Police bust Arizona-based senior telemarketing scam

Phoenix police arrest more than a dozen people for bilking thousands of elderly victims out of $40-million.

Investigators say the accused con artists ran an elaborate telemarketing scheme. It promised victims huge returns on their investments. Instead, it wound up draining them of their retirement savings.

The scam was based in Phoenix. However, most of the case’s 9,000 victims live outside Arizona. Almost all of them are 65 or order.

Police say the operation dates back to 2014. It took officers more than three-years to put together the case against the con artists.

They took 13 people into custody. All face multiple charges including money laundering, and theft from a vulnerable adult.

The Federal Trade Commission helped shut down the ring in 2016. It also helped recover $7-million to return to the victims.

KYMA 2019