(Des Moines, IA) -- Iowa Attorney General Brenna Bird is warning Iowans about a rise in “pig-butchering” scams.
Her office says In a pig-butchering scam, con artists build trust with their victims and “fatten them up” for a rip-off by flirting or developing a friendship over a long period of time. Often, scammers will first reach out over social media messaging apps and find common ground with their targets. The con artists then tell a story to convince the innocent victim to send money through cryptocurrency, where the money cannot be tracked or retrieved.
Attorney General Bird cites a recent example out of southeast Iowa, in which a man was befriended by a scammer posing as a young woman on Facebook. The scammer, who went by “Delia” from Illinois, talked with the man on Facebook messenger and over the phone for months to build the man’s trust. They bonded over common hobbies such as cooking. She then persuaded him to send money through Bitcoin, making him believe that the money was going to a pretend investment company. He started with just $1,500. But when the scammer sent fake screenshots of investment statements showing he had made $750,000 off of it, he continued to increase his investments. He invested a total of $164,000. The man even borrowed against the titles of his two Harley Davidson motorcycles. This scam came at a time when his wife had just lost her job, and they could have used the money more than ever.
“Pig-butchering scams are evil long-cons,” said Attorney General Bird. “Scammers prey on Iowans’ emotions to build trust over time before stealing their savings, ruining relationships, and taking advantage of people when they are at their most vulnerable. We are spreading the word to stop the scam.”