Southern California Man Arrested for Scamming Elderly Victim of $97K in Crypto Transfers

A man in his mid-twenties has been arrested in Southern California for allegedly scamming an elderly victim out of nearly $100,000 through cryptocurrency transactions.

The Ventura County Sheriff's Office launched an investigation in November 2025 after the victim reported financial theft. The probe revealed that the suspect, William Ly, befriended the 89-year-old man at a local breakfast club for retired men.

Ly allegedly helped the victim optimize his cellphone and reset the password to his Coinbase cryptocurrency exchange account. However, this act of kindness eventually turned into exploitation as Ly transferred more than $97,000 from the victim's account through over 80 separate transactions.