Scams are an ever-present danger, particularly in California, where various fraudulent schemes are on the rise. One alarming trend is the “pig butchering” scam, which has devastating consequences for victims, sometimes leading to tragic outcomes.
Understanding the Pig Butchering Scam
The term “pig butchering” refers to a method where scammers build a relationship with their victims over time, often through social media or dating apps. They gradually encourage victims to invest significant amounts of money into cryptocurrency or other financial schemes.
In one recent case from San José, a 66-year-old man lost $170,000 after being coerced into investing with promises of high returns. The situation escalated when the scammers demanded an additional $348,000 for supposed overseas taxes, prompting the victim to alert authorities before it was too late.
How It Works
Initial Contact: Scammers often initiate contact through social media platforms, posing as friendly acquaintances or romantic interests.
Building Trust: They create a narrative that involves family members or friends who are “experts” in investment, further convincing the victim of the legitimacy of their claims…