Tulare police arrested a Canadian suspect in a $130,000 elder scam, preventing an additional $90,000 loss during a planned cash pickup. (GV Wire File)
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Tulare police thwarted an elaborate scam targeting an elderly man who had already lost $130,000, arresting a suspect during a planned cash pickup on Friday, the Tulare Police Department said in a statement.
The victim, who was led to believe he was investing in a trading company, had been instructed to download a phone application, which authorities believe was fictitious.
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The app allegedly showed his money growing, convincing him to continue investing. Initial transactions involved wire transfers, but the scheme escalated to face-to-face cash pickups at the victim’s home due to his mobility issues.
The scam was discovered when a family member contacted the Tulare police on Thursday, reporting that the suspects were demanding an additional $90,000.
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According to police, the suspects claimed this payment was required to cover fines for illegal trading, promising the victim access to a supposed $990,000 in returns.
Tulare police set up surveillance at the victim’s home and arrested Hailong He, 28, of Canada, when he arrived to collect the cash.
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He was booked into the Tulare County Jail on charges of financial elder abuse, theft under false pretenses, and grand theft, authorities said.
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