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Search across 22,013 articles about elder fraud. Filter by fraud type, payment mechanism, or keywords.
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in Robocalls / Phone Scams
etvbharat.com
· 2025-12-08
Truecaller announced Scamfeed, a new in-app community feature that allows users to anonymously report and discuss scams in real-time, creating a crowdsourced early warning system against fraud. The platform enables users to share experiences with various scam types—including phishing, impersonation, dating scams, and financial fraud—and check if others have reported similar suspicious activity, helping users identify red flags and protect themselves and their networks.
regtechtimes.com
· 2025-12-08
Barbara Trickle, an 80-year-old Las Vegas resident, pleaded guilty to operating a prize notice scam that defrauded over $15 million from thousands of elderly victims across the United States between 2012 and 2018. Using her printing and mailing company, Trickle designed and distributed millions of fraudulent letters claiming recipients had won cash prizes but needed to pay small upfront fees ($20-$50) to claim them; victims received only cheap trinkets or bogus reports and were repeatedly targeted with additional mailings. The U.S. Postal Inspection Service shut down the operation in February 2018, and authorities warn the public to avoid responding
ktemnews.com
· 2025-12-08
Following natural disasters in Texas, scammers target vulnerable residents seeking repairs and relief, with 63% of state residents falling victim to post-disaster scams according to Instant Roofer data, and Hurricane Beryl alone causing $2 billion in damage and displacing 1.4 million people. Common scams include fraudulent contractors, fake FEMA representatives, phony charities, and identity theft schemes. To protect yourself, verify business reviews, get all agreements in writing, avoid upfront payments, and be cautious of unsolicited relief offers and utility shutoff threats.
tmj4.com
· 2025-12-08
A retired woman in Oconomowoc, Wisconsin lost her entire savings of $24,000 to a cryptocurrency scam after scammers impersonated Microsoft and her bank, convincing her to transfer money to a Bitcoin ATM under the false pretense of protecting her account from fraud. Local police reported an alarming increase in similar crypto scams over the past year, with some departments posting warning signs at Bitcoin ATMs to alert residents to common scam tactics. Once the money was transferred to the ATM, it was lost and likely moved internationally.
mycentraljersey.com
· 2025-12-08
The FBI warned of a growing "smishing" scam targeting E-ZPass users and toll service customers with fraudulent text messages claiming unpaid tolls (typically $3.95-$12.55) and requesting immediate payment via malicious links to steal personal and financial information. Scammers are also using similar tactics for package delivery, tax, and utility bill scams, with AI being used to improve the fraudulent messages; victims should delete suspicious texts immediately, never click links requesting payment or personal information, and if compromised, freeze accounts and file complaints with the Internet Crime Complaint Center.
lifehacker.com
· 2025-12-08
The "wrong number" text scam is increasingly prevalent, with approximately 25% of Americans receiving such messages, which criminals use to validate active phone numbers and build trust before conducting "pig butchering" schemes or stealing personal information. Text message scams caused consumers to lose $470 million in 2024, a five-fold increase from 2020, with scammers using AI to tailor believable messages and identify vulnerable targets through social media. To protect yourself, do not respond to unknown numbers, mark messages as spam using your phone's reporting features, and forward suspicious texts to 7726.
intelligentciso.com
· 2025-12-08
VIPRE Security Group's analysis of 1.45 billion emails in Q1 2025 found that 92% were spam (67% malicious), with cybercriminals increasingly shifting toward "low-tech" human-focused attacks like callback phishing scams (now 16% of phishing attempts) and malicious SVG image file attachments (34% of phishing attachments) to bypass traditional defenses. The US was the primary target and source of spam, with the manufacturing sector most frequently targeted, highlighting the need for stronger awareness of social engineering tactics alongside technological security measures.
psychologytoday.com
· 2025-12-08
Scammers in California's Bay Area are impersonating FasTrak, the state's electronic toll collection system, sending text messages claiming users owe small amounts (such as $3.95) with urgent warnings to pay or face penalties and links to fraudulent websites. The scams have become increasingly sophisticated, now featuring correct spelling, official logos, and convincing websites that mimic legitimate sites, making them difficult for consumers to identify. To protect themselves, recipients should verify messages directly through official FasTrak websites or customer service rather than clicking links in unsolicited texts.
nbcnewyork.com
· 2025-12-08
This is not an article about elder fraud, scams, or abuse. It appears to be a promotional piece about consumer reporter Lynda Baquero and her commitment to responding to consumer inquiries. It contains no information about fraud, scams, elder abuse, or consumer harm that would be relevant to the Elderus database.
wiscassetnewspaper.com
· 2025-12-08
Lincoln County Sheriff's Office documented 29 fraud cases in 2024 with potential losses of $452,356 to local residents, with romance and family emergency scams accounting for the highest losses at $222,780, followed by technical support scams at $94,300 and cryptocurrency fraud at $55,000. Detective Jared Mitkus reported a recent spike in grandparent/bail scams (March 2025), including two cases where victims lost $63,000 total to couriers collecting cash at their homes, and emphasized that legitimate bail commissioners and law enforcement never collect bail payments in person. Law enforcement advises victims to verify emergency calls by directly contacting the family member
boothbayregister.com
· 2025-12-08
Lincoln County Sheriff's Office documented 29 fraud cases in 2024 with potential losses totaling $452,356 for local residents, with romance and family emergency scams causing the highest losses ($222,780), followed by technical support scams ($94,300) and cryptocurrency fraud ($55,000). The office is seeing a recent spike in grandparent and bail scams, including cases where scammers sent couriers to victims' homes to collect cash in person, with two separate victims losing $63,000 combined in the first quarter of 2025. Law enforcement advises victims to verify emergency claims by calling the person directly and to be aware that legitimate bail commissioners and law enforcement will never
bitcoinke.io
· 2025-12-08
Nigeria's Ministry of Foreign Affairs raised alarm over a surge in "cyber slavery" and organized scam operations targeting vulnerable Nigerian youth, particularly those lured abroad with false job promises in crypto-related fields. Perpetrators force victims into "419 cyber-scam factories" where they conduct mass fraudulent communications under coercive conditions targeting international victims. Recent enforcement actions include the EFCC's arrest of 792 individuals in December 2024 (including 148 Chinese nationals training Nigerian accomplices in romance and investment scams) and an ongoing investigation into the CBEX crypto platform collapse affecting users across multiple African countries.
thenevadaglobe.com
· 2025-12-08
An 80-year-old Las Vegas woman, Barbara Trickle, pleaded guilty to orchestrating a nationwide prize scam that defrauded over $15 million from victims between 2012 and 2018, primarily targeting senior citizens through fake lottery and sweepstakes notices requesting fees of $20-$50. No victims received promised prizes, and federal authorities shut down her printing and mailing business operation through multiple search warrants. The Department of Justice encourages seniors and fraud victims to report similar scams to the National Elder Fraud Hotline at 1-833-FRAUD-11.
amac.us
· 2025-12-08
Diversion scams targeting seniors are on the rise, with a cluster of burglaries in Philadelphia where two perpetrators worked together—one posed as a worker (fence or electrician) to distract elderly victims while the other burglarized their homes, stealing over $250,000 in jewelry, cash, and valuables. Seniors are particularly vulnerable due to having financial savings, living alone, and often being trusting, making them attractive targets. Protection strategies include verifying unknown visitors' identities through official channels, maintaining home security (locked doors, peepholes, good lighting), never opening doors to strangers, and immediately reporting suspicious activity to police.
kesq.com
· 2025-12-08
The Palm Springs Police Department is warning seniors in the Coachella Valley about increasingly sophisticated online scams targeting older adults through phone calls, emails, text messages, and QR codes to steal personal and financial information. The Joslyn Center in Palm Desert is combating these scams by offering weekly "Teach Tech" classes that educate seniors on how to identify and avoid common fraud tactics, and is seeking volunteers to expand these educational programs to meet growing demand.
hercampus.com
· 2025-12-08
This article is a first-person account from a college student describing her experience with a suspected fraudulent internship opportunity, not a completed elder fraud case. The student was recruited via LinkedIn by a marketing firm with vague credentials, red flags including a LinkedIn profile with no members and communication via text rather than email, and was invited to multiple interview rounds. While the article does not detail financial losses or confirm the scam was completed, it serves as a cautionary tale about job recruitment fraud targeting vulnerable populations—in this case, desperate job-seeking students rather than elders.
nbclosangeles.com
· 2025-12-08
Immigration attorney Alma Rosa Nieto warned her 200,000+ Instagram followers that scammers have been using her photos and impersonating her to target undocumented immigrants online. One victim, Cecilia, was scammed out of $2,500 after a fake Nieto page convinced her to send payments via Zelle for immigration case assistance. Nieto advises the public to call her office directly to verify any communications and notes that her legitimate office never requests Zelle payments.
justice.gov
· 2025-12-08
**Summary:**
Barbara Trickle, 80, of Las Vegas pleaded guilty to conspiracy to commit mail and wire fraud for operating a prize notice scam from 2012 to February 2018 that defrauded thousands of consumers, predominantly elderly, of over $15 million. Trickle and her co-conspirators mailed fraudulent notices claiming victims had won cash prizes and would receive them upon paying $20-$50 fees; victims instead received worthless reports or trinkets and were subsequently inundated with additional fraudulent mailings. The scheme was shut down following a U.S. Postal Inspection Service investigation and court order.
states.aarp.org
· 2025-12-08
This AARP educational article provides guidance on recognizing and avoiding common scams targeting consumers. Key fraud tactics covered include sweepstakes scams requiring upfront payment or personal information, fake checks used to exploit processing delays, fake QR codes directing victims to phishing sites, and cybercriminals stealing personal data. The article recommends protective measures such as creating strong passwords, enabling multi-factor authentication, keeping software updated, pausing before responding to urgent communications, and verifying checks through banks before acting on funds.
fox9.com
· 2025-12-08
Texting scams are becoming increasingly sophisticated, with common schemes including fake unpaid toll notices, prize offers, student loan assistance, and AI-generated celebrity videos (such as Kevin Costner impersonations) that request money. Minnesota ranks 12th nationally for impostor scams with a median loss of $800 per victim, and experts advise recognizing red flags such as urgent requests, unknown senders, international numbers, and requests for gift cards or remote computer access, noting that legitimate government agencies and the FBI never ask for payment via gift cards.
landline.media
· 2025-12-08
Scam emails impersonating WEX or Fleet One fuel card providers targeted Truckers Advantage fuel card holders, instructing recipients to click links and enter login credentials to prevent account closure. OOIDA confirmed these fraudulent messages were not sent by the company or its partners and advised recipients to delete them immediately, while WEX reiterated it never requests sensitive account information via unsolicited communications. The article provides guidance on avoiding phishing scams, including avoiding clicking email links, verifying contact numbers independently, and using multi-factor authentication.
actraottawa.ca
· 2025-12-08
This educational article outlines common scams targeting aspiring performers by talent agencies, modeling scouts, and workshop providers who charge excessive upfront fees, guarantee work falsely, or require students to purchase services from affiliated providers. Legitimate talent agents operate on industry-standard commission (15% plus GST on actual work procured) and do not charge sign-up fees, guarantee employment, or pressure clients into workshops or photography services. The article advises performers to research credentials, avoid "one-stop shop" providers that offer both training and casting services, and never sign agreements under pressure or without independent advice.
coingeek.com
· 2025-12-08
U.S. House lawmakers introduced the bipartisan GUARD Act on April 21 to combat "pig butchering" scams and financial fraud targeting older Americans, particularly through online and investment schemes. The legislation would equip federal, state, and local law enforcement with blockchain technology tools to trace and prosecute scammers, addressing a crisis in which Americans reported over $12.5 billion in fraud losses in 2024 (a 25% increase year-over-year), with older adults suffering disproportionately higher losses—including pig butchering schemes that accounted for 33.2% of digital asset scam revenue in 2024.
marieclaire.com.au
· 2025-12-08
**Online Romance Scam Leading to Drug Smuggling Conviction**
In January 2023, 58-year-old Donna Nelson, an Aboriginal community leader from Western Australia, was arrested at Tokyo customs after carrying two kilograms of methamphetamine in a suitcase she believed belonged to "Kelly," a man she had been in an online romantic relationship with for two years via a dating website. Nelson claims she fell victim to a calculated romance scam designed to lure her to Japan under false pretenses, but her legal defense was unsuccessful and she was sentenced to six years in prison in December 2024. Her five daughters are now fighting for her release, maintaining her innoc
404media.co
· 2025-12-08
A romance scam involving a deepfake technology was documented, in which a fraudster used real-time facial manipulation software to impersonate an older white man during a video call with an elderly woman, building rapport through compliments and offers of protection in an apparent attempt to manipulate her into sending money. The scam demonstrates how artificial intelligence can enhance traditional romance fraud tactics by creating convincing fake video identities that are difficult for victims to detect during live interactions.
ksisradio.com
· 2025-12-08
St. Louis County Police issued an alert about a text message scam impersonating Apple ID security notifications, claiming unauthorized purchases were made and requesting users to verify their account. The scam attempts to steal personal and payment information, with potential for identity theft and financial loss. Police recommend contacting local law enforcement if victimized, and advise recipients to avoid clicking links in unsolicited texts and instead visit Apple's official website directly to check account activity.
abc.net.au
· 2025-12-08
Scammers used artificial intelligence to create sophisticated fake websites for nonexistent investment and mining companies, including elaborate details like fake board member profiles, company policies, and financial documents that fooled even a professional fraud analyst. A cyber risk expert notes that AI has made scams harder to detect because it can now generate convincing fake images, websites, policies, and financial reports, while traditional verification methods like checking comments and likes can also be AI-generated. The general public now requires support from multiple experts in finance, technology, and cybersecurity to adequately verify online information and protect themselves from these AI-enhanced scams.
fraudsmart.ie
· 2025-12-08
FraudSMART is alerting consumers to a sophisticated text and phone scam impersonating banks, where scammers send messages appearing within genuine banking threads and pose as bank security departments to extract personal and financial information or authorization codes that grant account access. The scam often includes urgency tactics, requests to delete banking apps, or claims of delayed login details to prevent victims from monitoring their accounts while fraudsters transfer funds. Consumers should never respond to unsolicited bank communications, should verify contacts using numbers on their bank cards, and should immediately contact their bank and report incidents to authorities if targeted.
finance.yahoo.com
· 2025-12-08
A Wisconsin woman lost $80,000 to a cryptocurrency investment scam after discovering it on Facebook and being lured by promises of rapid returns; she initially invested $30,000, saw her balance apparently double, invested additional funds, and ultimately paid an extra $30,000 in fraudulent "taxes and fees" before realizing the investment dashboard was fake. The scam exemplifies the growing sophistication of crypto fraud in the U.S., where Americans lost $1.4 billion to cryptocurrency-related scams in 2024, with police indicating recovery of the funds is unlikely.
expressandstar.com
· 2025-12-08
A Barclays report found that romance scams increased 20% year-over-year, with victims losing an average of £8,000, rising to £19,000 for those aged 61 and over. In these scams, perpetrators pose as romantic interests to build trust and solicit money from victims. The article discusses both the benefits and risks of online dating apps in 2025, highlighting romance fraud as a significant threat to users, particularly older adults.
uk.news.yahoo.com
· 2025-12-08
Police in Fermanagh and Omagh warned of a "fake new bank card" scam in which fraudsters impersonated bank officials, convinced victims their accounts were compromised, and instructed them to enter card details into a fraudulent card reader, resulting in large unauthorized withdrawals. The warning also noted related fraud cases including bogus tradesmen on social media and WhatsApp impersonation scams, with authorities urging the public to remain vigilant against unsolicited financial requests regardless of source and to report incidents to police and their banks immediately.
wcpo.com
· 2025-12-08
A veterinarian in Deer Park, Ohio lost $2,000 to an elaborate jury duty scam in which a caller impersonated a Hamilton County Sheriff's Office official, claiming she had missed jury duty and owed a fine. The scammer isolated his victim by instructing her to use her mobile phone, visit Walmart, and use provided barcodes to transfer money from her debit card through the store's money services. Legitimate court summons arrive by mail, not phone calls, and red flags include demands for payment via retail stores, pressure to keep calls secret, and requests to move to personal devices.
ktar.com
· 2025-12-08
"Smishing" (SMS phishing) scams involve criminals sending vague text messages from spoofed numbers to lists of phone numbers obtained through data breaches or random generation, with the goal of getting recipients to respond and confirm their number is active. Once a response is received, scammers build rapport through casual conversation before pivoting to requests for money, investment opportunities, malware links, or personal information for account hijacking. The safest defense is to not respond to suspicious texts, block and report them, and recognize that these carefully crafted messages exploit high SMS open rates (98%) and response rates (45%) to identify and manipulate vulnerable targets.
financial-planning.com
· 2025-12-08
A Government Accountability Office study found that fragmented federal oversight and lack of coordination among 13+ agencies hampers efforts to combat scams that cost Americans "large sums" including entire life savings. The report identified massive underreporting—only 5-15% of victims report scams—and recommended 16 actions including establishing a government-wide strategy, universal definition, and comprehensive estimate of scam losses to improve consumer protection efforts.
mitrade.com
· 2025-12-08
Americans aged 60 and above lost $4.8 billion to cybercrime in 2024, a 43% increase year-over-year, with 7,500 seniors each losing $100,000 or more—more than any other age group according to the FBI's Internet Crime Report. Seniors are particularly vulnerable due to digital literacy gaps, isolation, financial assets, and trust in institutions that scammers impersonate, with cryptocurrency scams (especially "pig butchering" romance cons) and tech support fraud being especially profitable schemes. The article argues that current regulatory and institutional responses are fragmented and inadequate, placing fraud prevention burden on individuals rather than treating elder cybercrime
levittownnow.com
· 2025-12-08
A 69-year-old Philadelphia woman nearly fell victim to a sophisticated tech support scam in which fraudsters impersonating Microsoft and her bank claimed she had been hacked and threatened arrest, attempting to manipulate her into withdrawing cash to purchase cryptocurrency. The scam exploited heightened emotions and urgency, tactics that have become more effective with AI advancement and access to personal data on the dark web. According to the FTC, Americans lost between $23.7 billion and $158.3 billion to financial scams in 2023-2024, with cryptocurrency transfers and digital payment methods making these crimes particularly difficult to trace and recover from.
wired.com
· 2025-12-08
This is a news roundup covering multiple security and privacy topics. Key points related to fraud include: cybercriminals stole a record $16.6 billion from US entities in 2024 (a 33% increase from 2023), with phishing, spoofing, extortion, investment scams, and business email compromise being the leading crime types; Google's new end-to-end encrypted email feature for Workspace accounts may create new phishing opportunities through fake invitation scams; and various government privacy and security incidents were reported.
visayandailystar.com
· 2025-12-08
Asian crime syndicates operating multibillion-dollar cyberscam networks have expanded globally from Southeast Asia to South America and Africa despite regional law enforcement raids, according to the UN Office on Drugs and Crime. These organized groups operate scam farms housing thousands of trafficked workers generating tens of billions in annual profits, with the U.S. alone reporting $5.6 billion in losses to cryptocurrency and romance scams in 2023, disproportionately affecting elderly and vulnerable victims. As Southeast Asian governments intensify crackdowns, the syndicates have adapted by exploiting weak governance and corruption to relocate operations, demonstrating the difficulty of containing what officials describe as a global criminal enterprise.
cnbc.com
· 2025-12-08
Scammers are increasingly using "wrong number" text messages, often AI-assisted, to identify active phone numbers and build relationships with potential victims for future financial exploitation. In 2024, consumers lost $470 million to text message scams—five times higher than 2020—with scammers targeting life savings and retirement accounts through prolonged "pig butchering" schemes that exploit people's psychological need for connection. One in four Americans has received these deceptive texts, and experts advise not engaging with suspicious messages, as scammers use data dumps combined with AI to create highly believable, personalized scams.
wbng.com
· 2025-12-08
The FBI estimates over 250,000 Americans lost more than $16 billion to scams in 2024, with adults over 60 accounting for nearly $5 billion of those losses. Law enforcement officials note that scammers have become increasingly sophisticated, using data mining and personalized tactics to target victims, and emphasize that people should avoid answering unknown calls, verify contact information independently, and promptly report suspicious activity to banks and family members to prevent further damage.
housebeautiful.com
· 2025-12-08
An "upgrade scam" targets Facebook Marketplace sellers by convincing them that a fake payment is pending until they pay to "upgrade" their Venmo or Zelle account—a nonexistent service. Scammers send fraudulent emails impersonating payment platforms, asking sellers to pay fees or refunds before the buyer has actually sent any money, resulting in financial loss for the seller. To avoid this scam, sellers should verify payments directly in their accounts before sending items, ignore pushy buyers, and be skeptical of unsolicited upgrade requests, as legitimate payment platforms process transfers within minutes and have no such upgrade options.
6abc.com
· 2025-12-08
Scammers are increasingly using AI voice-cloning technology to impersonate loved ones in emergency scams, with deepfakes becoming so advanced that even experts struggle to detect them. A Consumer Reports investigation found that four of six popular voice cloning apps lack meaningful safeguards to prevent unauthorized voice replication, and no federal laws currently prohibit this practice. Experts recommend protecting yourself by enabling two-factor authentication on financial accounts, being skeptical of unexpected calls or messages requesting personal information, and maintaining healthy skepticism of anything heard online.
explorejeffersonpa.com
· 2025-12-08
Scammers impersonating State Troopers and court officials are calling Pennsylvania residents and threatening arrest for missed jury duty or contempt of court, demanding immediate payment via gift cards, wire transfers, or cryptocurrency. The imposters use spoofed caller IDs, fake case numbers, and victims' personal information to appear credible. Pennsylvania State Police warn that legitimate government agencies never request payment through untraceable methods or personal financial information over the phone, and urge residents to hang up immediately and contact local police if targeted.
silive.com
· 2025-12-08
Between December 2023 and February 2025, the FBI received over 100 reports of scammers impersonating the FBI's Internet Crime Complaint Center (IC3) to target previous fraud victims with promises of fund recovery. The scammers use fake social media profiles, emails, phone calls, and messaging apps to gain access to victims' sensitive financial information, resulting in repeated victimization. The FBI advises that IC3 will never directly contact individuals through these channels, and people should never send money or share personal information with unknown contacts.
cyberscoop.com
· 2025-12-08
The bipartisan GUARD Act proposes to equip federal, state, local, and tribal law enforcement with federal grant funding and advanced technological tools—including blockchain tracing capabilities—to investigate financial fraud schemes targeting elderly Americans. The legislation responds to a 46% surge in financial fraud complaints from people over 60 in 2024, which resulted in over $4.8 billion in losses, with particular concern about emerging scams like pig butchering and SMS phishing targeting toll road violations.
cryptopolitan.com
· 2025-12-08
Americans aged 60 and above lost $4.8 billion to cybercrime in 2024, a 43% increase year-over-year, with 7,500 seniors losing $100,000 or more each—more than any other age group, according to the FBI's Internet Crime Report. Seniors are particularly vulnerable due to limited digital literacy, isolation, substantial savings, and advanced, personalized scams; cryptocurrency investment schemes ("pig butchering") alone accounted for $2.8 billion in losses. The article argues that existing U.S. regulations fail to address digital threats adequately, unlike European programs, and calls for systemic reform including real-time fraud detection
broadbandbreakfast.com
· 2025-12-08
As broadband adoption among adults 65+ reaches 90%, older adults with significant wealth holdings are increasingly targeted by scammers exploiting online platforms. In 2024, the FTC reported $12.5 billion in consumer losses to scams and fraud nationally, with global losses exceeding $1 trillion, making fund recovery nearly impossible due to money laundering complexities. The article advises older adults to pause before responding to unsolicited communications, verify requests by contacting relatives directly, and avoid "too good to be true" offers, particularly fake employment and quick-cash schemes, while recognizing that scammers now use spoofing, phishing, and AI-generated voice/video imp
indiatoday.in
· 2025-12-08
Indian national Hardik Jayantilal Patel, living illegally in the US, was sentenced to 46 months in federal prison for orchestrating a telemarketing scam that defrauded senior citizens of $3.2 million between March and November 2019. Patel and his network of "runners" impersonated US government officials, threatening victims with fake investigations and demanding cash payments, which the runners then collected and laundered. Patel was ordered to pay $3.2 million in restitution to 85 identified victims and faces removal from the country following his sentence.
ktbs.com
· 2025-12-08
In 2024, over 859,000 Americans reported internet scams to the FBI's Internet Crime Complaint Center, resulting in $16.6 billion in losses—a 33% increase from the previous year. Investment scams caused the largest losses at $6.5 billion, while seniors aged 60+ lost $2.5 billion, with tech support scams being particularly devastating for this group at nearly $1 billion. The report emphasizes that awareness and caution—avoiding suspicious links, refusing remote access requests, and verifying urgent requests—are essential defenses against these schemes.
coingeek.com
· 2025-12-08
A Brazilian judge sentenced Joel Ferreira de Souza to 128 years in prison for laundering proceeds from the Braiscompany Ponzi scheme, which defrauded approximately 20,000 investors of around $190 million between 2020-2023. Simultaneously, the U.S. SEC charged Ramil Palafox with operating a fraudulent crypto and foreign exchange scheme called PGI Global that raised $198 million from investors worldwide, with Palafox misappropriating over $57 million for personal luxury purchases while using remaining funds to pay earlier investors in a Ponzi-like structure.