DATA & FIGURES
The total amount lost by Crenshaw is $900,000, with $40,000 initially transferred from her 401(k) into crypto. The scammer also sent her $36,000 in deposits for a yacht party. According to the Federal Trade Commission (FTC), consumers reported losing more than $1.4 billion to romance scams in 2025.
THE SCENARIO
The romance scam, also known as 'pig butchering,' typically combines romance, fake investments, and psychological manipulation, targeting older adults who have accumulated savings, home equity, and retirement assets. The scammers build trust over weeks or months before steering victims toward fraudulent platforms or accounts.
DIRECT QUOTE
"I truly felt like Brad cared about me. The thieves stole the life I worked so hard for. It was evil, and I don't want anyone else to find themselves in my situation." — Jackie Crenshaw, Fraud Victim and AARP Fraud Fighter
BBN INSIGHT
The Positive Side: Raising awareness about romance scams and their devastating impact can help prevent such incidents in the future. The Negative Side: The financial and emotional damage caused by these scams can be long-lasting, affecting not only the victims but also their loved ones. It is essential for individuals, especially older adults, to be cautious when interacting with strangers online and to verify the authenticity of investment opportunities before transferring funds.