Man loses thousands after impostor picks up cash at his home

San Diego police are warning about an elaborate scam targeting residents — especially older adults — after a 78-year-old man lost thousands of dollars in less than a week.

The victim, identified only as Stephen, a San Diego resident and retired senior volunteer patrol member, said someone posing as a federal agent came to his home and collected a box filled with cash as part of the scheme. Police say similar cases have been reported across the county.

Stephen said he is sharing his story despite feeling embarrassed in hopes of preventing others from becoming victims.

“They had a quote ‘undercover agent’ come out to pick up the money,” Stephen said. “He came out at night.”

Stephen said he believed he was helping law enforcement.

“It is all on me,” Stephen said. “I should know better, but that’s why we’re talking.”

According to Stephen, the scam began with an email claiming his banking and personal information had been used in illegal activity. He said he was then contacted by people he believed were federal agents, who told him he could help catch criminals.

“One of the things they wanted us to do is deposit some money in a federal holding box so they could try to entice someone to come and get it, and then they’d arrest them,” Stephen said.

Following their instructions, Stephen withdrew thousands of dollars, placed the cash in a box, and waited for someone to retrieve it.

“They gave me phone numbers, they gave me fake ID numbers,” Stephen said. “I mean, they made it sound real.”

Stephen said the person who picked up the money avoided being seen on his home security camera.

“The guy was smart,” Stephen said. “He could see I had a Ring camera on my front door, so he never came in view of the camera.”

After the pickup, Stephen said, he never heard from the suspects again. Instead, he found a letter left at his door, supposedly from the Federal Trade Commission, claiming his money was safe in a U.S. Treasury account.

San Diego police say the scam is particularly concerning because it targets older residents.

“It’s really sad,” Lt. Cesar Jimenez said. “It’s targeting some of our older folks, older members of the community.”

Jimenez said scammers often rely on victims feeling ashamed, which can prevent them from reporting the crime.

“Absolutely — and they should report it because these people who are doing these scams are counting on that,” Jimenez said. “They’re counting on the fact that it’s going to hurt somebody’s pride, that they’re going to feel foolish about it.”

Stephen, who volunteers with SDPD’s retired senior volunteer patrol program, said his sense of duty may have contributed to his decision to trust the scammers.

“You can’t just sit at home, so if I do something. I want to help someone,” Stephen said.

Despite the loss, Stephen said, he’s trying to move forward.

“I’m trying to forget it, because I know I’m not going to get my money back,” Stephen said. “You can’t stay bitter forever.”

Police are also warning about a second scam emerging locally. In that scheme, victims are told their banking data has been compromised and instructed to cut up their debit card and place the chip in an envelope. A courier then picks it up, allowing fraudsters to access and drain bank accounts.

Authorities are urging anyone who may have been targeted or lost money to report the incident.

This story was originally reported for broadcast by NBC San Diego. AI tools helped convert the story to a digital article, and an NBC San Diego journalist edited the article for publication.