DES MOINES, Iowa– The Iowa Insurance Fraud Bureau recovered an Iowa woman’s $3 million after she was scammed into turning her cash into cryptocurrency and transferring it to a scammer.It was one of the most common scams. The person acted as a federal agent using a real agent’s name and providing spoofed numbers. They told the woman she was a suspect in crimes. After further communications, the scammer convinced the woman to convert over $3 million worth of assets into cryptocurrency.She notified the bureau afterwards, feeling it may have been a scam. The bureau opened a case and realized that it was indeed a scam. Within 24 hours, they had the bank account locked, and the court process began. Now, she has every penny of her rightful money back in her pocket.
One last walk through Valley West Mall
The Iowa Insurance Fraud Bureau has investigated more than $84 million in scam-related money this year alone. A newer scam has surfaced, ending with the victim converting their money into physical gold and then being picked up by the scammer at their residence.”It’s a pretty alarming scam,” said Matt Mortvedt, Bureau Chief at the Iowa Insurance Fraud Bureau. “We have lots of members in our community that we’ve helped intervene with who have had well over six figures in gold sitting in their house, waiting to turn it over to what they think is federal authorities. We’ve actually been able, on numerous occasions, to interdict and arrest those couriers coming to defraud our victims.” To help protect Iowans, Iowa Fraud Fighters is hosting a Stop the Scammers Dinner from 5:30 p.m.- 7:30 p.m. at Prairie Meadows Events Center on November 19. It will cover common scams in Iowa, share warning signs of a scam, and provide resources for scam victims. A dinner will also be served. The event is free to attend, but registration is required. To register, click here.If you think you have been scammed or would like to report an attempted scam, click here.Iowa News: Copyright 2026 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
For the latest news, weather, sports, and streaming video, head to who13.com.
Click Here For The Original Source.
——————————————————–
