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Ohio Woman loses $500,000 in Social Security scam

A woman in Ohio lost $500,000 due to a Social Security scam.

By Newsd
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Woman loses $500,000 in Social Security scam
Source: IndiaToday

Woman loses $500,000 in Social Security scam: One Ohio victim lost $500,000. Someone stole the funds through a Social Security fraud.

Homeowner Lori English in Licking County lost $500,000 after falling for a phone scammer’s threats of legal action if she didn’t pay.

English, who retired after 40 years, says she needs a new job.

“My every dream has vanished.” English reported to NBC 4, “We have lost everything.”

On March 1, 2023, the fraudster who called English presented themselves as the Social Security Administration via caller ID. English also confirmed that federal agencies transferred her, linking her Social Security number to drug trafficking and money laundering.

“He was extremely slick; the individual I had daily conversations with had answers to everything and was so seamless that I had no doubt he was who he claimed to be.” “English commented, “I answered all questions without hesitation and knew my obligations.”

English rushed to offer information to clear her name, afraid that someone was exploiting her identity to do these murders.

For the con artists to buy gold, she revealed her retirement and financial information. They instructed her not to discuss the incident with anyone.

“He has sucked me in and scared me so much that I am going to go to prison, and he kept telling me things to enforce that, but yet, Lori, it’s okay, we have you,” said. “I’ve had people say to me that’s not going to happen, people aren’t going to do that legitimately, and I say until you’re in my shoes you can’t judge.”

Two people broke into English’s home and took the gold from her palms, according to the local broadcaster. This distinguishes the English fraud case from Social Security scams.

“I am not aware of any other instance in which con artists entered your home through your living room and stole your belongings,” said Licking County Sheriff’s Office Detective Sergeant Justin Woodyard. “This case is very unique because I don’t think I’ve ever heard of such a thing.”

Authorities have yet to identify or hold responsible two of the English con artists. Additionally, Oklahoma apprehended Tuan Hung Van and Justin T. Cao and sentenced them to two-year prison terms in connection with a more extensive criminal enterprise.

“I do not wish for others to be forced to endure this.” “It was a lengthy, terrifying process,” English explained. “Moreover, everything was taken from me.” I wish to teach others about these surgeries, what happens, and what to do in my situation.

Bentley University professor of white-collar crime and attorney Steve Weisman says impostor schemes are the most common sort of fraud, where con artists impersonate government organizations or corporations.

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Typically, scammers instruct victims to promptly transmit credit card, gift card, or wire transfer information.

“These benefits constitute a substantial portion of the retirement income for many,” Dan Barta, principal enterprise fraud and financial crimes consultant at SAS, told Newsweek. “Losing or experiencing a delay in receiving them can affect their living situation significantly.” “The sense of urgency diverts the victim’s attention from contemplating the situation before they take action.”

Nonetheless, there are preliminary indications that you may be falling victim to a fraudulent scheme.

He said, “Asking to pay by a gift card is a definite indication that the call is a scam since no governmental agency requests or accepts payments by gift cards. “If the victim gives the false government representative sensitive information like their Social Security number, identity theft occurs.”

The caller ID can fool you into thinking the call is from a legitimate company, which is concerning.

“Through a simple technique called ‘spoofing’ a scammer can manipulate your caller ID to make his call appear to come from whomever and whatever number he wants,” said.

“In actuality, it is not the case that any federal agency, including the IRS and Social Security Administration, will initiate contact with you via telephone, nor will they issue an arrest warrant for failure to remit payment of a claim.” Many are unaware that government services don’t accept bitcoin or gift cards.

Due of their large funds, seniors are a “tempting target” for con artists, according to Weisman.

Weisman said, “Seniors can suffer severe financial and emotional losses as a result of these scams,” implying psychological manipulation.

“It is also vital to note that these fraudulent schemes, similar to numerous others, use the amygdala, popularly known as the “lizard brain.” This brain area reacts to emergencies based on dread and urgency without logic. Con artists use fear and contrived emergencies to manipulate others. It is challenging, but awareness makes it easier.”

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