In September 2023, Barbara Cook experienced relief upon receiving a call from two individuals claiming to be from the security teams of Amazon and TD Bank. The 80-year-old and her husband, Larry, had faced issues with Amazon for several months, preventing them from placing orders.
She passed the phone to her husband, who was informed that his name and Social Security number had been misused for purchases on the dark web. Shortly after, the couple fell victim to a scam that siphoned off their $1.3 million savings, intended for their retirement, charity, and family legacy.
The Scammers Earned Their Trust
The fraudsters manipulated the couple into withdrawing $50 and $100 bills, depositing them into Bitcoin ATMs, and even giving away gold bullion from their residences in Maine and Florida. It took the Cooks over six months to realize they had been tricked while following the instructions of someone masquerading as an agent from the Federal Trade Commission (FTC).
The con artist gained their trust, claiming they were aiding a government investigation aimed at tracking down cybercriminals. “My wife and I have always liked to help people,” said Larry Cook, now 82, reflecting his sense of duty in assisting the supposed authorities.
Manipulative Tactics from the Fraudsters
In a follow-up call from the apparent representatives of Amazon and TD Bank, the scammers threatened legal consequences if the Cooks refused to comply with their instructions. They also intimidated the couple by saying their children, both successful professionals, would be implicated in the case, thus risking their reputations.
The fraudsters then alleged that the couple’s savings needed to be transferred into “safe accounts” as they were purportedly under threat of theft, with the criminals aware of their Social Security numbers. A convincing fake letter, bearing the U.S. Treasury’s seal, further enticed them into compliance, claiming that they would face asset confiscation if they spoke about the investigation.
Deception Continues
“We understand how unbelievable this sounds, but fear guided our actions,” Larry shared. The couple was assigned a fictitious “FTC agent” named “Ryan Terry,” who instructed them on using WhatsApp and setting up a Bitcoin wallet. Under his direction, they drained over $1.3 million from TD Bank, liquidating their savings and retirement accounts.
Despite being questioned by bank clerks who suspected fraud, Larry dismissed their concerns, believing he was engaging in a vital government operation. Eager to protect their family from possible repercussions, the couple conducted transactions in Bitcoin ATMs at various locations. “Some machines felt suspicious, and I constantly worried for Larry’s safety,” Barbara recalled.
A Painful Realization
The scam spanned until April 2024, concluding when Larry discovered he could no longer reach Terry on WhatsApp after returning from a trip to Kenya. Upon contacting the FTC, he learned that no such agent existed, and was directed to report the incident to law enforcement.
Authorities later assessed the fraudulent schemes, but by fall 2025, they informed the Cooks that recovery of their funds was unlikely. Their withdrawal had rendered them liable for substantial taxes on what was considered taxable income, prompting involvement from the office of U.S. Senator Susan Collins in Maine for financial assistance.
Despite the challenges, the Cooks remain hopeful, seeking to share their experience to warn and comfort others who may be deceived. “Are we embarrassed? Yes. Were we naïve? Yes. But we’re turning our anguish into empathy,” concluded Larry.
