ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

Teenager Caught Siphoning off Cash From Elderly People as Part of 'Grandparent Scam'

Emotional fraud schemes in the community are growing at a fast pace.
PUBLISHED JAN 30, 2024
Cover Image Source: Pexels | Photo by Andrea Piacquadio
Cover Image Source: Pexels | Photo by Andrea Piacquadio

In a series of turbulent events, an 18-year-old found himself in custody after allegedly trying to scam vulnerable seniors in Stratford. Considering the nature of the fraudulent scheme, the police have aptly labeled this scheme the "grandparent scam," and the accused is now facing multiple charges, including fraud, extortion, and resisting arrest.

Pexels | Photo by Kindel Media
Image Source: Pexels | Photo by Kindel Media

The victims, all seniors, received distressing phone calls from an individual claiming to be a police officer. The fraudulent caller claimed that their grandsons had been arrested on drug charges and needed bail payments for release. Distraught and concerned for their family members, the unsuspecting seniors complied with the caller's demands.

Pexels | Photo by Kampus Production
Image Source: Pexels | Photo by Kampus Production

In the first instance, a complainant handed over a sum of $8,400 in cash as bail on January 12, but later realized that the entire episode was a scam and reported it to the police. The second victim suffered a similar fate and lost $7,300 after making an in-person "bail payment." The third senior, however, took a more cautious approach, reaching out to family before proceeding with the $7,000 payment, and the police intervened in time.

In response to the complaints, law enforcement officers were quick to make a move. Upon receiving information about the scheduled pick-up for the third payment, officers arrived at the location and identified a young man matching the description provided by previous victims. The ensuing arrest was not without resistance, but thankfully, no injuries were reported.

Pexels | Photo by Rosemary Ketchum
Image Source: Pexels | Photo by Rosemary Ketchum

The accused is now facing three counts of fraud involving amounts exceeding $5,000, three counts of extortion, and one count of resisting arrest. The legal process is set to unfold, with the suspect held in custody awaiting a bail hearing scheduled for Tuesday.

The "grandparent scam" is not a new phenomenon and unfortunately, seems to be on the rise. This deceptive tactic, preying on the emotional concern grandparents have for their grandchildren, has been a cause for concern across Southwestern Ontario. Authorities have warned the residents against unexpected calls seeking large amounts of money.

The Stratford case is not one of its kind. Similar scams have been reported in various communities across the region. In February 2023, a senior citizen from the Strathroy area fell into the trap and lost around $8,000.

In July 2022, the London police issued a public warning after multiple complaints were received regarding this type of fraud. Another incident involved a man from St. Thomas. Posing as an RCMP officer, the scammer convinced the man to pay $10,000 to prevent his grandson from facing criminal charges.

Pexels | Photo by Monstera Production
Image Source: Pexels | Photo by Monstera Production

As the legal proceedings unfold in the case of the Brampton teen accused of carrying out the "grandparent scam" in Stratford, authorities urge individuals to verify the authenticity of unexpected calls and to reach out directly to the concerned parties before taking any action. The "grandparent scam" is a distressing scheme, but with awareness and caution, communities can work together to mitigate its impact on seniors.

MORE ON MARKET REALIST
The guest's precious family heirloom held more than just sentimental value.
7 hours ago
The guest explained an inscription on the artwork before the expert revealed something more.
13 hours ago
The item was from prohibition era and that raised eyebrows in the pawn shop.
1 day ago
The extraordinary item once belonged to one of the most dynamic leaders of the U.S.
1 day ago
The appraiser explained that Remington was one of the most important Western artists of the century
1 day ago
Rick Harrison paid the price for having a conscience that didn't let him rip off the guest.
2 days ago
The champion had an amazing winning streak before reaching the Masters Tournament.
2 days ago
The item literally fell into the guest's lap as he was opening a record cover of the artist.
2 days ago
Alex Puglisi, a first responder from Connecticut, lost out due to a rarely used phrase in the Bonus Round.
2 days ago
The guest who inherited the lamps from his late friend was delighted to get the appraisal.
3 days ago
Fans were not happy about the player's failure to complete the obvious phrase.
3 days ago
The guest was representing a squadron and the item was a regimental jewel.
4 days ago
The chicken was so bad that the creator had to take it back to the store.
4 days ago
The contestant simply didn't realise what he had done even after Harvey's reaction.
4 days ago
The painting set a record on the show for being one of the most expensive pieces of art.
5 days ago
The cups were made thousands of years back and so regulations were not an issue as per the expert.
5 days ago
The founders of Surprise Ride had a deal but they failed to close it on time.
5 days ago
Harrison got his hands on one of the most sought-after pieces of American history for $1.45 million.
6 days ago
The popular TikTok creator claimed the food product was one of the worst the store offers.
6 days ago
Harrison wasn't willing to part with it but sold it to UFC boss Data White.
7 days ago