Central Florida widow loses nearly $200K in imposter scheme

ORMOND BEACH, Fla. – A 74-year-old widow was conned out of nearly $200,000 in a scheme that highlights the growing threat of fraud targeting seniors.

According to the Federal Trade Commission, Floridians lost $885.5 million to fraud last year, with imposter scams ranking third on the fraud list.

[Watch video below to hear from victim]

Elizabeth Bahmann’s experience is a stark reminder of how easily individuals can fall victim to these schemes.

“I remember I was dusting the house when the phone rang,” Bahmann recalled.

It was a call that appeared to be from her bank, Wells Fargo, and it was a call that led her to financial devastation.

“My only answer is why? Why did it happen to me? My entire life I was trying to be a good person,” she said, reflecting on the emotional toll of the scam.

The police report details how Bahmann was defrauded after someone claiming to be from her bank asked her to verify by phone two $5,000 transactions.

When she denied making the charges, the scammers insisted they needed to investigate the fraud.

“How did those scammers learn about my name, my phone number? They knew everything about me,” Bahmann questioned.

The crooks told her that her account had been compromised and urged her to withdraw her money.

She started with $90,000.

She made multiple withdrawals over several days, including amounts of $13,000, $11,900, and $15,000.

Ultimately, she was advised to transfer her funds to cryptocurrency and unknowingly sent it all to the criminals.

“Every day they told me that as soon as the investigation is over, everything will be returned,” Bahmann said.

When asked if she ever thought it could be a scam, she said, “No, because I have never ever heard anything like that before. That’s why I totally believed them.”

The crooks also convinced her to take out two home equity lines of credit, one for $54,000 and another for $57,000.

“My life was mortgage-free,” she lamented, now burdened with debt that she must pay using her Social Security income.

When Bahmann realized she had been ripped off, she contacted the police.

“That day when I went to the bank with the policeman, I was close to taking my life,” she said, expressing the profound impact of the fraud on her mental health.

According to the report, bank employees raised concerns to Bahmann about her frequent large withdrawals.

However, the crooks advised her not to mention “the investigation,” so Baumann told the bank she was doing home repairs.

Ultimately, the bank had to allow her to access her funds.

Sharon Thompson, Florida president for United Community Bank, believes that a new law, SB-556: Protection of Specified Adults, could help prevent situations like Bahmann’s.

“We also know what these fraud schemes look like. And so we just want to slow it down a little bit to protect them,” she said.

The law allows financial institutions to delay transactions for 15 days, with the option to extend for an additional 30 days if they suspect someone over 65 is being financially exploited.

“It encourages us to take those extra steps and, to be honest, those extra steps probably would have saved a lot of folks,” Thompson added.

“I live with very little money. But I’m trying. I’m trying to survive,” Bahmann said.

In an effort to further protect their customers, United Community Bank is encouraging clients over 65 to add a trusted person, such as a family member, to their accounts.

This measure provides the bank with an additional contact to discuss any suspected fraud.