Indiana retiree loses $10,000 to pig-butchering scam via Facebook and encrypted messaging apps

Summary

A Bedford, Indiana retiree named Timothy Patton lost $10,000 to a pig-butchering scam after being targeted online through a fake investment group. The scam involved a fake advisor named "Sabrina" and a fraudulent trading platform that claimed he earned $15 million from his investment. Patton was contacted through Facebook and used encrypted messaging apps like WhatsApp and Signal to communicate with the scammers, who sent him a gold coin in the mail as part of the scam. He filed complaints with the FBI, the Federal Trade Commission, and the SEC, and WRTV Investigates confirmed the trading platform was fake. The Wisconsin Department of Financial Institutions filed a cease-and-desist order against "Sabrina" and the same platform, seeking $17,000 in restitution for a separate victim. The FBI reported that cryptocurrency investment scams, including pig-butchering, cost $5.8 billion in 2024, with people over 60 being the hardest hit.