Grandmother loses her entire life savings in a sophisticated scam

Barbara, a Kentucky retiree, became entangled in a fraudulent scheme in January.

A 74-year-old grandmother had her entire life savings stolen by fraudsters who were posing as federal agents, and they used a sophisticated scam to steal a huge sum.

Naturally, the victim's grandson is now speaking out to prevent others from falling into a similar trap.

Barbara, a Kentucky retiree, became entangled in a fraudulent scheme in January.

It began after she began receiving alarming emails from individuals claiming to be from the Social Security Administration and the Inspector General’s Office.

Her grandson, Stephen Warner, shared he is "extremely angry that this is even a thing that she has to deal with."

The messages, which grew increasingly threatening over time, accused Barbara of fraudulent activity.

She was threatened with severe legal consequences, including potential prison time.

To further manipulate her, the scammers provided a non-disclosure agreement and pressured her into signing it.

They also falsely claimed that speaking about the investigation could result in additional legal trouble. Now believing she was under government scrutiny, Barbara unfortunately followed instructions.

The scammers told Barbara that federal authorities would temporarily seize her assets for safekeeping while they "cleared her name."

They assured her that once the investigation was complete, she would regain access to her funds.

But of course, this didn't happen.

As part of this elaborate deception, Barbara was instructed to purchase gold coins, which would be stored in a secure federal facility.

She was then convinced to travel to Lexington, Kentucky, to complete the transaction.

Once there, she withdrew her savings, $179,000 in total.

She then purchased gold coins, which she handed over to the fraudster in the parking lot of a Chase Bank at Zandale Center.

The moment she handed over the coins, the scammer vanished without a trace.

Unusually, the scammer insisted on meeting Barbara in person, which is a bold move that hasn't yet been seen in similar scams.

Barbara's grandson is working with the FBI, which confirmed that this type of fraud is currently under investigation.

The financial loss was devastating, but the emotional toll was even greater.

Feeling hopeless and overwhelmed, Barbara attempted to take her own life. She was later hospitalized at Ephraim McDowell Regional Medical Center in Danville, where she is recovering.