Houston – 65-year-old Hiep Nguyen said he moved to America in 1978 in hopes of a better life. He saved up money for retirement and had bought a house.
But after an elaborate elder fraud scheme that took place over five months, Nguyen said he’s about to lose everything.
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“Now I can’t sleep,” said Nguyen.
It all started in December 2024 when Nguyen received a legitimate letter from the Internal Revenue Service stating someone was stealing his identity.
Just a week or two later, Nguyen said someone with the caller ID as the “Vietnam Embassy” called him claiming his identity was being used overseas for various crimes like money laundering.
In order to clear his name, the caller said Nguyen must send over money.
“I lost maybe $500,000,” said Nguyen. “I don’t know when I could retire or if I have to work until I die.”
Nguyen said he was planning on retirement in two years, but now is in the process of selling his house to pay off the debt.
Over the course of five months, the callers exchanged texts with him on the encrypted messaging app Viber, sending him fake government documents, AI-generated videos impersonating officials, and directions to wire transfer the money.
“They said to send all the money, plus retirement,” said Nguyen.
According to the FBI, elder fraud cost $3.4 billion in losses in 2023. That’s an 11% uptick from the year prior.
In 2023, government impersonation scams accounted for $180 million in losses, according to the FBI.
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The U.S. Department of Justice said financial scams and abuse targeting older people are becoming more common. The common sign for government impersonation scammers includes threatening to arrest or prosecute victims unless they agree to send money.
Nguyen’s daughter, Kathy Nguyen, is helping her father make ends meet.
“I was in shock, I did not know that this was going on for the past five months,” said Kathy. “He didn’t have anything left, and he needed to reach out for help, but he was ashamed."
If you’d like to help Nguyen, you can click HERE.
If you believe you or someone you know also fell victim to elder fraud, reach out to our 2 Helps You or you can call the National Elder Fraud Hotline at 833-FRAUD-11.
