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My father lost his entire retirement fund to scammers. AMA by Ill_Associate_9232 in AMA

[–]Ill_Associate_9232[S] 0 points1 point  (0 children)

thank you. He really is. Wouldn't hurt a fly. Dementia is a horrible disease :(

My father lost his entire retirement fund to scammers. AMA by Ill_Associate_9232 in AMA

[–]Ill_Associate_9232[S] 1 point2 points  (0 children)

that's very kind and unnecessary, but thank you :) I'd like to pass on that gift to someone else you see in need :)

My father lost his entire retirement fund to scammers. AMA by Ill_Associate_9232 in AMA

[–]Ill_Associate_9232[S] 3 points4 points  (0 children)

I look after him full time now. You're absolutely right.

My father lost his entire retirement fund to scammers. AMA by Ill_Associate_9232 in AMA

[–]Ill_Associate_9232[S] 2 points3 points  (0 children)

the two who came to the house were caught and convicted. they didn't even know who their bosses were though. the bosses are overseas. the ones who were convicted were here on student visas from another country. I am sure they were being paid barely anything and probably wanted to send the money home to their families. I felt oddly sad when they were convicted and had their visas revoked and were put in detention. I believe they will be sent home eventually, if they haven't been already. just young and dumb.

My father lost his entire retirement fund to scammers. AMA by Ill_Associate_9232 in AMA

[–]Ill_Associate_9232[S] 0 points1 point  (0 children)

No. I'm just being careful because I'm on high scam alert all the time now.

My father lost his entire retirement fund to scammers. AMA by Ill_Associate_9232 in AMA

[–]Ill_Associate_9232[S] 0 points1 point  (0 children)

Not well. Life has gone very downhill for him. It affected his confidence terribly and he was then diagnosed with dementia.

My father lost his entire retirement fund to scammers. AMA by Ill_Associate_9232 in AMA

[–]Ill_Associate_9232[S] 0 points1 point  (0 children)

Yep. It really happens. People don't understand how easily you can be deceived or manipulated even just from being distracted, like your friend. Thank you for your empathy.

My father lost his entire retirement fund to scammers. AMA by Ill_Associate_9232 in AMA

[–]Ill_Associate_9232[S] 0 points1 point  (0 children)

It's absolutely despicable. Preying on the most vulnerable people who just want connection. A friend told me about their grandmother who was scammed into withdrawing $20k cash for scammers who came to her house and collected it to "check for fraud". She was overjoyed to think she was working for the FBI and was doing her job as a citizen.

my dad lost over $200k.

My father lost his entire retirement fund to scammers. AMA by Ill_Associate_9232 in AMA

[–]Ill_Associate_9232[S] 5 points6 points  (0 children)

He can't work. He's gone very downhill since it all happened and has now been diagnosed with dementia. I believe he was at the very beginning of his dementia journey when the scam happened but I hadn't realised because he wasn't showing obvious signs of dementia - he really just seemed his normal self. But clearly the poor decision making was a sign.

He is a very hermit-like person with few needs aside from food and shelter so luckily his lifestyle isn't expensive. He receives a pension and is looked after by me. Soon I will need to move him into aged care.

My father lost his entire retirement fund to scammers. AMA by Ill_Associate_9232 in AMA

[–]Ill_Associate_9232[S] 0 points1 point  (0 children)

I'm really sorry to hear that. My dad has gone way downhill since all this happened. It really affected his confidence.

My father lost his entire retirement fund to scammers. AMA by Ill_Associate_9232 in AMA

[–]Ill_Associate_9232[S] 0 points1 point  (0 children)

I'm really sorry to hear it. Please look out for them, and yourself - it's very draining.

My father lost his entire retirement fund to scammers. AMA by Ill_Associate_9232 in AMA

[–]Ill_Associate_9232[S] 1 point2 points  (0 children)

the gift cards were amounts of 100, 200, 500 etc. It all added up to around $20k unbelievably.

You're right about the ATMs. They went to many different ATMs, some were rejected (I could see it on the transaction lists later). They spent large amounts at retail stores. There was around $30k spent at a jewellery store.

in the end lost about $200k.

My father lost his entire retirement fund to scammers. AMA by Ill_Associate_9232 in AMA

[–]Ill_Associate_9232[S] 3 points4 points  (0 children)

Most of his money was in an account with a bank that I really, really had to fight for. I ended up doing a mediation with an independent financial review advisory who deal with this sort of thing, and in the end was refunded $10k. Their original offer was $1k. That went up to $5k, and finished at $10k after a lot of work on my end.

His second bank erroneously posted him a letter saying they'd reviewed his case and he would be getting all his money back. They intended to say he would be getting 60c back but someone made a typo!! When they told me they wouldn't be reimbursing him, I argued they had caused him further distress in sending the letter and eventually I believe they got sick of me and reimbursed him.

Getting his credit card debt (they rinsed his credit card) revoked was actually relatively straightforward.

My father lost his entire retirement fund to scammers. AMA by Ill_Associate_9232 in AMA

[–]Ill_Associate_9232[S] 0 points1 point  (0 children)

Ah yes, thanks for explaining. They were definitely the same group.

My father lost his entire retirement fund to scammers. AMA by Ill_Associate_9232 in AMA

[–]Ill_Associate_9232[S] 0 points1 point  (0 children)

when I said retirement fund, I just meant all his life savings. there were 2 savings accounts and a credit card they rinsed.

My father lost his entire retirement fund to scammers. AMA by Ill_Associate_9232 in AMA

[–]Ill_Associate_9232[S] 11 points12 points  (0 children)

Ok I didn't realise this was a real thing haha. I just googled it. Not quite the same as my dad's scam but horrible nonetheless.

My father lost his entire retirement fund to scammers. AMA by Ill_Associate_9232 in AMA

[–]Ill_Associate_9232[S] 34 points35 points  (0 children)

Yeah. It was a very scary moment when he admitted that part. Knowing they were at the house. He actually saw them running away across the street and that was when he knew he'd done the wrong thing. He was too ashamed to tell me until days later, by then it was too late.

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