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Man Loses $55K in Fake Stock Scam
15 Nov
Summary
- Victim wired $125,748 for investments.
- Scammer demanded extra fees for withdrawal.
- Police recovered $70,000 of the victim's money.
In November 2026, a 70-year-old Ledyard, Connecticut resident lost $55,748 to an online investment scam. The victim had sent $125,748 for purported stock investments after connecting with an individual named 'Manny Backus' on Discord in 2024.
When the victim attempted to withdraw his funds in July 2024, the scammer imposed a condition that the investment account must reach $200,000. He then demanded additional money for commission and taxes, which the victim refused to send, prompting him to report the incident to the police.
Ikeoluwa Famubode, 40, of Pikesville, Maryland, was charged on November 5, 2026, with larceny offenses. Police successfully recovered $70,000 after contacting Ozz Guys LLC, one of the businesses where funds were transferred. Investigations revealed Zanzibay LLC, linked to Famubode, received the unrecovered $55,748.
Famubode was extradited to Connecticut. An arraignment is scheduled for November 23, 2026, in New London Superior Court. The SEC warns against paying extra fees to release supposed investment funds, advising victims to contact their banks and report fraud.
