Chinese National Sentenced for US Scheme Targeting 2,000 Elderly Victims

A Chinese national and ringleader of a $27 million money laundering operation that targeted around 2,000 elderly Americans was sentenced to 12 years and 7 months in prison by a federal court on Friday, according to a statement from the Department of Justice (DOJ).

Zhao Wang, aka “Oscar,” and four other defendants “operated a series of technical support, bank impersonation and government impersonation, and refund scams targeting elderly victims,” the DOJ said on May 8.

“Victims received unsolicited phone calls, emails, and pop-up ads directing victims to call a phone number. Unbeknownst to the victims, those phone numbers belonged to India-based scam call centers.”

The scammers used social engineering techniques to build trust with victims. They had the victims download remote desktop software, which was used to access victims’ computers to carry on the scams.

A most frequently used scam was the refund scam, in which the victims were told they were entitled to a small refund, such as from a retailer for an unauthorized charge.

The scammers would then claim they had accidentally over-refunded, asking the victims to send this excess money in cash via express mail or through wire transfers to the defendants.

Wang admitted that he and his co-conspirators laundered the money using cryptocurrency to their foreign counterparts, with him taking upward of 18 percent of the stolen amount, the DOJ said.

Between 2021 and 2023, more than 2,000 elderly Americans were defrauded out of their hard-earned money.

“Today’s sentence ensures that Wang, the coordinator perpetrating the multitude of scams, is held accountable for his role,” Special Agent in Charge Mark Remily of the FBI San Diego Field Office said.

“FBI San Diego and our law enforcement partners will continue to aggressively investigate those who think they can prey on our elder population without consequences.”

According to the FBI’s 2025 Internet Crime Report, there were 201,266 complaints of financial fraud from individuals aged over 60 last year, the most filed by any age group.

People in this demographic suffered over $7.7 billion in losses, up by 59 percent compared to 2024, with the average loss being $38,500. Almost 12,500 individuals lost over $100,000 each.

In an April 7 statement, the Federal Trade Commission (FTC) said there was a “growing wave of scams” targeting the life savings of retired Americans.

The scams typically start with a fake story to grab the victim’s attention, such as a third party using their account, their information being used to commit crimes, or there being a security problem with their computers.

“These scammers say the only way out of the (fake) crisis is to follow their instructions—which will include sending money to the scammers. They may say this will keep your money safe, secure your identity, clear your name, or help catch the criminals,” the FTC said.

“There may be layers of complexity to the story, but it’s all a lie aimed at draining your accounts.”

Protecting Against Fraud

To avoid being scammed, the U.S. Secret Service advises elderly citizens not to hand over their personally identifiable information, bank access codes, or online passwords to individuals or businesses without first verifying their legitimacy.

Government agencies will never make phone calls to “threaten you or your loved ones,” the Secret Service said.

“Official notification from U.S. government agencies will almost always initially involve an official letter sent via regular mail.”

In December, a group of lawmakers introduced the bipartisan National Strategy for Combating Scams Act, aimed at protecting senior citizens from scammers, according to a Dec. 8 statement from the office of Sen. Mark Kelly (D-Ariz.).

The bill requires the FBI to develop a coordinated national strategy to combat scams, while taking inputs from seniors, scam victims, law enforcement, businesses, and nonprofits on the issue.

“Every year, scammers steal billions of dollars from Americans, harming families, especially seniors. But the federal government lacks a strategy to address the scope and speed of these schemes,” Kelly said.

“This bipartisan bill will create a coordinated approach to crack down on fraud, better protect families and seniors, and hold scammers accountable.”

The bill has been referred to the Senate Committee on the Judiciary.