AN elderly South Florida man was out $18,500 after a fraudster had targeted his vulnerability with a so-called grandson scam.
The victim, in his 80s, willingly handed over the money after receiving an alarming phone call.
The concerning call came last July, claiming that the man’s grandson was in jail.
“And that’s all I could think about my grandson being in jail, so it was easy to get me to say anything, do anything,” the elderly man, who chose to stay anonymous, told CBS.
He fully believed that his grandson needed his help, immediately handing over $18,500 to a rideshare driver outside his home in a small box.
“Then I called this number back that I knew. It doesn’t exist,” recounted the grandfather.
“When that happened, I called my grandson. He just got out of the shower. Then I realized how stupid I was, but it was done. Scammed – but I was relieved.”
He reported the fraud to Miami-Dade Police, prompting the arrest of Agustin Garcia-Marsan on several felony counts on July 22.
But seven months later, in late February, the State Attorney’s Office cleared the scammer and dropped the charges against him.
“I’m not the person I was made out to be,” said Garcia-Marsan in Spanish.
Attorney Jay White said they had worked hard to prove that Garcia-Marsan was not involved in the scam, noting that the GPS tracking device records revealed that he was not where police said he was.
“The credit cards mentioned in the police report were not his,” added the attorney. “All the call logs show it was not him.”
The suspect claimed that he was at home when the alleged scam occured and that being caught up in the case had made it tough to find a good-paying job.
The elderly man is now looking to speak with investigators about the next steps in his case.
“Something has to be done about it,” he said.
HANG UP
Scams are on the rise, so it is important to always remain weary when you receive an unexpected phone call.
Another scam victim from Atlanta lost $280,000 from his Vanguard retirement and savings accounts after receiving calls from a person claiming to be a federal agent.
The fraudsters first emailed the elderly man stating that he had bought virus protection software but not yet paid for it.
“He said, well, it shows that you owe this amount of money and you’re going to have to go to your bank and get this money out and then I’ll tell you where to go. So, I did what he said,” said the man.
He ultimately realized he had been scammed out of $6,000, relieved to receive another phone call from a person claiming to work for US Cybercrime.
Bank tips for avoiding scams
As scams become more sophisticated with the use of artificial intelligence, it is important you know how to spot a scam:
Be skeptical of online deals that seem too good to be true, especially on social media. Scammers will often use tactics to make you panicked so you make quick decisions – be cautious if you are told to take immediate action and verify who has contacted you. Chase Bank warns customers to “never return any unexpected funds without calling Chase first.” Never send money to someone you have only spoken to online or by phone as this is likely a romance scam. Unless you 100% know who you are talking to, never give someone remote access to your device. Never accept help from strangers at an ATM and always be vigilant when making withdrawals. Do not send money or click any links indicating that you have won a prize.Source: Chase.com
“He said, I can reverse that. That money that you put in,” recounted the retiree.
The victim’s original $6,000 was returned to him, but it convinced him to listen to the thief’s instructions and log into his Vanguard account and other sites.
As he did so, the scammers viewed his computer remotely and gained access to his Vanguard passwords.
“I had right around $280,000 in Vanguard,” said the senior, who called the investment management company and told them he had not made any of the transactions.
However, because the withdrawals were made online using his confidential login credentials, Vanguard was unable to further assist the man, according to an employee.
“It was like my heart sank and I felt like I was in a deep pit,” said the man.
Georgia’s Division of Aging Services sent Vanguard a letter sharing that the state was investigating the case as potential elder exploitation.
The man also filed complaints with the Consumer Financial Protection Bureau and other agencies.
Others have similarly fallen victim to scams, losing tens of thousands of dollars.
One man lost $80,000 in savings after months of “gold” calls and texts – he even got an “official letter.”
Plus, an elderly couple lost $45,000 in a quick click from a common scam, losing their entire life savings in a flash.
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