Multi-Agency Sting Busts Elderly Investment Scam
A multi-agency investigation uncovered a complex fraud scheme that targeted elderly victims under the guise of investment assistance, local authorities announced last week.
A multi-agency investigation uncovered a complex fraud scheme that targeted elderly victims under the guise of investment assistance, local authorities announced last week.
Investigators from the Geauga County Sheriff’s Office, Chester Township Police Department, U.S. Immigration and Customs Enforcement’s Homeland Security Investigations and FBI task force officers coordinated a sting operation May 13 that resulted in the identification of two suspects — one Indian national and one Pakistani national — connected to a network exploiting seniors.
An elderly victim, of Chester Township, was asked by a perpetrator to invest in another form of currency that would be picked up by a courier, the Geauga County Sheriff’s Office said in a press release.
“Investigators were informed that the victim had already lost a significant amount of money and was being led to believe the perpetrator was aiding in her investments,” the GCSO said in the release. “Detectives then arranged to deliver the package to the courier and conduct surveillance on the suspects to identify all involved in this scheme.”
The GCSO knew the victim was meeting up with the perpetrator, Lt. James Jonovich said June 23.
“We generated, essentially a sting operation, a false pickup,” he said. “We waited for them to come pick up the fraudulent currency and we then followed them and took them down.”
The courier said a friend from Africa gave him directions and a location of where to pick up the package, the release said.
“The courier additionally informed detectives they picked up approximately $40,000 from an elderly male in Chicago and $3,000 of that money had been used to fund this trip (to Ohio),” the release said.
Investigators were able to seize the $37,000 from the courier’s apartment in Chicago, the GCSO said in the release.
Jonovich added Steven Deardowski — who has credentials with HSI — was the main detective on the case and was able to continue the investigation in Chicago.
“Through good investigative work and excellent interviewing … we were able to discover there (were) crimes occurring in other states,” Jonovich said.
Officials are urging the public to be cautious when approached with unsolicited financial offers, particularly those that originate online or involve unusual requests to transfer funds.
“If it sounds too good to be true, it is,” Jonovich said.
If a caller says, “Stay on the line with me as we do this,” “Let’s get it done right away,” or “You need to respond now,” those are red flags, he said, adding they should call local law enforcement if they think they are being scammed.
“We can generally tell very quickly with some of the databases we have when things are fraudulent,” Jonovich added.
The Pakistani national was arrested and is currently being held on an immigration violation, as his visa expired. The investigation is ongoing, officials said.
