Scammers Con Medical Professional Out of $2 Million in Fremont

URGENT UPDATE: A shocking scam has left a 52-year-old medical professional in Fremont reeling after losing more than $2 million to fraudsters posing as federal agents. The alarming details emerged following a police report filed on September 25, 2025, revealing a year-long deception that began in April 2024.

Authorities report that the victim, who has not been publicly identified, was targeted through a series of telephone and text communications from individuals claiming to be agents of the FBI, IRS, and the Medical Board of California. These impostors falsely accused him of involvement in serious crimes, including money laundering and drug trafficking.

The scammers convinced the victim that his assets were under threat of confiscation. They persuaded him to transfer his funds into an external cryptocurrency wallet, assuring him that the FBI would safeguard his money until the case was resolved. Over the course of the scam, between April 2024 and May 2025, the victim executed a staggering 17 transactions totaling more than $2 million.

It wasn’t until the victim independently contacted the actual government agencies that he discovered the truth: there were no ongoing investigations against him, and the phone numbers used by the scammers were ultimately disconnected. The reasons behind his decision to reach out to these agencies remain unclear.

As the investigation unfolds, police have yet to make any arrests, and the case highlights the growing prevalence of sophisticated scams targeting individuals. The impersonation of federal officials raises serious concerns about public safety and the need for increased awareness regarding such fraudulent schemes.

Due to the ongoing federal government shutdown, representatives from the FBI and IRS could not be reached for comment. The Medical Board of California declined to provide further information, citing confidentiality regarding complaint and investigation records.

This alarming incident serves as a stark reminder for all individuals to remain vigilant against scams that exploit personal and professional vulnerabilities. As the investigation continues, authorities encourage anyone who may have encountered similar schemes to report them immediately.

Stay tuned for further updates on this developing story as more information becomes available.