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ainvest.com
· 2025-12-08
The U.S. Department of Justice seized $225.3 million in cryptocurrency linked to a romance scam syndicate that defrauded over 430 victims, marking the largest cryptocurrency seizure in U.S. Secret Service history. The scam involved criminals convincing victims to invest in fraudulent crypto platforms and then laundering the funds through the OKX exchange, with operations coordinated from the Philippines. This enforcement action highlights the growing trend of crypto-based romance and investment scams and is expected to prompt tighter regulatory compliance measures and anti-money laundering standards at centralized cryptocurrency exchanges globally.
ainvest.com
· 2025-12-08
The US Secret Service has seized nearly $400 million in digital assets over the past decade by tracking cryptocurrency fraud schemes, with crypto scams now representing the top driver of US internet crime losses at $9.3 billion stolen in 2024. Common schemes include fake investment platforms that show initial profits before disappearing with deposits, romance-investment scams, and sextortion cases, with the agency using blockchain analysis and open-source tools to identify perpetrators across multiple jurisdictions. The Secret Service has trained law enforcement in over 60 countries and coordinated with crypto exchanges like Tether to freeze wallets and recover stolen assets, including a notable $225 million recovery linked to romance scams.
english.radio.cz
· 2025-12-08
Czech police reported a 5% decline in cybercrime cases in 2024, with 18,500 incidents investigated—the first decrease since the pandemic began. Online fraud remained the most prevalent cybercrime type, encompassing fake bank alerts, investment scams, and romance fraud, though authorities attributed the overall decline partly to increased awareness campaigns by police, banks, and state institutions.
onesafe.io
· 2025-12-08
In 2024, Americans lost $9.3 billion to crypto-related scams, prompting the US Secret Service to seize nearly $400 million in cryptocurrency through their Global Investigative Operations Center using blockchain analysis techniques. The article highlights the rising threat of crypto fraud—including romance scams and fake investment platforms—and recommends that companies implement advanced fraud detection, strengthened identity verification, and real-time transaction monitoring to protect digital assets. The Secret Service has also trained officials from over 60 countries on combating online financial crimes as part of a broader international effort to combat crypto fraud.
theguardian.com
· 2025-12-08
Scammers are exploiting high demand for summer concert tickets, particularly Oasis gigs, by posing as sellers on social media platforms like Facebook and X. Over 1,000 Lloyds Bank customers lost an average of £436 each to ticket fraud in 2024, with the UK government recording £1.6 million in losses and 3,700 reports to Action Fraud, with nearly half involving social media offers. To protect themselves, buyers should verify sellers directly, use official venue websites and credit cards for purchases, check email addresses carefully, and only buy from Society of Ticket Agents and Retailers (Star) members.
foxnews.com
· 2025-12-08
Social Security Administration phishing scams use urgent, alarming messages impersonating government agencies to trick recipients into clicking malicious links or downloading files that steal personal data or install malware. These scams leverage fear and false authority by falsely claiming SSNs are suspended due to serious crimes like money laundering, and often include multiple geographic references and official-sounding details to overwhelm victims into panic-driven action before they can verify the threat.
golocalprov.com
· 2025-12-08
A Boston truck repair company, Middlesex Truck and Coach, discovered that Chase Bank had fraudulently opened an account under its name without identification verification, which was then used by foreign scammers to collect proceeds from victims of "pig-butchering" schemes—elaborate investment scams that defraud victims of hundreds of thousands of dollars. The account was part of a sophisticated international money laundering operation linked to Asian crime syndicates that funnel stolen U.S. funds through fake bank accounts and cryptocurrency, with pig-butchering scams alone generating an estimated $44 billion annually across Southeast Asia and affecting millions of victims worldwide.
thegazette.com
· 2025-12-08
A reshipping scam targeting job seekers has resurged, where applicants believe they are hired for remote "warehouse distribution coordinator" positions with attractive salaries ($3,000+) and minimal hours, but are instead asked to share personal information (Social Security cards, driver's licenses) and unknowingly repackage and ship items purchased with stolen credit cards and banking information. The scam provides no actual paychecks while victims become complicit in moving illegally obtained goods, with employment scams ranking second in BBB Scam Tracker reports for 2024. Red flags include requests for personal/financial information, email-only interviews, unrealistic pay-to-work ratios, and the
shawlocal.com
· 2025-12-08
State Sen. Meg Loughran Cappel and other Illinois elected officials hosted a fraud prevention seminar for seniors to educate them about common scams and financial exploitation tactics. The program covered protection strategies against scams, fraud, identity theft, and phone spoofing, with a presentation from the Illinois Attorney General's Office included.
gulfnews.com
· 2025-12-08
Dubai Police warns the public against transferring unexpected bank deposits from unknown sources, as criminals use this method to launder money from illegal activities like fraud, theft, and drug trafficking. Transferring such funds to another account, even if the caller claims it was sent by mistake or provides emotional justification, can make the recipient legally liable as an accomplice to the crime. The advised response is to leave the money untouched, report it immediately to your bank and police through Dubai Police's e-Crime platform, and never rely on the caller's explanation regardless of the stated reason.
straitstimes.com
· 2025-12-08
The U.S. Secret Service's Global Investigative Operations Center (GIOC) has seized nearly $400 million in digital assets over the past decade by investigating cryptocurrency investment scams and related digital crimes. The team uses open-source tools and blockchain analysis to trace fraudulent activities across borders, such as fake investment platforms that lure victims with small initial profits before disappearing with their money, as well as extortion schemes involving cryptocurrency payments. The Secret Service has expanded its efforts globally, conducting training workshops in over 60 countries to help local law enforcement and prosecutors identify and combat digital financial crimes.
vibesofindia.com
· 2025-12-08
A CBI investigation into bribery at a Raipur medical institute uncovered one of India's largest medical college scams spanning multiple states, involving 35 individuals including senior officials, educationists, and a self-styled godman who allegedly paid Rs 3-5 crore to secure fraudulent National Medical Commission approvals for substandard institutions. The scheme employed fake inspections, ghost faculty, forged credentials, internal data leaks via WhatsApp, and hawala transfers to obtain regulatory recognition for unqualified medical colleges across cities including Indore, Gurgaon, Visakhapatnam, and Warangal. Only one person—director
grantspasstribune.com
· 2025-12-08
Canadian national Gareth West was arrested and faces federal charges for allegedly masterminding a $30 million telemarketing scam targeting seniors across 46 states through fake investment offers, sweepstakes claims, and impersonation of attorneys and federal agents. The sophisticated operation exploited vulnerable elderly individuals living alone or with cognitive decline, leaving many victims destitute and losing their homes and retirement savings. West laundered millions through offshore accounts and cryptocurrency, with additional accomplices under investigation and authorities urging families to monitor elderly relatives and report suspicious communications to the FTC or law enforcement.
thegeorgiavirtue.com
· 2025-12-08
Ehis Lawrence Akhimie, a Nigerian national, pleaded guilty to operating a transnational inheritance fraud scheme that defrauded over 400 elderly and vulnerable U.S. consumers of more than $6 million. The scheme used personalized letters falsely claiming to be from Spanish bank representatives offering unclaimed inheritances, then requested upfront fees for delivery and taxes before victims could receive funds that never materialized. Akhimie faces up to 20 years imprisonment, and seven co-conspirators from Nigeria, Spain, and the United Kingdom have already been convicted and sentenced in connection with this international fraud ring.
ainvest.com
· 2025-12-08
Michael Zidell filed lawsuits against East West Bank and Cathay Bank in California federal court, alleging the institutions failed to prevent fraudulent wire transfers totaling approximately $16.7 million that he sent to scammers' accounts after being deceived by a romance scam involving a fake NFT investment scheme. Zidell, who met a woman claiming to be "Carolyn Parker" on Facebook in early 2023, was instructed to make multiple transfers across the banks before the fraudulent trading platform disappeared in April 2023, and he seeks compensatory damages for the banks' alleged failure to monitor suspicious transaction patterns.
dallasexpress.com
· 2025-12-08
Darlington Akporugo, 47, and his wife Jasmin Sood, 37, were sentenced to 188 and 121 months in federal prison, respectively, for orchestrating a romance scam that defrauded elderly Americans—primarily widows—of more than $3 million. Akporugo posed as a romantic interest online using fake identities to convince victims to send money and purchase luxury items, including a vehicle and mansion that the couple used themselves; authorities identified over 25 victims across multiple states. Both defendants were ordered to repay the full stolen amount and serve three years of supervised release upon their release from prison.
ainvest.com
· 2025-12-08
Michael Zidell lost $20 million in a "pig butchering" romance scam that began in January 2023 when a fraudster posing as a businesswoman named Carolyn Parker on Facebook convinced him to invest in a fake NFT website over months of WeChat communications. Zidell has filed lawsuits against East West Bank, Cathay Bank, and Citibank, alleging the financial institutions failed to detect and prevent suspicious transactions totaling $7 million, $9.7 million, and $4 million respectively, despite the transfers being unusually large and violating anti-money laundering compliance requirements. The lawsuits seek compensatory damages and suggest potential
vocal.media
· 2025-12-08
This educational guide advises overseas daters on avoiding romance scams in 2025 by emphasizing the importance of using reputable dating platforms with strong security features, verifying profiles through video calls and reverse image searches, understanding cultural differences, and recognizing red flags such as requests for money, avoidance of video calls, and inconsistent personal details. The article notes that scammers increasingly exploit international daters through sophisticated AI-generated profiles, deepfakes, catfishing, and emotional manipulation, taking advantage of language barriers and physical distance.
tradingview.com
· 2025-12-08
A malicious GitHub project called "solana-pumpfun-bot" deceived users into downloading what appeared to be a legitimate Solana trading bot, but actually contained hidden malicious code that scanned victims' systems and stole their private cryptocurrency keys. The attacker used fake GitHub accounts to artificially boost the project's credibility through stars and forks, making it appear trustworthy despite being uploaded only three weeks prior. Security researchers advise users to avoid running cryptocurrency tools that access wallets on their main systems and to test such projects only in isolated, sandboxed environments.
ainvest.com
· 2025-12-08
The U.S. Secret Service has seized $225 million in cryptocurrency in a recent operation targeting romance and investment scams, bringing the total recovered over the past decade to $400 million. Scammers typically lure victims through fake cryptocurrency investment websites that show false profits to build trust before disappearing with deposited funds, sometimes targeting vulnerable individuals like teenagers for sextortion schemes. The Secret Service's Global Investigative Operations Center works with over 60 countries to trace fraudulent assets and dismantle international scam networks, demonstrating the effectiveness of coordinated law enforcement in combating digital fraud.
ainvest.com
· 2025-12-08
The U.S. Department of Justice, with assistance from Tether, recovered $40,300 in cryptocurrency from a scam impersonating the Trump inauguration committee, in which victims were deceived by spoofed email addresses with subtle character differences into sending crypto donations they believed were legitimate political contributions. The scammers used phishing messages sent on December 24, 2024, to trick victims into depositing funds into fraudulent wallets, which were then laundered through multiple addresses within hours. Law enforcement officials warn that such impersonation scams cost Americans billions annually and recommend victims verify email addresses, URLs, and official channels before sending any cryptocurrency or assets.
foxnews.com
· 2025-12-08
Cybercriminals have created over 120,000 fake Amazon websites ahead of Amazon Prime Day (July 8-11) designed to steal shoppers' information through phishing traps, malware, and fraudulent listings. While Amazon removed 55,000 phishing sites and 12,000 fraudulent phone numbers in 2024 and partners with law enforcement, consumers should protect themselves by shopping only through official Amazon channels, verifying URLs, avoiding gift card payment requests, and enabling two-factor authentication.
catholicnewsagency.com
· 2025-12-08
A new anti-fraud initiative called "Protecting the Faithful," led by cybersecurity expert Theresa Payton, has been launched to combat rising scams targeting Catholic parishes and followers of Catholic public figures. Scammers are impersonating priests via email soliciting donations and impersonating celebrities like actor Jonathan Roumie on social media, offering fake promises in exchange for money. The campaign distributes educational materials highlighting red flags such as requests to move conversations to encrypted apps, claims of personal backup accounts, and suspicious links, while urging victims to report incidents to local police and the FBI's IC3.gov without shame.
local3news.com
· 2025-12-08
Scammers are exploiting pet owners' desperation by posing as finders of lost pets posted on social media, demanding payment via electronic transfers like Cash App or Venmo before returning animals without proof of possession. The BBB advises pet owners to omit specific identifying details from lost pet posts, avoid electronic payments to strangers, and instead consider preventative measures like microchipping to reduce vulnerability to fraud.
cw34.com
· 2025-12-08
Ehis Lawrence Akhimie, a 41-year-old Nigerian man, pleaded guilty to orchestrating an inheritance fraud scheme that defrauded over 400 elderly and vulnerable Americans of more than $6 million by sending false letters claiming they were entitled to multimillion-dollar inheritances and requesting upfront fees for taxes and delivery charges. Akhimie was part of an international criminal network that recruited former victims to funnel payments, and his plea follows seven prior convictions of co-conspirators extradited from multiple countries, with sentences ranging from 82 to 128 months. He now faces a maximum sentence of 20 years in prison.
m.economictimes.com
· 2025-12-08
Gareth West, a Canadian man accused of orchestrating one of North America's largest cross-border "grandparent scams," was arrested by the RCMP in Quebec on July 4. Operating call centers in the Montreal area, West led a network that stole at least $30 million from elderly victims across 46 US states by posing as grandchildren in distress and pressuring seniors to send bail money, while using fraudulent proceeds to fund a lavish lifestyle. He faces charges of wire fraud and money laundering conspiracy and could receive up to 40 years in federal prison if convicted in the United States.
deccanherald.com
· 2025-12-08
Nehal Modi, the younger brother of fugitive diamantaire Nirav Modi, was arrested by US authorities immediately upon his release from a US prison on Friday after completing a nearly three-year sentence for a cheating case involving the fraudulent acquisition of $2.6 million in diamonds from a Manhattan company. In India, Nehal Modi is wanted by the CBI in connection with the Rs 13,000 crore Punjab National Bank fraud orchestrated by his brother Nirav Modi, and is accused of destroying evidence and laundering proceeds of crime through shell companies and offshore transactions. The CBI will pursue his extradition during a July 17 court hearing in the US.
mychesco.com
· 2025-12-08
Utility-related impostor scams are surging across Pennsylvania, with criminals posing as utility representatives to demand immediate payments via untraceable methods like gift cards or cryptocurrency. The Pennsylvania Public Utility Commission received over 70 calls in a single day about scammers falsely claiming service switches were detected and threatening disconnection, though utilities never demand immediate payment or use non-traditional payment methods. AARP Pennsylvania recommends residents verify suspicious calls by contacting the number on their utility bill and report fraud to the PUC, local law enforcement, or the FTC.
livebitcoinnews.com
· 2025-12-08
Michael Zidell lost $20 million in a pig butchering scam that began in January 2023 when a scammer impersonating businesswoman "Carolyn Parker" contacted him on Facebook and convinced him to invest in a fake NFT website over several months. Zidell has sued East West Bank, Cathay Bank, and Citibank for negligence, alleging the banks failed to detect or flag suspicious wire transfers totaling $20 million across multiple accounts and violated anti-money laundering regulations, with the lawsuits also alleging elder abuse under California law.
timesofindia.indiatimes.com
· 2025-12-08
Two people were arrested in Australia in connection with a "Chinese blessing scam" that defrauded a 77-year-old Sydney woman of AUD $130,000 (USD $85,000) in cash and jewelry; the scam involves perpetrators posing as spiritual healers who convince victims to place valuables in sealed bags under the guise of a blessing ritual, then steal the contents. Strike Force Sentinel's investigation has identified approximately 50 scammers involved in a network responsible for around AUD $3 million (USD $2 million) in theft across 80 reported cases, though police believe the true number is significantly higher due to underreporting. This sc
ainvest.com
· 2025-12-08
A trio of scammers targeted elderly customers at ATM locations for major U.S. banks (Chase, Bank of America, and Citibank) in New York between May and June, stealing a total of $70,000 by posing as helpful bystanders to distract victims while stealing their bank cards. The scheme resulted in at least nine confirmed incidents, with individual victims losing between $3,000 and $24,000, including a 90-year-old woman who lost $20,000 in a single hour on May 14th. Police have advised seniors to avoid engaging with strangers at ATMs and to remain vigilant about card security.
databreaches.net
· 2025-12-08
A Nigerian national pleaded guilty to operating a transnational inheritance fraud scheme that defrauded over 400 vulnerable and elderly U.S. victims of more than $6 million. Ehis Lawrence Akhimie and his conspirators sent personalized letters falsely claiming victims had inherited millions from deceased overseas relatives, then solicited upfront payments for delivery fees and taxes that victims never received. This case represents coordinated international prosecution involving U.S., UK, and Spanish authorities, with Akhimie facing up to 20 years imprisonment and seven co-conspirators previously convicted.
wgrv.com
· 2025-12-08
A Greeneville woman lost nearly $600 in a warrant scam where a caller falsely claimed she had arrest warrants in all 50 states and demanded she purchase gift cards to avoid arrest. The victim purchased two prepaid cards totaling approximately $600 before becoming suspicious and contacting police, who confirmed the scam originated from a North Carolina phone number.
cointelegraph.com
· 2025-12-08
Michael Zidell filed lawsuits against East West Bank and Cathay Bank, claiming they failed to detect and prevent a crypto romance scam that defrauded him of approximately $16.7 million across 31 transfers to accounts at these institutions. Zidell was targeted by a Facebook romance scammer posing as "Carolyn Parker" who convinced him to invest in a fraudulent NFT trading platform that disappeared in April 2023; he is also suing Citibank for $4 million in similar transfers. The lawsuits allege the banks were negligent in monitoring suspicious transactions, aided and abetted securities fraud, and aided elder abuse by failing to
ainvest.com
· 2025-12-08
Michael Zidell lost approximately $20 million in a romance scam (classified as "pig butchering") in which a scammer posing as a woman named Carolyn Parker built trust with him on Facebook and WeChat before directing him to invest in a fake NFT platform called OpenrarityPro.com. Zidell has filed lawsuits against Citibank, East West Bank, and Cathay Bank, alleging the institutions negligently failed to detect red flags such as account discrepancies, suspicious wire transfer volumes, and transfers that exceeded stated transaction limits, thereby materially aiding the scheme. The case seeks to establish bank accountability for facilitating investment fraud and highlights
ainvest.com
· 2025-12-08
Michael Zidell lost over $20 million in a romance scam between early 2023 and April 2023 after being targeted on Facebook by a woman posing as a successful NFT investor who convinced him to transfer funds through a fake trading platform. Zidell has filed lawsuits against three U.S. banks (Citibank, East West Bank, and Cathay Bank), alleging they failed to detect red flags in his 43 transfers totaling $20+ million and negligently enabled the fraud through poor compliance oversight and failure to protect against elder financial exploitation.
news3lv.com
· 2025-12-08
Paul and Maryann Fox of Las Vegas lost $8,000 in a fake arrest warrant scam in which callers impersonating law enforcement claimed Paul had a warrant and demanded immediate payment via Bitcoin. The scammers used spoofed caller ID showing "Clark County" and a real officer's name to appear legitimate, pressuring Paul to transfer money at a cryptocurrency machine while keeping him isolated from his wife. The couple filed a police report but could not recover their funds and are warning others to recognize red flags and think clearly before complying with urgent demands from callers.
koaa.com
· 2025-12-08
The Federal Trade Commission is warning consumers about fraudulent travel deals advertised through fake websites impersonating legitimate hotels and airlines, particularly around holiday periods like the 4th of July. Scammers use these fake sites to collect personal information and financial details, which they use to steal money or make unauthorized purchases; experts note that tracking and recovering funds from these schemes is extremely difficult due to the sites being quickly shut down and the use of advanced technology like AI to create convincing fakes. The FTC recommends researching websites, avoiding unsolicited links, and using secure payment methods rather than wire transfers, gift cards, or cryptocurrency to protect yourself during travel booking.
welivesecurity.com
· 2025-12-08
Employment and recruitment scams cost victims over $264 million in 2024, with "task scams" being a particularly prevalent variant where victims are tricked into paying deposits via cryptocurrency to unlock fake earnings. Task scams use gamification techniques—promising easy money for simple online tasks like clicking buttons—then pressure victims to "level up" their accounts by paying money that disappears permanently. The FBI and FTC report significant growth in these scams, driven by factors including remote work normalization, AI-generated convincing websites, breached personal data, and poor economic conditions making people vulnerable to job opportunities.
kutv.com
· 2025-12-08
Utahns lost nearly $115 million to phone call fraud in 2024, with the FTC reporting that scam calls remain prevalent despite technological countermeasures, costing Americans $1 billion nationally. These operations are sophisticated organizations operating from call centers with trained employees using VoIP technology and spoofed local numbers, making them difficult to block or trace, particularly when based overseas. Experts recommend registering with the National DoNotCall Registry, verifying caller identity through official company numbers, and being cautious about sharing personal information over the phone.
sso.agc.gov.sg
· 2025-12-08
Singapore enacted the Protection from Scams Act 2025 on February 3, 2025, legislation designed to protect individuals from scams by authorizing specified officers to issue restriction orders to banks that temporarily prohibit certain bank transactions and credit facility usage. The Act represents a proactive legal framework to combat fraud by enabling rapid intervention in banking activities when scam activity is suspected.
kaaltv.com
· 2025-12-08
Amazon Prime Day (July 8-11) attracts scammers who use fake order confirmations, price adjustment notices, and gift card offers via email and text to direct shoppers to counterfeit Amazon login pages and steal credentials and payment information. With 200 million Prime members and $14 billion in annual Prime Day sales, thousands of victims fall prey to these schemes yearly. Consumers should protect themselves by never clicking links in unsolicited messages and instead verifying orders directly through the official Amazon app or website, and parents should educate children about these online safety risks.
cnn.com
· 2025-12-08
Two individuals were arrested at Australian airports in connection with "Chinese blessing scams," a fraud scheme that has targeted elderly Asian women worldwide for 25 years. The suspects are accused of defrauding a 77-year-old woman of AUD $130,000 (USD $85,000) and are linked to 80 reported cases involving approximately AUD $3 million (USD $2 million) in losses. In these scams, perpetrators convince victims that family members are cursed and that money must be "blessed" by spiritual healers, after which the victims discover their valuables have been replaced with empty bags.
newschannel6now.com
· 2025-12-08
Experts warn that seniors and residents of rural communities are increasingly targeted by scams, including cryptocurrency investment schemes and door-to-door contractor fraud, with investment scams averaging $4,000 in losses per victim. Red flags include unsolicited investment offers from unknown individuals and scammers exploiting loneliness through friendship-building tactics before pitching schemes. The Better Business Bureau recommends verifying the legitimacy of contacts and reaching out to the BBB if you suspect involvement in a scam.
vocal.media
· 2025-12-08
The Health 2.0 Conference highlighted healthcare fraud as a rapidly growing threat targeting seniors, who are vulnerable due to complex medical needs, digital disadvantages, and social isolation that scammers exploit through fake insurance plans, Medicare billing fraud, telehealth scams, and spoofed portals. Healthcare providers, policymakers, and innovators are urged to implement intelligent systems and vigilance to detect red flags such as unexpected charges and unfamiliar providers to protect this vulnerable population.
amac.us
· 2025-12-08
Senior citizens are targeted by an emerging scam involving street vendors selling bottled water in Atlanta who use Cash App and QR codes to overcharge customers—two victims reported losses exceeding $1,000 and $800 respectively after scammers obtained access to their phones or directed them to fraudulent QR codes that bypassed verification steps. To protect themselves, seniors should avoid purchases from unestablished roadside vendors, never hand phones to sellers, and refrain from scanning unfamiliar QR codes, instead conducting transactions only with reputable, established businesses through verified payment methods.
fox35orlando.com
· 2025-12-08
Mei Dong and Dong Ye, owners of a sushi restaurant in Rockledge, Florida, were arrested in June 2024 after a Wisconsin police investigation dating to 2023 uncovered an alleged tech support scam targeting seniors across multiple states. A 76-year-old victim was deceived into purchasing $4,300 in gift cards and wiring $10,000 to California after his computer was compromised, with investigators tracing the gift card purchases to the suspects through store surveillance and receipts. Both suspects bonded out of Florida jail and face theft and false representation charges in Wisconsin.
kesq.com
· 2025-12-08
Two individuals were arrested in Australia in connection with "Chinese blessing scams" targeting elderly Asian women, with one 63-year-old woman detained at Sydney Airport and her alleged accomplice, also 63, arrested at Brisbane Airport as he attempted to flee to China. The pair are accused of defrauding a 77-year-old woman of approximately $85,000 AUD in cash and jewelry in June, part of a larger investigation into 80 reported cases involving alleged theft totaling $2 million AUD across Australia's east coast. The scam involves perpetrators convincing vulnerable elderly victims that family members are cursed and that their wealth must be "blessed" by spiritual healers,
ainvest.com
· 2025-12-08
Michael Zidell sued East West Bank and Cathay Bank for allegedly failing to detect and prevent fraudulent transfers totaling approximately $17 million that he lost in a sophisticated crypto romance scam involving an NFT investment platform. The scam began when Zidell was contacted via Facebook by someone posing as "Carolyn Parker," who cultivated a romantic relationship before directing him to transfer funds through multiple bank accounts; the platform disappeared in April 2023, leaving Zidell with losses exceeding $20 million. Zidell's lawsuits allege the banks ignored red flags including unusually large and repetitive transactions and violated elder abuse protections, marking a significant case regarding financial institutions'
punchng.com
· 2025-12-08
Ehis Akhimie, a 41-year-old Nigerian man, pleaded guilty to conspiracy to commit mail and wire fraud for his role in a transnational inheritance scam that defrauded over 400 elderly Americans of more than $6 million. The scheme involved sending fake letters claiming victims were beneficiaries of multimillion-dollar inheritances from Spanish relatives and demanding upfront fees for processing and delivery. Akhimie, who faces up to 20 years in prison, worked with international accomplices and money mules to receive and launder stolen funds, with law enforcement from the U.S., UK, Spain, Portugal, and Nigeria collaborating to