Ontario man out $106,000 after being blindsided by twist of two scams
An Ontario man says he will probably have to sell his house after being scammed out $106,000 of his retirement money.
Sylvester, who did not want to provide his surname, said he is devastated and left completely lost after realizing he had been conned out of his savings.
"I just met this girl online, and I started to talk to her, and she said she's making some money in cryptocurrencies and said I could too," Sylvester, from Oshawa, said.
Sylvester said in October 2021, he was on a Facebook dating website when he met the woman, who claimed to be named Joanna and said she was visiting Canada from Korea.
After a week of chatting online, she suggested they invest in cryptocurrencies together.
Sylvester started with $500, but later invested thousands more. In total, he made about 22 transactions, taking loans from the bank and a line of credit.
At one time he transferred $24,000 in funds. He said he believed the woman he met online was also investing at the same time as him and putting in equal amounts.
Sylvester said at one time he even did a Zoom chat with the woman.
The woman also sent him printouts showing that his investments were rapidly going up, however when he tried to take his money out in December he couldn't.
That's when he said he realized he had been scammed out of $106,000.
A woman uses her computer keyboard to type while surfing the internet in North Vancouver, B.C., on Wednesday, December, 19, 2012. THE CANADIAN PRESS/Jonathan Hayward
"I'm retired and that was my retirement money that I saved. Now my heart is crying," Sylvester said.
Canadians, like Sylvester, lost more than $70 million in 2021 to investment fraud and another $40 million to romance scams.
Now criminals are combining the two types of fraud adding a twist to dating scams that some are calling CryptoRom.
In November, CTV News Toronto spoke with a woman who lost $80,000 in a cryptocurrency scam after connecting with a man on a dating website.
The Canadian Anti-Fraud Centre said while victims may think they're investing in cryptocurrencies, they're really just handing their money over to criminals.
"The fraudster is sending a platform, which is fake, but it very much looks real to the victims," Sue Labine with the Canadian Anti-Fraud Centre told CTV News Toronto.
During the COVID-19 pandemic, many people have been lonely and have turned to dating websites for companionship.
Sylvester is devastated after being caught in the scam and is worried he will lose his home.
"I'm lost. My mind is not working properly. I can't think, I can't do anything. I borrowed money from my friends, I borrowed money from all the banks. I have to sell my house probably," Sylvester said.
CTVNews.ca Top Stories
There's actually no such thing as vegetables. Here's why you should eat them anyway
The rumours are true: Vegetables aren't real — that is, in botany, anyway. While the term fruit is recognized botanically as anything that contains a seed or seeds, vegetable is actually a broad umbrella term.
BREAKING Israeli forces seize Rafah border crossing in Gaza, putting ceasefire talks on knife's edge
Israeli tanks seized control of Gaza’s vital Rafah border crossing on Tuesday as Israel brushed off urgent warnings from close allies and moved into the southern city even as ceasefire negotiations with Hamas remained on a knife’s edge.
The Met Gala was in full bloom with Zendaya, Jennifer Lopez, Mindy Kaling among the standout stars
The Met Gala and its fashionista A-listers on Monday included Jennifer Lopez, Zendaya and a parade of others in a swirl of flora and fauna looks on a green-tinged carpet lined by live foliage.
Canadian cadets rock mullets and place second at U.S. military competition
Sporting mullets, Canadian Armed Forces officer cadets placed second in an annual military skills competition in the U.S.
'It looked so legit': Ontario man pays $7,700 for luxury villa found on Booking.com, but the listing was fake
An Ontario man says he paid more than $7,700 for a luxury villa he found on a popular travel website -- but the listing was fake.
Noelia Voigt resigns as Miss USA, citing her mental health
Noelia Voigt, who was crowned Miss USA in November 2023, has announced she is resigning from her role, saying the decision is in the best interest of her mental health.
Putin begins his fifth term as president, more in control of Russia than ever
Vladimir Putin began his fifth term Tuesday as Russian leader at a glittering Kremlin inauguration, setting out on another six years in office after destroying his political opponents, launching a devastating war in Ukraine and concentrating all power in his hands.
Winnipeg man admits to killing four women, argues he's not criminally responsible
Defence lawyers of Jeremy Skibicki have admitted in court the accused killed four Indigenous women, but argues he is not criminally responsible for the deaths by way of mental disorder – this latest development has triggered a judge-alone trial rather than a jury trial.
Mediterranean staple may lower your risk of death from dementia, study finds
A daily spoonful of olive oil could lower your risk of dying from dementia, according to a new study by Harvard scientists.