With ‘pig butchering’ scams on the rise, FBI moves to stop the bleeding
Enticed by the prospect of romance and riches, coaxed over social media, thousands of people have lost their savings in a scam known as pig butchering.
She called herself Anna, and she reached out to Barry May over social media.
“It was on Facebook, was an Asian woman that supposedly lived in New York, on Fifth Avenue,” he said. “And so we just started chatting.”
Soon, he said, Anna was sending explicit photos. May, a divorced and retired insurance adjuster living in Mississippi, was smitten. She told him they could be together, but first she needed a favor.
Her aunt, she said, was holding $3 million of her money. She needed May to invest in cryptocurrency, so her aunt “would release that money to her and then she could come to me and we could get married.”
Barry May lost more than $500,000 after falling victim to an online scam known as “pig butchering.”Courtesy of Barry MayShe promised huge returns. He sold property and liquidated his 401(k), sending the woman more than $500,000 — his life savings. An account on a website appeared to show his holdings.
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