Scammers Steal Over $2 Million from Fremont Medical Professional

UPDATE: A Fremont medical professional has been scammed out of more than $2 million over the course of a year by fraudsters posing as federal agents. Authorities confirmed the shocking details today, revealing that the victim, a 52-year-old man, was misled into believing he was under investigation for serious crimes.

The scam began in April 2024, when the victim received phone calls and text messages from individuals claiming to be with the FBI, IRS, and the Medical Board of California. These impostors accused him of money laundering and drug trafficking, leading him to panic and comply with their demands.

Police report that the scammers convinced the victim his assets were at risk, prompting him to transfer his funds into what they claimed was a “safe custody account” managed by the FBI. Over a span of more than a year, the victim executed 17 transactions, totaling over $2 million in both fund transfers and cryptocurrency purchases.

The victim only discovered the truth after he contacted the legitimate agencies in September 2025 and learned there were no investigations against him. The phone numbers used by the scammers were found to be disconnected, revealing the extent of the fraud.

As the investigation continues, police have not disclosed any leads on the suspects, nor have any arrests been made. This incident raises serious concerns about the vulnerability of individuals to sophisticated scams, particularly those impersonating federal agents.

Authorities urge the public to remain vigilant and to verify any suspicious communications before taking action. The federal agencies impersonated in this scam have not yet commented due to the ongoing government shutdown.

With the investigation still unfolding, residents of Fremont and beyond are advised to be cautious and report any suspicious activity to local law enforcement. The potential emotional and financial toll on the victim underscores the urgent need for awareness and protection against such deceitful tactics.

Stay tuned for updates as this story develops.