Mexicans, and Europeans—into fake cryptocurrency investment schemes, with 792 suspected cybercriminals arrested in Lagos in December 2024. The EFCC noted that foreign cybercrime syndicates exploit Nigeria's weak cybersecurity infrastructure and recruit local accomplices to conduct
yahoo.com
Nigeria's Economic and Financial Crimes Commission deported 102 foreign nationals (60 Chinese, 39 Filipinos, and others) convicted of cyber-terrorism and internet fraud, including romance scams that lured victims into fake cryptocurrency investments. The deportations followed a December operation in Lagos that arrested 792 suspected cybercriminals, with additional deportations ongoing as part of Nigeria's crackdown on organized online scam operations targeting primarily Americans, Canadians, Mexicans, and Europeans. These sophisticated schemes typically involve foreign gangs recruiting Nigerian accomplices to conduct phishing attacks and persuade victims to transfer money or reveal sensitive account information.
bbc.com
Nigeria's anti-graft agency deported 50 Chinese nationals and dozens of other foreigners as part of "Operation Eagle Flush," a crackdown on a major foreign-led cybercrime syndicate that resulted in 192 total arrests during a Lagos sting operation; the 102 deported individuals were convicted of cyberterrorism and internet fraud. The operation targeted criminals involved in romance scams, sextortion schemes, and cryptocurrency investment fraud, with 148 of those arrested being Chinese nationals who collaborated with local Nigerian recruits. This marks the second major enforcement action in a year against foreign cybercriminals operating in Nigeria, a country plagued by internet fraud and identified as a
theannapurnaexpress.com
Nigeria's Economic and Financial Crimes Commission deported 102 foreign nationals (60 Chinese, 39 Filipinos) involved in internet fraud and cybercrime, including romance scams and fake cryptocurrency investment schemes. The enforcement action follows a December raid that arrested 792 suspected cybercriminals and is part of an ongoing crackdown, as criminal gangs continue targeting North Americans, Europeans, and Mexicans through exploiting weak cybersecurity systems.
commonsenseinstituteus.org
Financial fraud in Oregon resulted in an estimated $201 million in reported losses and $1.2 billion in unreported losses in 2025, with the FBI and FTC reporting significant increases in fraud cases nationwide. The state's economy faces a projected $3.9 billion reduction in GDP, $2.6 billion reduction in personal income, and approximately 15,000 job losses due to all financial fraud (reported and unreported). Oregon ranks 26th-28th among states for cyber-enabled crime losses and elder fraud complaints, with fraud cases up 3,336 since 2022 and total losses up 285% since 2020.
Romance Scams Crypto Investment Scams Investment Fraud Inheritance Scams Lottery/Prize Scams Cryptocurrency Wire Transfer Gift Cards Payment App Check/Cashier's Check
oodaloop.com
Nigeria's Economic and Financial Crimes Commission deported 102 foreign nationals (60 Chinese and 39 Filipinos) convicted of cyber-terrorism and internet fraud, with additional deportations of 51 more foreigners occurring since mid-August. These individuals were part of a larger operation that victimized people through romance scams and fake cryptocurrency investment schemes designed to extract cash from targets. The deportations followed a December raid on Lagos that arrested 792 suspected cybercriminals, including 192 foreign nationals, as Nigeria intensified its crackdown on organized online fraud operations.
republicanherald.com
David P. Shallcross, director of the Pennsylvania Attorney General's Senior Protection Unit, conducted a fraud awareness seminar for approximately 25 seniors in Friedensburg, highlighting common scams targeting older adults including the "Sweetheart Swindle" (where scammers pose as romantic interests to extract money), lottery/investment schemes, and cryptocurrency fraud. Shallcross provided protective strategies such as verifying information sources, recognizing red flags like unsolicited requests for gift card payments, and using verification tools like the SEC's EDGAR database and FINRA.org; he noted that the Pennsylvania Attorney General's office returned $1.2 million to scam victims in
pasadenanow.com
California seniors lose an average of $46,000 daily to scammers, ranking the state third-worst nationally for elder fraud losses. In 2024, investment scams caused $1.8 billion in losses to older adults, while phishing and spoofing attacks surged 700% year-over-year, with 72% of cybercrimes enabled by exposed personal data. In response to rising elder abuse cases in LA County, the La Pintoresca Branch Library in Pasadena is hosting a free bilingual "Financial Exploitation Prevention Workshop" to educate seniors on recognizing and preventing fraud.
hollywoodreporter.com
Actor John Amos' daughter Shannon sued her brother Kelly Christopher Amos, former caretaker Belinda Foster, and associate Eugene Brummett for elder abuse, fraud, and wrongful death, alleging that starting around 2019, K.C. Amos systematically isolated their father, manipulated him into signing new wills and trusts that gave K.C. near-complete control of the estate, and neglected his medical needs—resulting in hospitalizations including treatment for a maggot infection. The petition claims John Amos, who died in 2024 of natural causes, was kept in unsafe conditions with improperly administered medications, and seeks to freeze the
wweek.com
83-year-old real estate developer Walter Bowen sued his former senior vice president Barclay Grayson for elder abuse, alleging Grayson used Bowen's signature stamp to sign personal guarantees and loan documents without authorization, and misappropriated $250,000 of a $1.1 million improvement allowance intended for condo renovations. Bowen, who hired Grayson in 2003 despite Grayson's prior prison sentence for mail fraud, fired him in July 2024 and filed suit for breach of contract, breach of fiduciary duty, and financial abuse of a vulnerable person; the complaint also implicated the
foxnews.com
This educational piece explains how criminals target retirees' retirement accounts and personal data, noting that elder fraud caused over $4.9 billion in losses in 2024, with 72% of cases involving personal data found online. The article advises retirees to remove their information from data broker websites and databases—either manually or through automated removal services—to reduce their vulnerability to identity theft, phishing attacks, and social engineering scams. Taking these protective steps helps secure hard-earned retirement savings by limiting the personal information scammers can use to craft convincing fraud attempts.
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