Westfield Resident Scammed Out Of $435K After Instagram Post

WESTFIELD, NJ — The Westfield police said on Tuesday that a resident was bilked out of $435,000 over three months after someone contacted her on Instagram.

Internet scams are becoming more frequent during the pandemic, officials have said.

Police said that the Myrtle Avenue woman reported to police last week that in January, she was contacted on Instagram by a stranger who "offered her high return rates on her investment if she invested with his company."

Over three months, police said, the woman made money transfers into various accounts provided by people who contacted her, pretending to be employees of the investment company.

She eventually realized the matter was a scam and contacted police on April 5, but had already lost $435,000.

The U.S. Securities and Exchange Commission warns that some "high-yield investment programs" are scams on this page.

Police are investigating.

Also recent in North Jersey: The $9,000 'Grandparent Scam'

As similar scams ramp up via the internet and phone, police have warned residents not to give personal information to strangers.

For instance, a Summit resident was swindled out of $9,000 in December in an increasingly common "Grandparent Scam," in which callers say they have a person's child or grandchild in custody and need money.

And a Westfield resident was bilked out of $10,000 in a phone scam in February. READ MORE: Westfield Resident Bilked Out Of $10K In Phone Scam

On April 26, Lifelong Westfield and the Westfield Police Department will present a webinar to help residents identify and avoid fraud and scams, many of which target senior citizens and are on the rise. To obtain the Zoom meeting information, attendees must register in advance by emailing westfieldnjseniors@gmail.com or calling 908-201-1287.

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