Dunwoody City Council discussed financial scams after a local woman lost over $200,000 in a bitcoin and gold bar scheme. The incident involved manipulation through a fraudulent Microsoft support call. Police officials emphasised the uniqueness of this cash-to-bitcoin scam, noting the necessity for increased public awareness. Council members advocated for educational materials to protect the community from similar scams.
Dunwoody City Council recently addressed the issue of financial scams following an incident involving a local woman who lost over $200,000 in a bitcoin and gold bar scheme. The discussion stemmed from a report by Eric Linton, highlighting the victim’s experience, which occurred in late 2024 but was only reported in March 2025. This incident underscores the urgent need for increased public awareness regarding such fraudulent activities.
The victim, aged 58, faced a scam after receiving a pop-up message on November 27, 2024, claiming her computer was compromised. The message directed her to contact a supposed Microsoft support centre. Following this, a con artist, posing as David Walters from Microsoft, manipulated her into believing that $90,000 had been fraudulently removed from her account and urged her to secure her funds swiftly.
Following the advice of the scammer, she withdrew $25,000 from a different bank branch, under the illusion of securing her remaining money. Subsequently, she was directed to convert the withdrawn cash into bitcoins and transfer her remaining account funds, totaling $176,580, to a precious metal dealer, Paarasmani Inc., to purchase gold bars. Alarmingly, her bank processed this transfer despite several red flags that suggested it was a scam.
After acquiring the gold bars, the victim was instructed to await an FBI agent’s arrival. A young man, claiming to be an agent but providing no identification, subsequently took the gold bars and left without further explanation. The exact details concerning the bitcoin transaction remain unclear.
Dunwoody Police Sgt. Michael Cheek noted that while financial scams are prevalent, this case is unique due to the conversion of cash into bitcoin, contrasting with more traditional scams involving direct transfers into gift cards or cheques. The council member Rob Price emphasised the significant emotional impact of such monetary losses and proposed the development of educational materials to alert the community to potential scams.
Assistant Police Chief Oliver Fladrich acknowledged the need for outreach to vulnerable demographics affected by these scams, which often employ a gradual process of trust-building followed by significant financial loss. Cheek further explained that fraudsters frequently use intimidation tactics, falsely claiming legal repercussions to extract funds from victims. In light of recent events, the Federal Trade Commission has also issued warnings about the rise in cryptocurrency-related scams, encouraging vigilance against scams involving impersonation of reputable companies in varying communication formats.
