Lincoln woman withdraws from 401K, loses $52,000 in phone scam

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LINCOLN, Neb. (KOLN) – The Lincoln Police Department says a woman withdrew thousands of dollars from her 401K in a phone scam.

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Friday morning, LPD was contacted by a 67-year-old woman who said that she’d lost $52,000 in a scam.

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According to investigators, the woman explained that back in March she received information that there were some fraudulent charges on her bank account from Amazon. LPD said the woman told officers she’d started speaking with a man over the phone and was under the impression he was with the Fraud Department at the bank.

LPD said over two months, the woman said made withdrawals from her 401K to purchase Bitcoin and was told she’d receive two checks in the mail, one for $51,000 and another for $18,999. LPD said the woman never received either checks.

The total loss was $52,000. LPD said she lost $51,000 from her 401K and $1,000 from her bank account.

LPD stresses that you should always verify information through your bank before making any withdrawals or transfers.

Avoid Getting Scammed

Law enforcement said scammers are convincing and use tactics that can seem legitimate. If you feel unsure, it’s always okay to hang up, take a second look at information received and reach out to someone you trust.

You can also reduce the number of unsolicited calls by registering your phone number with the National Do-Not-Call registry at 1-888-382-1222 or

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