Los Angeles Times: ‘Pig butchering’ crypto scheme costs San José man $170,000. Scammers wanted even more, prosecutors say
The senior in San José suspected something was amiss when the woman who’d supposedly helped him buy $170,000 worth of cryptocurrency had asked for twice as much money to pay overseas taxes.
He called the Santa Clara County district attorney’s office, which led to criminal charges against two Southern California residents accused of helping run a “pig butchering” scam — a scheme designed to con victims out of their life’s savings.
The district attorney’s office announced Wednesday the arrests of Liu Hong, a 40-year-old man from Rosemead, and Yalin Li, a 23-year-old woman from El Monte. Authorities allege that the pair are part of a larger criminal organization operating outside the United States.