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Multi-Million Dollar Scam Targets Elderly Americans
Eight people have been charged in a federal grand jury indictment for their alleged roles in a nationwide grandparent scam that stole millions of dollars from elderly victims in San Diego County and across the nation.
According to statements made by prosecutors in court, the defendants swindled more than $2 million from 70-plus elderly victims across the nation, with at least 10 in San Diego County, by feeding them phony stories that their grandchildren were in terrible trouble and needed money fast.
Acting U.S. Attorney Randy Grossman described the scheme as ‘unconscionable,’ saying, ‘This scheme has left many elderly victims financially and emotionally devastated. It is unconscionable to target the elderly and exploit their love for their grandchildren. Elder fraud is a serious crime against some of our nation’s most vulnerable citizens.’
The defendants are accused of participating in a large network that systematically targeted elderly Americans, preying on their concern for loved ones. The indictment alleges that this organization was involved in extortion, fraud, and money laundering – all hallmarks of organized crime.
The investigation began in San Diego with one victim and a small loss, but grew exponentially to include victims in El Cajon and across the nation. FBI Special Agent in Charge Suzanne Turner said, ‘Elder Fraud is a massive and growing problem as our county’s population gets older, with losses into the billions of dollars nationwide.’
The indictment was unsealed this week, and six of the eight defendants have been arrested. The defendants are charged with violating the racketeering statute known as RICO, the federal law designed to combat organized crime. This is believed to be the first time the RICO statute has been used in an elder fraud case.
Key Facts
- State: California
- Category: Crime
- Source: DOJ Press Release â†â€â€
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