Elder Scammers Bilk Seniors of $1 Billion

Elderly Americans have been bilked out of more than $1 billion in the largest coordinated sweep of elder fraud cases in history, with over 400 defendants charged nationwide.

The cases, announced by Attorney General William P. Barr at an event in Florida entitled "Keeping Seniors Safe," involve financial schemes that targeted or largely affected seniors. The schemes, which were prosecuted by the Consumer Protection Branch and U.S. Attorneys’ Offices, caused alleged losses of over $1 billion.

"Americans are fed up with the constant barrage of scams that maliciously target the elderly and other vulnerable citizens," said Attorney General William P. Barr. "This year, we prosecuted more than 400 defendants, whose schemes totaled more than a billion dollars. I want to thank the men and women of the Consumer Protection Branch, which coordinated this effort, and all those in the U.S. Attorneys’ Offices and Criminal Division who worked tirelessly to bring these cases."

The charges announced today demonstrate the great success of the Transnational Elder Fraud Strike Force, which is composed of the Consumer Protection Branch and six U.S. Attorneys’ Offices. The Strike Force prosecuted more than one quarter of the defendants charged as part of the announced sweep.

The National Elder Fraud Hotline, launched by Attorney General Barr, will provide services to seniors who may be victims of financial fraud. The Hotline will be staffed by experienced case managers who can provide personalized support to callers. When applicable, case managers will complete a complaint form with the Federal Bureau of Investigation Internet Crime Complaint Center and submit a consumer complaint to the Federal Trade Commission on behalf of the caller.

The Hotline’s toll-free number is 833-FRAUD-11 (833-372-8311). Americans can report scams and get help by calling this number or visiting the website of the Federal Trade Commission or the National Consumers League.

The Transnational Elder Fraud Strike Force, established in June 2019, has been instrumental in identifying and stopping those who target senior communities from overseas. "Every day, American consumers, particularly older Americans, receive offers that sound just too good to be true," said Chief Postal Inspector Gary R. Barksdale. "Some come through the mail; others by telephone or the Internet. These offers have one objective – to rob you of your hard-earned money."

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