An elderly Southern California couple may lose their longtime home after scammers posing as FBI agents stole nearly $1 million from them.
The couple was contacted in February of last year by scammers who claimed the pair needed to clear their names by converting their money into cryptocurrency so the funds could be traced by the FBI as a part of an investigation, reports KTLA.
The victims were presented with fake documents alleging that someone had stolen their identities and created fraudulent bank accounts with them. They were told they were considered suspects in the case.
The victims, believing they were speaking with legitimate federal agents, withdrew their retirement savings and took out loans before turning over about $850,000 over to the bad actors.
The scammers allegedly told the couple that digitizing the money would allow authorities to trace the origins of the funds and clear them in the investigation.
The couple ultimately converted the money into cryptocurrency and sent it to the scammers, who they believed were working with the federal government.
The report says the couple may now lose the home they have lived in for more than 37 years after losing their life savings in the scheme.
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