A California man faces fees after allegedly emptying an aged retiree’s cryptocurrency account via repeated unauthorized transfers.
William Ly, a 26-year-old Simi Valley resident, allegedly developed a friendship with the 89-year-old sufferer at an area breakfast membership for retirees and reset the password to his Coinbase account linked to a financial institution, studies the New York Publish.
Authorities say the friendship went on from June 2024 till September 2025, when the aged sufferer realized that he had misplaced tens of 1000’s of {dollars}. The Ventura County Sheriff’s Workplace detectives started their inquiry in November 2025 after receiving a report of economic theft that includes an aged sufferer.
Investigators say that greater than 80 separate cryptocurrency transactions drained over $97,000 throughout a 15-month interval. Officers traced the stolen funds to accounts and digital wallets allegedly belonging to Ly.
The suspect was arrested on August 4th on suspicion of economic elder abuse, grand theft and id theft.
Authorities labored alongside the FBI and the Ventura County Fraud Working Group through the months-long case.
Investigators now suspect others could have been focused as properly and are urging anybody with comparable experiences to return ahead. Anybody who believes they could have been focused or has info related to the investigation is inspired to contact Senior Deputy Andrew Van Gundy of the Ventura County Sheriff’s Workplace at 805-494-8231.
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