Elder Scammed Out of $50,000 by Fake FDIC Agent

A woman lost about $50,000 in a scam where an imposter, posing as an FDIC agent, convinced her to move her savings. Over a three-month period, she was instructed to wire money, buy gift cards totaling nearly $10,000, and withdraw $40,000 in cash. The scheme was only discovered when her bank flagged the suspicious transactions and alerted her daughter. This led to the Paulding County Sheriff's Office initiating an undercover operation, culminating in a planned $35,000 cash handoff. Deputies arrested 58-year-old Zishan Zeng, who now faces multiple charges including theft by deception and elder exploitation, and is held without bond. Investigators believe a second, unidentified suspect may also have been part of the alleged scam.

Financial institutions are increasingly vigilant, with over 155,000 reports filed between June 2022 and June 2023 concerning suspected exploitation of older adults, totaling approximately $27 billion. To protect against government impersonation scams, individuals should be wary of callers demanding gift card purchases, cash withdrawals, or wire transfers to secure funds. Legitimate agencies will not request such actions or personal banking information. Americans lost $920 million to these scams in 2025, an increase from the previous year. If concerned about a call, hang up and contact the bank directly. It is advised to discuss any suspicious calls with a trusted family member before acting.