– Elder scam increase warnings
– Elder financial exploitation risks.
Accident – Death – Obituary News :
HOUSTON, Texas (KBTX) – The FBI Houston Field Office is issuing a stark warning to the public regarding the surge in elder scams, which have become a major cause for concern in recent times.
According to a recent report, the incidence of elder scams has skyrocketed by over 400% since 2021, resulting in a staggering loss of $1.2 billion in 2023. Christina Garza, the Public Affairs Officer, emphasized the urgency of the situation, urging people to remain vigilant.
Garza expressed, “Regrettably, we at the FBI view elder fraud as a significant epidemic, given the diverse range of fraudulent activities we are witnessing, all of which continue to escalate every year. Individuals are not only losing their life savings but also their retirement funds. Many are even forced to remortgage their homes to cope with the scams, extortion, and manipulation that accompany these crimes.”
A recent case highlighted by the Southern District of Texas involved the FBI Bryan Field Office leading an investigation that resulted in the arrest of five individuals. These perpetrators defrauded a 92-year-old veteran out of $300,000, promising returns of $13 million.
Beyond the financial implications, two of the suspects arrested are alleged to have misused the funds for personal gain, including using the victim’s money as a salary and manipulating the victim’s power of attorney to create a do-not-resuscitate order. Garza noted that scams targeting the elderly often involve elements of control and the establishment of relationships that enable criminals to obtain sensitive personal information.
“This is a common tactic employed by scammers. They invest time and effort into building a rapport of trust with their victims, particularly in romance and investment scams. These relationships are carefully nurtured, rather than abruptly appearing out of nowhere,” she explained.
Garza advised individuals who suspect they are being targeted by scammers to immediately contact their financial institution to block any potential payments and then notify law enforcement.
The following press release was issued by the U.S. Attorney’s Office Southern District of Texas:
Five Arrested for Alleged Elder Fraud Scheme Targeting WWII Veteran
Five individuals have been taken into custody following accusations of defrauding a 90-year-old World War II veteran of over $300,000 in retirement funds, as announced by U.S. Attorney Alamdar S. Hamdani.
The arrested individuals – Lenel Hopkins, Antoinette Monique Hopkins, Alichia Webster, Neil John Halvorson, and Victor Evans Jr. – along with their company Ternion Group International LLC, also known as Ternion Training and Education Center Corporation, are facing charges of conspiracy to commit wire fraud and wire fraud.
The indictment alleges that Ternion falsely presented itself as a Christian company engaged in international investment activities, claiming to undertake construction projects and provide job training for believers. In exchange for substantial investment deposits into Ternion, the company promised investors high financial returns and ownership stakes in local development projects.
Investors were encouraged to become “hubs” affiliated with Ternion, with their addresses listed as the physical locations of Ternion entities. Despite making monetary payments, investors allegedly received no returns as promised by the accused.
The indictment further details how the defendants persuaded the elderly veteran to form a hub under Ternion, assuring him of a $13 million return on a $300,000 investment. The funds were purportedly intended for the construction of a vocational school and the purchase of 100 homes.
According to the charges, one of the suspects received a salary from the victim’s transferred retirement account, while another allegedly coerced the victim into creating a new will granting successor rights and power of attorney to manage the victim’s assets, including a do-not-resuscitate order.
The victim, who invested $300,000, has reportedly not received any returns or communication from Ternion since 2020. Furthermore, the location identified for the proposed project is privately owned and not available for sale, according to the allegations.
If convicted, each defendant could face up to 20 years in federal prison and a maximum fine of $250,000 for each count. The FBI conducted the investigation, with Assistant U.S. Attorney Adam Laurence Goldman handling prosecution.
This case is part of the Elder Justice Initiative, which aims to combat elder abuse, neglect, and financial fraud targeting older adults through coordinated enforcement and programmatic efforts by the Department of Justice.
An indictment serves as a formal accusation of criminal conduct and not as evidence. Defendants are presumed innocent unless proven guilty through due legal process.
.
“FBI warns of significant rise in elder scams”
“FBI alerts public to surge in elder scam cases”.
