Author: Danielle Antosz

Phyllis Anderson knew something was off with her garage door. It had started making strange noises and sometimes stopped just short of closing completely. But, she never expected that fixing it would cost nearly $5,000.

“I’m stunned. I didn’t know what to think or what to do,” Anderson, 79, told AZFamily News.

“It’s like a panic situation for me because I have no other money coming in, and it hurts.”

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Anderson, who lives alone in Fountain Hills, Arizona, was left with an almost empty bank account after paying a $4,911.88 bill for what she thought was a standard garage door repair.

The fear she felt may be all too familiar to other older Americans — especially those on fixed incomes.

What happened?

When Anderson’s garage door finally gave out and slammed to the ground, she told AZFamily News that she contacted a company by the name of Garage Door and Gates Service. A technician told her two springs and two metal drums needed replacing — an urgent fix, he said, and one Anderson agreed to. But when the invoice came, she was stunned by the total: $4,911.88.

That number doesn’t add up, according to several garage repair companies interviewed by AZFamily News, who said the job should have cost between $300 and $700.

According to Angi (formerly Angie’s List), the average garage door repair costs just $263, with most homeowners paying between $155 and $378, depending on the door and damage. That makes Anderson’s nearly $5,000 bill a glaring outlier.

To make matters worse, Anderson felt intimidated into paying.

“I was cautious,” she said, admitting she felt too nervous to dispute the bill with the technician in her house.

When reporter Gary Harper called the repair company and asked for an explanation of the bill, a woman on the line said the company would call reporters back. But that call never came.

Harper helped Anderson call her bank and dispute the charges. Her bank has temporarily refunded the money while they investigate the dispute. For now, the cash is back in her account, but the emotional and financial stress lingers.

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How to avoid getting overcharged on repairs

Unfortunately, Anderson’s story isn’t unique. While contractors are generally honest, bad actors can exploit urgent repair needs, especially among elderly homeowners. The FBI warns that home repair scams are a common form of elder fraud, which affects millions of Americans each year.

Here are a few ways to help protect yourself or a loved one.

Research vendors before you call

Take the time to find a trustworthy contractor. Look for companies with strong reviews, check the Better Business Bureau and ask neighbors for referrals.

Ask about pricing upfront

Before any work begins, ask for a written estimate. Reputable companies will explain what parts are needed and how much they cost, so you won’t be hit with a surprise later.

Get multiple quotes

It’s always smart to call at least two or three companies, even if one is available sooner. A little extra time could save you hundreds — or thousands — of dollars.

Have a trusted friend or family member present

If you’re unsure about a contractor or worry you’ll feel pressured, have someone with you during the visit. It can help discourage upselling and make you feel more confident asking questions.

If you — or someone you care about — has been overcharged for home repairs, contact your bank immediately and consider filing a complaint with the state attorney general or consumer protection office.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

After almost a decade of fighting to stay in their Lynn, Massachusetts home, Joe and Kathy Cavaliere had given up hope. They faced foreclosure on their home of 24 years.

Just days away from being evicted, the couple, in their 80s, began packing their things.

“This has been the center of our family,” Kathy told WBZ-TV’s Cheryl Fiandaca. “All holidays, all get togethers. And it was going to be gone.”

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But thanks to Fiandaca’s last-minute intervention, the Cavalieres can stay put, and they own their home.

Here’s how they ended up in the dire situation in the first place.

An ‘insane’ mortgage model

The Cavalieres’ financial struggles began in 2006, when Joe, then in his 60s, took out a “pick-a-pay” mortgage from World Savings Bank.

The bank told him he could choose how much to pay each month. What he didn’t realize was that any unpaid interest on the mortgage would continue to compound. And it did — exponentially.

The couple’s lawyer Paul Collier describes the pick-and-pay mortgage model as “insane.”

“It was to get people lower on the economic scale to buy homes under predatory mortgages that would end up yielding profits to the lenders and, honestly, foreclosure to the borrowers,” he said.

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Joe ended up out of work for a while and they fell behind on mortgage payments. The couple sent $5,000 to the World Savings Bank to catch up on payments. Things went from bad to worse.

“They said they wanted the whole thing, which was somewhere around $400,000,” Joe recalls.

Then through a series of mergers, Wells Fargo took over the Cavalieres’ mortgage in 2008. The couple continued to struggle to keep up with payments until Wells Fargo foreclosed on their home.

At that point, Kathy reached out to WBZ-TV’s Call for Action team and reporter Cheryl Fiandaca successfully intervened on the Cavalieres’ behalf. Wells Fargo reversed the foreclosure and announced it would return the title of the home to the couple.

“We have been working with Mr. Cavaliere since 2011 to help him navigate this situation,” the bank told WBZ-TV. “We have been committed to finding a resolution and are pleased to have this resolved. Pick-a-pay loans were never offered by Wells Fargo.”

The couple — and their lawyer — were stunned at the turnaround.

“I don’t believe in miracles, but it felt like a miracle,” Collier.

Are pick-a-pay mortgages worth it?

Pick-a-pay mortgages (also known as payment-option mortgages) are a type of negative amortization loan where borrowers can pay less than the full monthly interest, allowing unpaid interest to be added to the loan balance.

Over time, the loan grows rather than shrinks, even when the borrower is making regular payments.

These loans were sold as flexible solutions for buyers who needed lower payments. However, they can quickly become unmanageable, especially when financial setbacks occur.

While pick-a-pay mortgages were popular during the early 2000s housing boom, they’ve largely disappeared due to legal challenges and tighter lending regulations. In 2010, Wells Fargo agreed to a $50-million settlement in a class-action lawsuit over these types of loans. The settlement did not include any admission of wrongdoing.

Pick-a-pay loans are inherently risky. If you’re offered a mortgage that allows negative amortization, think twice. These loans often mask the true cost of borrowing and can leave homeowners under water, even after years of payments. Make sure you get the best mortgage rate you can.

If you’re struggling to keep up with mortgage payments, contact your lender as soon as possible. Your lender may be able to help you modify your loan or agree to temporarily stop payments through mortgage forbearance. You may also want to consider debt consolidation.

Thanks to persistence and a little help from investigative journalists, the Cavalieres can finally rest easy — but not every family is so lucky.

Before signing a mortgage, make sure you fully understand the terms and risks.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

A scammer pretending to be a construction vendor tricked the Citrus County School Board in Inverness, Florida, into sending more than $800,000 to the wrong bank account. The fraud wasn’t discovered until the real vendor called to say they hadn’t received their payment.

According to the Citrus County Sheriff’s Office, $846,864.86 was intended for a trusted vendor who was working on a construction project for the school district. However, the money was wired to a fraudster’s account after they sent a fake—but convincing—email that resembled the vendor’s usual messages.

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“This was an email from someone pretending to be the vendor that looked exactly like what the vendor would’ve sent,” said Dr. Scott Hebert, Superintendent of Schools, in an interview with WFLA.

How the scam worked

According to the Citrus County Sheriff’s Office, the fraudster copied the vendor’s email address and made it look nearly identical to the real one. They also included a fake bank account number for payment. The scam worked because the email was so well-crafted that it didn’t raise immediate red flags.

“A malicious actor will come in and change one or two characteristics of a URL address or an email link—something that doesn’t totally appear correct,” said Detective Cutlip with the CCSO High-Tech Crimes Unit. “At first glance, if you’re having correspondence, you wouldn’t pick up all those changes.”

Once school officials realized what had happened, they immediately contacted law enforcement. The sheriff’s office worked with the U.S. Secret Service to track the money, which had already been split between two bank accounts outside of Florida.

Thanks to that quick response, investigators were able to freeze and recover about 92% of the funds—roughly $779,600. More than $67,000 was still missing, and the investigation remains ongoing.

In the wake of the scam, the Citrus County School District is implementing new safety measures. Dr. Hebert said all district employees are getting extra cybersecurity training, and new protocols are being developed to help staff detect and respond to cyber threats in the future.

“Disciplinary action will occur,” Hebert told WFLA. “Those folks that were involved… will be held accountable for not following any of the procedures that we had in place.”

Depending on the findings of an internal investigation, that discipline could range from further training to suspension or termination.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

How to protect yourself or your business from phishing scams

This type of scam, often called business email compromise or phishing, is becoming increasingly common. To avoid falling victim to these scams, here are a few steps you can take:

Double-check email addresses

Scammers often change just one character in an email to make it look real. For example, "gadams[at]adamsconstruction.com" might become "gadams[at]adamsconstructi0n.com."

Verify payment information before you hit ‘send’

If a vendor emails new bank details or says their payment info has changed, call them using a known phone number—not one listed in the email—to confirm.

Be cautious about any last-minute changes

If someone suddenly requests changes to a scheduled payment, closing date, or account number, take extra steps to verify that the changes are legitimate. It’s always better to take a few extra minutes to verify then to fall victim to a scam.

Train your team

Make sure everyone who handles money or emails with vendors knows what phishing scams look like and how to report them. This includes following the steps listed here and knowing not to click on links or download files from unknown sources.

Contact law enforcement immediately if you suspect fraud

One reason the school board was able to get most of the money back was because they reported the scam right away. The sooner you act, the better your chances of recovering lost funds.

As this case shows, even experienced professionals can fall for a scam when the attack is sophisticated. But by staying alert and putting clear procedures in place, businesses and individuals can better protect themselves from financial fraud.

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A 38-year-old father is navigating an all-too-common balancing act of full-time work, single parenting and, now, caregiving for his mother.

After a fall and early signs of dementia, his 73-year-old mom moved in. While he’s not in a financial crisis, the pressure is mounting. Between work, caring for his 6-year-old son and supporting his mom, he’s not sure how he’ll manage the situation.

On the financial side, he has to decide whether he should rent or sell his mom’s vacant condo. And emotionally, he needs advice on how to set boundaries with his mother without feeling guilty. He’s also feeling isolated as most of his friends aren’t in his situation, yet.

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His story isn’t unique. According to the Pew Research Center, a third of all Americans — and half of Americans in their 40s — are finding themselves part of the “sandwich generation” that cares for both children and parents at the same time.

Here’s what to know if you’re in a similar spot.

Find support for aging parents

Caring for a parent with early-stage dementia can be overwhelming — but you don’t have to figure it out alone. The first step is to tap into local, state and federal resources that can help reduce both your workload and out-of-pocket costs.

Start by contacting your local Area Agency on Aging (AAA). Every state has one, and these agencies can help you build a care plan, connect you with adult day programs and explain what in-home services might be available. You can search for yours at Eldercare.acl.gov or by calling 1-800-677-1116.

Next, research Medicaid and Medicare programs. (Medicare helps aging Americans while Medicaid helps low-income Americans — your parents may be eligible for one or both.)

The Medicaid waiver program, for example, can help cover in-home care costs. Some of these programs even allow family members to be compensated for caregiving, which could help if you decide to reduce your hours or shift your work schedule in the future. Searching "Medicaid waiver programs [your state]" should point you in the right direction.

If you’re considering selling or renting your mom’s vacant condo to fund care, consult with an elder law attorney first. Medicaid has strict rules about assets and income, and the timing of a sale could affect eligibility and costs. An attorney can also help with important legal documents, like advance care directives or a power of attorney — both crucial while your mom is still in the early stages of cognitive decline.

Finally, organizations like the Alzheimer’s Association and AARP offer free resources, like caregiver support groups, toolkits and financial guides, that can help you understand what to expect as your mom’s needs evolve. These resources can help you connect with others in similar situations — and remind you that you’re not alone.

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Shore up your finances

As a caregiver and a parent, it’s easy to put yourself last. But just like on a plane, where we’re directed to put on our own oxygen mask before assisting others, protecting your financial stability is key. It’s not just for your own future, but also for your ability to keep supporting your family.

Track what you’re spending

Start by building a simple monthly budget that reflects your new reality. Include fixed expenses (like your mortgage), flexible spending (like groceries) and expected caregiving costs. Track these for a few months to get a clear picture of where you may need to adjust.

Build an emergency fund

Try to build your emergency fund slowly and consistently. The standard recommendation is saving three to six months of expenses — but your needs may be more depending on your caregiving responsibilities. Even setting aside $50 a month can help you weather unexpected costs without draining savings. If your mom’s condo eventually generates rental income, consider earmarking part of that toward this fund.

Look for tax breaks that can ease the financial burden

The IRS may allow you to claim your parent as a dependent if you provide more than half of their financial support, and you might also qualify for the Child and Dependent Care Credit if you’re paying for adult day services. A tax professional can help you find benefits you might be eligible for.

Look for financial planning support

When it comes to long-term planning, remember that you don’t have to do it alone. A fee-only financial advisor or a local nonprofit that offers free financial counseling can help you weigh the pros and cons of selling assets, applying for Medicaid and balancing short-term expenses with retirement savings.

Remember, protecting your financial and mental health is not selfish — it’s essential. Communicate clearly with other family members (if any are involved), and don’t be afraid to ask for help or delegate responsibilities. Caregiving is a marathon, not a sprint, so try to build a plan that works for everyone — including you.

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When Reggie Van Lee’s great-grandmother, a Black woman, bought a plot of land near Houston in 1899, she likely couldn’t have imagined the home that would sit on it.

In 2012, Lee, a Harvard graduate, former Alvin Ailey dancer and current Houston Consulting Executive, built a massive 20,000-square-foot house on the plot of land with a great room, beauty salon, chapel and even a helicopter pad.

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But the home isn’t just for him — today. He lives there with his three sisters and even some of their spouses. Lee thinks togetherness is important, especially during a time when so much is uncertain.

"I built this house not just for my immediate family, but for my extended family, including friends," Lee explained to Fox 26 News reporter Damali Keith.

Can several generations and members of the family live together in harmony?

How do they all get along?

Lee said the house is large enough to have space for everyone to spread out and get together when they want. The master suite, for example, is on a separate side of the house.

"The house is large enough, so when you really want to be by yourself, you can. When you want to be with others, you can as well,” Lee said. “Having dinners together, family dinners together. It’s just amazing."

The home is large, but Lee added that they all use the space. Last year, they hosted a 300-person wedding for his now 77-year-old sister, who was getting remarried. They also hosted a party to commemorate the 125th anniversary of his great-grandmother purchasing the land.

But what happens to the family home when Lee is gone? He hopes it will stay in the family and has made provisions in his will to keep it as a family home or donate the home and the property.

"I want very much for this land and this house to stay in the family. In my will, it says if no family member lives in the house, the house actually goes to the Texas Historical Society. It’s not going to be a situation where Uncle Reggie dies, they sell everything, and split the money,” Lee said. “Especially in these times where there are so many forces of evil against us as people and against people coming together in love as opposed to being divisive, I think families should be the ones to send that message of togetherness."

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Should more Americans live with extended families?

According to 2022 U.S. Census, approximately 4.8 million households in the country are multigenerational, meaning they include at least three generations living together. While data on extended family households — those with aunts, uncles or cousins — is harder to track in the U.S. But it’s certainly commonplace in other parts of the world.

A Pew Research study reported that extended family households are the most common type of households worldwide, with 38% of people living with extended family. Nearly half of people in the Asia-Pacific area live with extended family, while only 11% of North Americans do.

But should multigenerational and extended family living be more common in the U.S.? Beyond emotional benefits, this arrangement offers practical and financial advantages.

Rising home prices make it a smart financial move

Housing costs in the US. are skyrocketing. According to Zillow, the average home price is now over $355,000 — an increase of 2.7% from last year. Living with extended family can help households share expenses and reduce financial stress. Additionally, purchasing a home rather than Purchasing a home, rather than renting, can also help families build generational wealth.

More child and elder care options

Childcare is one of the biggest expenses for American families. According to ChildCare Aware, a nonprofit supporting the U.S. childcare system, the average annual cost of childcare in 2023 was $11,582. For families with multiple children, this expense can exceed the annual earnings of one parent.

Elder care is similarly costly. A home health aide averages $6,292 per month, making in-home care financially challenging for many families. Living with extended family provides an alternative to expensive childcare or elder care while fostering a stronger family support system.

Improved financial security

Pooling resources in a multigenerational household can provide a financial cushion. With multiple incomes contributing to household expenses, families may be able to pay off debt, save more or invest more in long-term financial goals. This setup also offers stability during financial hardships, such as job losses or unexpected home repairs.

As more families face financial uncertainty and work-life balance challenges, multigenerational living may grow in popularity. For people like Lee, it’s not just a practical choice — it’s about preserving family bonds and creating a lasting legacy.

"At the end of the day, all we really have is family,” Lee said. “Too many people — Black people in particular — have given up family land."

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Retired veteran David Alvarado thought he’d found the perfect place to build a new family home in Port St. Lucie, Florida. In 2023, he hired a builder to do just that.

But all he got from Mark Montalto of Port St. Lucie Properties was an empty lot and a $19,000 lien from a landscaping company that said Montalto never paid them.

“It’s been traumatic, to say the least,” Alvarado told WPTV.

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Alvarado not only had to pay off the lien but hire a new builder — all while suing Montalto. Between the lien, legal fees, rental housing and the new contractor, he says he spent $150,000 extra.

“It’s just gut-wrenching,” he said. “I know people know what I’m referring to when you feel that pit in your stomach. It’s just hollow.”

WPTV reports that Alvarado is one of at least 19 people who have filed suits against Montalto in St. Lucie Court.

In April, the builder was arrested for construction fraud, including 17 charges of grand theft and four counts of theft from people 65 and older.

If convicted, Montalto, 61, could be sentenced to over 100 years in jail. But Alvarado fears the builder’s victims will never get their money back; Montalto filed for bankruptcy last month.

Justice is hard to come by

Dorothy Calixte and her husband are among those suing Montalto. She told WPRV they had to pay $90,000 in liens to finish their dream home and take out a mortgage at a higher rate.

She also had to get a second job to pay down the debt.

“You shouldn’t have to live like that, and you don’t even have time to enjoy the dream home that you wanted,” she said.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

There is some recourse for homeowners like Alvarado and Calixte who are trying to recover money they lost to builders who don’t fulfill their contracts and have declared bankruptcy. One option is the Florida Construction Industry Recovery Fund.

The maximum award a Florida homeowner can recover from this fund has traditionally been $50,000 per claim.

But that’s just been raised to $100,000 for claims on homebuilding contracts signed after Jan. 1, 2025.

How to protect yourself from shady contractors

There’s no foolproof way to prevent contractor fraud — but you can take several steps to lower your risk:

• Research the contractor’s background. Look up licensing status and check for complaints or lawsuits on your state’s contractor licensing board and county court websites.
• Get everything in writing. A clear, detailed contract can help protect you if something goes wrong.
• Request lien waivers. This helps ensure subcontractors are paid and reduces the chance they’ll file liens against your property.
• Watch for red flags. Frequent delays, evasive answers about payments, and requests for large upfront deposits can all be signs of trouble.

If you find yourself in a similar situation, taking action is crucial to protecting yourself. While laws and regulations vary by jurisdiction, here are a few steps to consider:

• File a complaint with the state licensing board and your local consumer protection office.
• Dispute wrongful liens in court if you believe they’re invalid or were filed in error.
• Hire an attorney to explore your legal options, including suing the builder or filing a claim in bankruptcy court.
• Apply to your state’s Contractor Recovery Fund (also known as a Homeowner’s Recovery Fund) if the contractor was licensed and your case qualifies.

For Alvarado and others like him, justice may still be far off. But the arrest of Montalto is, at the very least, a step in the right direction.

“Thank God,” said Calixte, after learning of Montalto’s arrest. “That’s all I ask for. At this point, I need justice.”

What to read next

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

A group of international gamblers legally purchased nearly every number combination in a Texas state lottery drawing — a scheme designed to guarantee a win. It worked — and it may be why another woman is now being denied her own $83.5 million prize.

“I’m being treated as the bad guy,” the anonymous winner said.

The group’s $95 million win, which the New York Post described as “something out of a heist movie,” was spearheaded by London-based trader Bernard Marantelli and bankrolled by Zeljko Ranogajec, an Australian professional gambler known as “the Joker.”

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Together, they exploited a simple math trick: when the jackpot is large enough, you can make a profit by buying almost every possible ticket. According to the Wall Street Journal, the group teamed up with Lottery.com and used warehouses packed with printing terminals to produce 99.3% of those combinations in just three days.

The team won a lump-sum prize of $57.8 million, but lottery officials are closing loopholes so that they may keep other winners from collecting.

International scheme could cost another winner their jackpot

Buying every ticket wasn’t illegal under Texas Lottery Commission (TLC) rules at the time. As the Post reports, “nothing in the Texas state lottery code says a person can’t buy every number combination.”

Winners are also allowed to remain anonymous, so the group initially claimed their prize through a local company called Rook TX. But the victory didn’t stay quiet for long.

When a Texas woman won an $83.5 million jackpot this past February, after buying her ticket through the Jackpocket app, she was told she couldn’t collect her winnings. State officials are now cracking down on anything that falls outside of tightly controlled, in-person lottery purchases — especially when foreign actors are involved or the ticket-buying process becomes hard to regulate.

“Sometimes there are reasons to investigate things, but I don’t think mine is one of them.” the anonymous winner told Nexstar, speaking on condition of anonymity.

Dawn Nettles, a longtime lottery watchdog, disagrees.

“It doesn’t matter that the courier apps weren’t officially banned in Texas when she bought her ticket, because she purchased it over the internet and paid an added fee — and those things are against the law,” she told the Post.

Even so, Nettles admits that others have gotten away with similar purchases in the past. She is now part of a class action lawsuit targeting the original $95 million payout to Rook TX and says that it should never have been allowed.

Texas Lt. Gov. Dan Patrick has called the team’s win “the biggest theft from the people of Texas in the history of Texas,” reports the Post. Others have raised concerns that international groups are siphoning off winnings that should benefit Texas residents.

“If you win $50 million in the lottery, you are probably going to buy a new car, new home, buy things for friends — all that is going to assist [the state’s] economy. But not if the money is leaving the state,” said Nettles.

The TLC formally banned lottery courier services in February 2025. In a press release, the commission said it would revoke the licenses of any retailer working with such services. The new policy became effective immediately and is expected to be written into official rules this spring.

At the governor’s request, the Texas Rangers have launched an investigation into both the 2023 group win and the February 2025 case.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

How to play the lottery legally

If you’re trying your luck with the lottery, make sure you follow Texas law to avoid trouble, especially now that enforcement is tightening. Here are a few guidelines:

• Buy in person. Texas law prohibits the sale of lottery tickets by mail, phone or internet. You must buy tickets from a licensed retailer within the state.
• Avoid courier apps. As of February 2025, services like Jackpocket are no longer permitted in Texas. Even if they’re still operating, your ticket may not be valid.
• Read the rules. Each state has different regulations. Before purchasing a ticket, check with your state’s lottery commission for the latest guidelines.
• Keep your receipt. Whether claiming a prize or disputing a decision, having proof of your purchase can help your case.

With rule changes underway, lottery players should take care to avoid any missteps. That means you’ll need to play the lottery in both the letter and the spirit of the law.

What to read next

• Don’t have the cash to pay Uncle Sam in 2025? You may already be eligible for a ‘streamlined’ handshake with the IRS — here’s how it works and how it can potentially save you thousands
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

In just the first four months of 2025, people in Prince George’s County, Maryland, have lost at least $1 million to scams, according to police.

One person lost $700,000. Another area resident lost $40,000 after being tricked by fraudsters who posed variously as a Microsoft tech support agent, a rep from his bank and even a federal agent.

“I was dealing with people I would call evil geniuses,” he told WTOP, asking not to be named. “At the time, I thought I was actually safeguarding the money.”

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While he may not get his $40,000 back, he’s sharing his story in the hope that he can protect other people from falling for the same con.

Rehearsed responses and fake credentials

It started when the man saw a pop-up on his computer saying his computer had been hacked. The pop-up message included a phone number to call for tech support.

He called the number and was soon speaking with someone he thought was a Microsoft employee. He was then transferred to a woman who claimed to be from his bank. Then he was connected with another person impersonating a federal official.

Despite his skepticism, each of the imposters had rehearsed responses and fake credentials.

He recalled actually saying to one of them, “This is exactly what a scammer would do.”

“But something about her polished rhetoric came back and convinced me otherwise,” he said.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

The scammers warned him not to use his phone, laptop, or email, claiming that all his devices were compromised. He was told not to speak to friends or even Google the word ‘scams’— as that could be a red flag.

Believing his accounts were at risk, he handed over $40,000 to someone he thought was a legitimate carrier. That’s when the Prince George’s County Police Department stepped in.

So when Gyoung Lee, 47, of Flushing, New York, arrived at the victim’s home expecting more cash, officers with the Financial Crimes Unit (FCU) arrested him on the scene.

Officers also arrested Parmveer Parmveer, 25, of Grove City, Ohio, in connection with the case involving a $700,000 loss.

Sgt. John Quarless of the Prince George’s County FCU said it’s important for victims not to be embarrassed because these kinds of tech scams are so common.

“What I encourage, no matter how much information you have, is to call the police and report it,” he told WTOP. “Let us do our due diligence.”

The tech scam and red flags

According to the FBI’s Internet Crime Complaint Center (IC3), Americans lost $1.4 billion to tech support scams in 2024, with more than 36,000 reported incidents.

While most victims of such scams are over 60, scammers target people of all backgrounds: young and old, rich and poor, highly educated or not.

What is consistent is the con artists’ approach.

“They’re going to create a sense of urgency, a sense of privacy and don’t want you to talk to anybody about it,” Sgt. Quarless said.

It’s how scammers gain control. Don’t let them. Here are red flags to watch out for.

A sense of urgency

Scammers often claim your money is in immediate danger or your account has been compromised. They’ll push you to act fast, hoping you don’t slow down and think it through. Don’t fall for it. Instead, hang up the phone and talk to someone you trust. Visit the bank in person if you’re worried about calling in.

Isolation tactics

Victims are frequently told not to talk to anyone — not friends, not family, not even their bank. That’s a major red flag. They’re worried that if you ask for help, someone will stop their scam in its tracks. Instead, make sure you ask for help. Talk to a trusted friend, financial advisor, or bank employee.

Demands for untraceable payments

Any request for money through cash couriers, wire transfers, crypto or gift cards is a giveaway. Real businesses and agencies don’t work this way. Never send money to someone you don’t know through these methods.

Offering to protect your money

Federal regulations already protect most bank accounts. Pulling the money from your account won’t protect it in most cases. If someone offers to protect your money from a scam, there’s an excellent chance they are the scammers. They’ll say you’re moving the money to a ‘safe account,’ but that account belongs to them.

If you’re being scammed, officials recommend slowing down, hanging up the phone and calling your bank. Look on the back of your debit or credit card for the legitimate customer service number; don’t trust online pop-up ads.

Many victims stay silent, feeling ashamed that they were fooled. But speaking up like this victim did helps law enforcement track down suspects and potentially warn others before they’re targeted.

What to read next

• Don’t have the cash to pay Uncle Sam in 2025? You may already be eligible for a ‘streamlined’ handshake with the IRS — here’s how it works and how it can potentially save you thousands
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.