Federal authorities arrested 15 people accused of orchestrating a $30 million telemarketing fraud scheme targeting elderly Americans who owned timeshares.
Members of the criminal organization allegedly contacted victims through phone calls and emails using false identities of attorneys and government officials, according to the U.S. Attorney’s Office (USAO) for the Eastern District of California. Many victims owned or previously owned timeshares and were told they were entitled to receive money pertaining to legal settlements concerning their timeshares, according to the press release.
“We exposed a complex fraud led by gangs that drained the life savings of elderly victims,” FBI Special Agent in Charge Sid Patel said, ABC30 reported.
“They used real government employee names. They used real attorney bar association numbers and seemingly authentic seals,” he added.
Victims paid supposed legal fees to receive settlements that never existed. The alleged criminals laundered stolen money through shell companies and financial accounts before transferring funds to gang-controlled banks in the U.S., Latin America and other regions, authorities announced. (RELATED: FBI Searches For Foreign National Allegedly Involved In $34 Million COVID-19 Relief Fraud Scheme)
We thank our partners including IRS Criminal Investigation, U.S. Postal Inspection Service, Bakersfield Police Department, and Truckee Police Department for their commitment to dismantling organized criminal groups who prey upon our country’s most vulnerable citizens. Our joint… pic.twitter.com/OfX1j9NVOl
— FBI Sacramento (@FBISacramento) October 22, 2025
IRS-CI Special Agent in Charge Linda Nguyen warned Americans about the tactics.
“The government will not ask you for fees to obtain legitimate money owed to you,” Nguyen said.
As of Tuesday, authorities identified more than 372 victims nationwide who lost over $30 million. Eastern District of California U.S. Attorney Eric Grant acknowledged recovery efforts remain challenging.
The suspects allegedly belonged to a transnational gang known for drug trafficking but turned to fraud schemes for easier profits, ABC30 reported. A Fresno-based grand jury indicted more than 20 people on charges of conspiracy to commit wire fraud and money laundering.
Operation Silver Shores resulted in arrests across California, Texas and Florida, including four suspects from Fresno and Bakersfield.
Patel urged Americans to verify unfamiliar contacts before sharing financial information or sending money.