A California woman has lost nearly $1 million to bad actors in a pig butchering scam. According to the police report, the scam, which took the shape of a romance crypto scam, saw the bad actors target yet another elderly widow who thought she had found love and a long-time companion on the internet.
The incident is also another brutal wake-up call to victims, as scammers continue to lure elderly widows and widowers, especially in the California area, into what seems like a loving relationship. After they had been trapped and asked to give away funds running into millions, the victims now discover they have been scammed.
Details of the Scam
The victim, Margaret Loke, has been full of regrets since the incident occurred, going over bank statements, wire transfer documents, and other stuff that could help law enforcement nab the criminals. According to the police, the scam wiped nearly all her funds, leaving her with almost nothing to live on. “Why am I so stupid. I let him scam me!” she said. “I was really, really depressed.”
According to reports, the California woman could also lose the two-bedroom condo she bought for her retirement. She mentioned that she has been working tirelessly to save the house, noting that it is the only thing she has left. Loke noted that she had lived a fairly quiet life since her husband passed, but things changed in May when a friend connected her with a man on Facebook.
“She says, ‘Oh this is a nice guy… you just say hi to him, that’s it’… I say, ‘We are from San Jose,’ and then he said, ‘Oh I like to, you know, meet people from San Jose, and I’m from Texas,'” Loke recounted. The California woman noted that the man’s name was Ed, a businessman of Chinese descent. She added that they hit it off almost instantly, moving their chats to WhatsApp after chatting online for a while.
The California widow added that he was really nice to her, greeting her every morning. She said he sometimes wakes up ahead of her just to send her beautiful messages in the morning. Soon after they started talking, the man started making his intentions known. She added that while they talked every day, they shared interesting details about their lives, including what they ate, where they went, and other details. Soon, he started calling her honey.
Romance and Investment Scheme
The pair continued to share loving messages, while Loke mentioned that Ed always insisted that they didn’t have to meet in person. He also asked her to keep their romance a secret. A while after, he started prying into her investments, asking her what kind she had. Loke, unsuspecting of any agenda, told him that she didn’t have any investment, a reply that Ed found surprising.
Ed told her that he was rich because of all the investments that he had made, highlighting that she could also be rich. The California woman claimed that Ed wanted to give her $15,000 to invest in digital assets, a gesture she rejected. She told him she had enough money to invest in whatever she wanted. Under his guidance, she wired her money into an account and then signed up on a crypto investment website.
After a while, the investment site showed that she had made big profits. Seeing the kind of profit she could make, the California woman moved $120,000 into the online account. Again, she saw big profits. Ed then told her to keep investing to reach their goal of $5 million. After a series of investments, she realized that the funds were frozen when she tried to withdraw her funds.