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07/27/2025
An $8.8M fraud ring targeting elderly busted after ‘suspicious’ banking led to multi-state probe — how they were caught
Yahoo News
A massive bank fraud operation that stole nearly $9 million from elderly Americans has been shut down, and it all unraveled because of one suspicious transfer. The $250,000 deposit into a newly opened account triggered red flags at Synchrony Bank in April 2023. When investigators followed the money, they uncovered a sprawling, multi-state fraud ring involving eight suspects, three bank employees, and 235 victims, reports WFTS in Tampa Bay.
“This wasn’t some small-time scam,” said Polk County Sheriff Grady Judd during a press conference announcing the arrests. “This was a well-organized fraud ring stealing millions from innocent victims across the country.”
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