You know when you’re in college, money is tight and mom and dad can’t bail you out this time? Who do you call for some extra cash in times of crisis? The grandparents of course. They always come through with the much needed funds and maybe a little extra.
One Canadian used this typical scenario as a money scheme.
United States seniors found themselves victim to a money-laundering scam thinking the funds were going to their possible grandkids in need.
According to the SunSentinel, 33 year-old, Stephan Moskwyn admitted to laundering more than $800,0000 in “grandma scam.” On Thursday, Moskwyn pleaded guilty of the crime in federal court in Miami, FL.
Since 2014 with the help of a Canadian calling center, Moskwyn had employees at the center phone victims, posing as grandchildren. According to Homeland Security Investigation agents, employees pretended to be relatives who had been hospitalized or jailed.
Moskwyn’s scam had financial transactions using money orders and pre-paid debit cards in the U.S. Some victims were instructed to send virtual money orders through bitcoin.
In his plea agreement, Moskwyn reported that some of the elderly victims were so convinced, they sent more money than initially requested.
Moskwyn was arrested in October, and was sentenced to 4 1/2 years in federal prison.