An elderly Southern California couple may lose their longtime home after scammers posing as FBI agents stole nearly $1 million from them.
The couple were contacted in February last year by scammers who claimed that the couple needed to clear their names by converting their money into cryptocurrency so that the FBI could trace the funds as part of the investigation. Reports KTLA.
Victims were provided with false documents claiming that someone had stolen their identities and created fraudulent bank accounts with them. They were told that they were considered suspects in the case.
The victims believed they were speaking with legitimate federal agents, so they withdrew their retirement savings and took out loans before handing over about $850,000 to bad actors.
The scammers allegedly told the couple that converting the money into digital form would allow authorities to trace the origins of the money and clear it in the investigation.
The pair eventually converted the money into cryptocurrency and sent it to the scammers, who believed they were working with the federal government.
The report says the couple could now lose the home they have lived in for more than 37 years after losing their life savings in the scheme.
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