A 65-year-old Houston man, Hiep Nguyen, lost his entire life savings – $500,000 – to a sophisticated bank fraud scam, forcing him out of retirement.
The Scam
Nguyen received a call seemingly from the Vietnamese Embassy. The callers convinced him his identity was being used in overseas crimes like money laundering. To clear his name, they instructed him to wire all his money to another bank. They used the encrypted messaging app Viber to send wire transfer instructions and fake government documents to appear legitimate.
Devastating Consequences
Nguyen lost everything. His daughter, Kathy, is now supporting him and is even selling her house to help. She’s urging everyone to warn their elderly family members about similar scams.
The Aftermath
The Nguyens have reported the crime to the FBI, but the scammers remain at large. The incident serves as a stark warning about the dangers of sophisticated phone scams targeting vulnerable individuals.