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
'Anything to win': Trudeau says as Poilievre defends meeting protesters
Prime Minister Justin Trudeau is accusing Conservative Leader Pierre Poilievre of welcoming 'the support of conspiracy theorists and extremists,' after the Conservative leader was photographed meeting with protesters, which his office has defended.
What is changing about Canada's capital gains tax and how does it impact me?
The federal government's proposed change to capital gains taxation is expected to increase taxes on investments and mainly affect wealthy Canadians and businesses. Here's what you need to know about the move.
'My stomach dropped': Winnipeg man speaks out after being criminally harassed following single online date
A Winnipeg man said a single date gone wrong led to years of criminal harassment, false arrests, stress and depression.
Bank of Canada officials split on when to start cutting interest rates
Members of the Bank of Canada's governing council were split on how long the central bank should wait before it starts cutting interest rates when they met earlier this month.
'One of the single most terrifying things ever': Ontario couple among passengers on sinking tour boat in Dominican Republic
A Toronto couple are speaking out about their 'extremely dangerous' experience on board a sinking tour boat in the Dominican Republic last week.
7 surveillance videos linked to extortions of South Asian home builders in Edmonton released
The Edmonton Police Service has released a number of surveillance videos related to a series of extortion cases in the city now dubbed 'Project Gaslight.'
Ukraine uses long-range missiles secretly provided by U.S. to hit Russian-held areas, officials say
Ukraine for the first time has begun using long-range ballistic missiles provided secretly by the United States, bombing a Russian military airfield in Crimea last week and Russian forces in another occupied area overnight, American officials said Wednesday.
Pilot reported fire onboard plane carrying fuel, attempted to return to Fairbanks just before crash
One of the two pilots aboard an airplane carrying fuel reported there was a fire on the airplane shortly before it crashed and burned outside Fairbanks, killing both people on board, a federal aviation official said Wednesday.
Manitoba government tables bill to end ban on homegrown recreational cannabis
Manitoba is planning to lift its ban on the home growing of recreational cannabis.