Scammers Use Financial Grooming, Known as ‘Pig Butchering,’ to Steal Victims’ Savings

Her name, she said, was Jessie. Dennis Jones, 82, met her on Facebook. The divorced, beloved grandfather and father had chatted online with Jessie for months, and he felt close to her, even though they’d never met. On a family vacation, he revealed to his son and daughter that he was exploring a major cryptocurrency investment opportunity. But the investment, and the friendship, were frauds. Jones invested his life savings — and Jessie still pressed him for more money. He was financially ruined. Soon after, a distraught Jones ended his life. CONTINUE