Crime & Safety
Elderly Troy Man Loses Nearly $500K In Online Scam: Police
Police said the elderly man invested $460,000 in what he thought was a legitimate gold exchange with a woman he had met online.
TROY, MI — An 81-year-old Troy man was swindled out of nearly half a million dollars in an online scam, according to police.
Police said the man invested $460,000 in what he thought was a legitimate gold exchange with a woman he had met online.
The man began investing in the scam in October 2023 and sent money through this woman for four months, according to police.
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When the elderly man asked about withdrawing some of his earnings, he was told he would have to pay a tax penalty before withdrawing the money, according to police.
A family member recognized the investment was a scam and alerted police.
Find out what's happening in Troyfor free with the latest updates from Patch.
Police reminded people to watch out for online scams by checking emails for typos and anyone asking for a large sum of cash for a big investment.
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