Bud and Charlotte Cawyer are an elderly couple in East Texas who lost their life savings to crypto scammers posing as federal agents. Bud is 80 while Charlotte is 74; the couple was planning to spend their 40th wedding anniversary in peace and harmony before the incident deprived them of all their wealth and security.

A fake agent who claimed to be a representative from the Social Security Administration approached the couple with very bad news. He told the victims that the social security number of Charlotte Cawyer has been stolen and used for stealing $3.5 million. The scammer convinced the victims that they are proven innocent until the real culprit is caught, but they would have to transfer their savings into a protected account.

Victims were Threatened with legal Persecution

According to the law enforcement agencies like the FBI, Social Services, Postal Inspection, and US Attorney Office, these types of scams are increasing like wildfire. Many vulnerable couples in the place are unfamiliar with the way that Bitcoin operates. On the other hand, scammers are also getting more sophisticated, and they put a lot of effort into convincing their victims.

Bud and Charlotte were shown a photo of the law enforcement badge that could have been photoshopped easily. On the other hand, the fake federal agent also showed them forged U.S. Treasury checks that were made out to their names. The scammers convinced the elderly couple with the forged checks that their money would be returned once the investigation is over. According to Bud, they were also threatened with legal consequences if they fail to cooperate with the scammers.

The scammer running this scheme was very good at convincing the elderly couple that the Federal intelligence agencies were investigating them. The fake agent makes Charlotte text him every hour to ensure perfect submission. She told police later that she sent 360 texts in a matter of six days. When the couple withdrew a large sum of money from their bank accounts, the bank manager asked them why they were making such large withdrawals.

Out of fear, the couple reiterated that it was for investments as the scammer has instructed them. The scammer also told them to keep their phone on so they can hear the conversation with the bank manager. In the end, Cawyers were instructed to transfer their life saving into a Bitcoin ATM at Tyler Gas Station, and after that, the scammers took off.