From Newsgroup: soc.men

On 06 Mar 2022, Lefty Lundquist <lefty_lundquist@ggmail.com> posted some news:t0302b$98j$5@dont-email.me:

He's a Democrat, of course he's stupid.

She called herself Anna, and she reached out to Barry May over social
media.

oIt was on Facebook, was an Asian woman that supposedly lived in New York,
on Fifth Avenue,o he said. oAnd so we just started chatting.o

Soon, he said, Anna was sending explicit photos. May, a divorced and
retired insurance adjuster living in Mississippi, was smitten. She told
him they could be together, but first she needed a favor.

Her aunt, she said, was holding $3 million of her money. She needed May to invest in cryptocurrency, so her aunt owould release that money to her and then she could come to me and we could get married.o

It turned out May, 62, had gotten caught up in an increasingly common
internet scam u and also a new FBI initiative to protect people from
financial ruin.

Enticed by the prospect of romance and riches, coaxed over LinkedIn and WhatsApp, thousands of people have sent their hard-earned money overseas, never to be seen again.

The con is called pig butchering u so named because victims are likened to hogs, fattened up for slaughter.

oItAs a sophisticated con, and you can see that because itAs a long-term
con,o said James Barnacle, who runs the FBIAs Financial Crimes Section.

Barnacle said people from all walks of life have fallen victim to the
scam, which typically is run by organized criminal groups based in
Southeast Asia that often rely on workers who have been trafficked into
forced labor. The gangs carefully research their victims and spend months
or years gaining their trust. Often they allow victims to withdraw large
sums of money, to boost their confidence that the investment scheme is on
the level.

oIn 2023, we saw well over $3.5 billion of reported losses, and over
around 40,000 victims in the United States,o Barnacle said. oIAve seen [individual] losses well into the $2-, $3-, $4 million.o

oIt really is heartbreaking,o said Claudia Quiroz, who directs the Justice DepartmentAs Cryptocurrency Enforcement Unit. oPeople probably feel like
they are alone a how could they have fallen for this? a I would just say
to those individuals, youAre not alone. This is very prolific. Reach out
to law enforcement as soon as you can.o

Other victims interviewed by NBC News included a scientist and a chief financial officer, both of whom thought they had carefully researched the bogus crypto investment opportunities but were fooled by sophisticated
fake websites.

Most of the stolen money is never recovered. But recently, FBI
investigators have been trying stop the scam in progress, using
sophisticated cybertechniques to identify and warn victims before they
lose everything. They have even been able to seize and recover some of the stolen funds.

oWorking financial institutions, reviewing suspicious activity reports,
and reviewing complaint data a we are able to intervene in some cases and
have been able to contact victims and stop them from making further investments in these fraud schemes,o Barnacle said.

Fortunately for Barry May, the FBI phone call stopped him from going
deeper into debt.

oI was about to get a loan from my credit union, where I had good
standing. And they said, aDo not do that.Ao

But agents told him most of his money is gone for good.

oI got about $10,000 left to my name, and thatAs it,o May said. oMy
quality of life, you know, the things I wanted to do, itAs shot.o

Worse, he said through tears, he is now struggling to afford medicine for
his daughter, Bethany, who is disabled and lives with him.

oI lost a lot of sleep. The stress has hurt me physically. But IAve got to move on. I mean, I got a daughter to take care of. I canAt curl up on the table. I gotta keep all the fight. ThatAs all I can do.o

May offered this warning:

oJust be careful,o he said. oIf something is too good to be true, you
know, if some beautiful young woman is interested in an older man and,
aOh, you do this for me, and IAll do this for you,A you know? Run away. Because 99.9% of the time itAs gonna be a scam. And theyAre very, very,
very good.o

https://www.nbcnews.com/news/crime-courts/pig-butchering-scams-rise-fbi- moves-stop-bleeding-rcna137009
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