A resident was recently scammed out of $40,000 after receiving a text message claiming to be a fraud alert from their bank, according to the Irvine Police Department.
The scammer then called the victim and convinced them to withdraw their savings so the bank could “secure” it at another location.
The suspect then arranged for a courier to pick up the money. Shortly after handing off the money, the victim realized it was likely a scam.
Investigators are working to identify where the money was taken.
REMINDER: Banks will never send someone to collect your money.
No legitimate employee will ask you to withdraw cash to protect your account.
Urgency and secrecy are common scam tactics.
Please talk with senior adults in your family about these scams. If something feels wrong, hang up and call your bank directly using the number on your card.
Legal Penalties Faced by the Suspect
In California, suspects involved in high-value elder financial scams face severe penalties under both state and federal law. Because the loss exceeds $40,000, the crime is classified as Grand Theft and typically triggers enhanced sentencing for targeting vulnerable adults.
State Penalties (California Penal Code)
Under Penal Code 368, financial elder abuse is a “wobbler” that can be charged as a misdemeanor or a felony. Given the $40,000 amount, it is almost always prosecuted as a felony.
- Felony Elder Fraud: Suspects face 2, 3, or 4 years in state prison.
- Fines: Criminal fines can reach up to $10,000.
- Civil Penalties: California’s SB 278 (effective Jan 1, 2026) and existing laws allow victims to recover treble damages (three times the loss) and attorney fees in civil court.
- Restitution: Courts mandate full repayment of the $40,000 to the victim as a condition of probation or parole.
Federal Penalties
If the scam involved text messages (wire communication) or targeted a federally insured bank account, federal agencies like the FBI may bring charges.
| Charge | Statutory Maximum Penalty |
|---|---|
| Wire Fraud | Up to 20 years in federal prison |
| Bank Fraud | Up to 30 years and a $1,000,000 fine |
| Money Laundering | Up to 20 years per count |
| Conspiracy | Up to 5 years in federal prison |
Penalties for the “Courier”
Couriers, often called “money mules,” face criminal prosecution even if they claim they were unaware of the full extent of the scam.
- Active Participants: Those who knowingly pick up cash are frequently charged with Felony Conspiracy to Commit Elder Fraud.
- Recent Sentencing: In a similar 2025 case in Carlsbad, CA, a courier was sentenced to one year in jail and two years of probation for attempting to collect $50,000.
- Liability: Couriers can be held personally liable for repaying the full amount stolen from the victim.