The Insurance Division’s Fraud Bureau was recently able to recover three-million dollars in crypto currency from a fraud scheme. Bureau Chief Matt Mortvedt (More-TWEET) says they got a tip from a securities broker-dealer and were able to take action.
Mortvedt says crypto currency has been tough to track and recover, but they have been looking at new ways to do it.
He says they are just shy of four million dollars in cryptocurrency seizures this year. The Fraud Bureau also recently got a deferred judgment and restitution order of more than 80-thousand dollars against an Illinois man for an elderly Grimes couple targeted in a scam. The couple was told they were the victims of identity theft and they need to covert their assets to gold.
Mortvedt says they were able to get the couple to help them catch the courier.
Mortvedt say the scammers continue to try new things and you should always check it out when they want you to immediately respond.
He says they also hold “Stop the Scammers” events around the state.
Mortvedt says they really want to let the public know what’s going on so they can stop scams before people lose money. He says that’s much better than trying to get it back after a scam.
