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My father met a "young woman" on Facebook. He never met her, He never even spoke to her on the phone. She managed to get him to transfer several tens of thousands of dollars to a "crypto investment" last July. He has never received any documentation of this supposed investment. I have googled this "investment company". It is in China and was formed last July. Surprise, Surprise.


I have contacted the bank that made the transfer but they were unable to give any information other than the investment company's name and account number. Is there anything else I can do to try and get the money back? Which government authorities can I report this to, even if contacting them does not result in recouping the funds?

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Report to his state’s attorney general’s office and fraud division. Does your dad understand the mistake he made well enough not to repeat it again? It’s sad that seniors are so often targeted. I worked with a lady last year who is convinced she’s “married” to a man in another country, has sent endless money to him, mailed iPhones, etc. all to a “man” she’s never met. And this is someone who’s capable of holding down a full time job. In her case there’s truly nothing to be done. I’d hope your dad has learned and can be protected from a repeat. Sorry it happened
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Start with local police and move up the law enforcement ladder to file a case... possibly to do with financial elder abuse. In the event he has to apply for Medicaid nursing home bed, you would need police report to document scam for Medicaid to consider. Otherwise the entire gift could create penalty for certain number of months where Medicaid won't pay
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Federal Trade Commission (FTC) is the main agency that collects scam reports. Report the scam to the FTC online, or by phone at 1-877-382-4357 (9:00 AM - 8:00 PM, ET). The FTC accepts complaints about most scams, including these popular ones.

https://www.usa.gov/stop-scams-frauds
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Definitely report this to the state he lives in. You can usually fill out a form on a state website and while it's true that our authorities "can't do anything" in many real senses of the phrase, the attorney general or other gov't offices will collect the info and warn other people in the area or nationwide. So reporting them probably won't get the money back but it could help others stop it from happening to them.
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Omg I'm so sorry. Unfortunately if he made these transfers legitimately I'm afraid there is nothing you can do. Some people are so vulnerable to these scams young and old, men and women. My husband has a friend in his 60s who keeps sending money to a girl overseas he thinks is legit. It's mind boggling how someone actually believes these gorgeous women are real. I've wanted to reach out to his grown children to alert them but unless he is deemed mentally incapable there is nothing they can do.
You can report these scammers but when they are overseas there is nothing our authorities can do. The only thing you can do now is to take him to his bank and make you the primary acct holder so he doesn't have the authority to do anything like this again. If he is in stages of dimentia you need to get POA asap but if he is of sound mind he can do whatever he wants with his money.
Good luck 🙏
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The money is likely gone for good, so that's water under the bridge. It sounds like Dad shouldn't have access to his banking accounts anymore. This will happen again, his contact info is probably spreading all over the internet as we speak.
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sp19690 Dec 2022
Dad also should not be allowed on Facebook anymore either.
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The Geek Squad at Best Buy might be able to disconnect husband from Internet or block scammers in the mailbox. Apple technicians can assist if his computer is an Apple. Gotta disable the source of scammers.
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yankoz: Retain an elder law attorney.
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Besides all the good advice you've been given, monitor your dad's Facebook account. Make it private, disable messenger if you can. If not, monitor private messages, block and report shady accounts messaging him. I had to do this for a while with my dad. He fell for a phone scam, out $10K, FTC and police reports did nothing. Because they personally authorized the funds, there is usually no recourse. So I got stricter with everything - blocked a lot of phone calls, monitored Facebook and email. Used some parenting controls. For us, this was the beginning of the big downslide into much worsened dementia.
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File a police report. Give the police report to the bank. Get POA over your dad. File a fraud dispute with the bank using the police report.
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