Scammers exploit the vulnerability to trick victims into investing in fraudulent schemes.
A 75-year-old professional from the Midwest suffered a months-long ordeal after innocently connecting with a seemingly kind woman on LinkedIn. Little did he know that this initial contact led to a sophisticated scam that devastated his retirement fund and pushed him over the edge, as reported by Wall Street Journal.
Nicknamed “pig slaughter,” this scam involves Internet con artists who lure victims, gain their trust, and then trick them into investing in fraudulent schemes. Once they get the money, the scammers disappear, leaving their victims devastated.
O WSJ conducted a thorough investigation, examining thousands of messages, financial records and images exchanged between the man and the scammer. His findings exposed the disturbing tactics used to manipulate vulnerable individuals, especially the elderly and those less familiar with technology.
The victim, who wished to remain anonymous, suffered a devastating loss of nearly $715,000, virtually destroying his life savings. Despite his immense hardships, he courageously shared his story in hopes of preventing others from falling victim to similar scams.
In her case, the scammer posed as a woman named “Violaine Chen,” a supposedly 37-year-old Chinese divorcee, luring the victim with promises of a shared future. Despite warnings from his bank and suspicious messages, he trusted Violaine and invested more than US$300,000. When he tried to withdraw the money, he was met with demands for exorbitant fees to unfreeze his account, resulting in a surprising loss.
Although he reported the scam to the FBI, he did not receive updates on his case. As Violaine ceased communication and sporadically requested more money, the victim faced the painful realization of having been deceived, struggling to come to terms with the betrayal and the frightening prospect of rebuilding her life from scratch.
This story originally appeared on Ndtv.com read the full story
