Veteran Loses $172,000 in Social Media Scam — and He's Speaking Out
Veteran Loses $172,000 in Social Media Scam — and He's Speaking Out
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Craig Wilkinson just wanted to build a future for his family. Instead, he lost $172,000 to scammers he never saw coming.
How It Started
Wilkinson, a disabled veteran and community volunteer, came across a Facebook ad last year for what appeared to be a legitimate financial firm — one he had already researched. He clicked on it hoping to learn about investing.
"When I was younger, I figured the VA was gonna take care of me. But then having three kids with my wife, I started thinking I should have something for the future," he told ABC News.
The ad led him to a WhatsApp group, where he was matched with a mentor named "Emily." What he didn't know was that scammers were impersonating employees of the real financial firm, offering daily investing classes and market updates.
How They Hooked Him
His "mentor" spent months getting to know him personally — asking about his family, his life, his goals.
"It's the questions to get to know you. And then, 'How's your mom doing?' Just one thing after another," Wilkinson recalled.
After five months and thousands of messages, his initial $5,500 investment appeared to grow to over $3 million. When he tried to withdraw the money, he was hit with fees — and by that point, he had sent the scammers $170,000.
Why These Scams Work So Well
The FTC says social media gives scammers a powerful advantage. They can target people by age, interests, and shopping habits — the same tools businesses use to reach customers.
"The scams today seem much less scripted and more dynamic and customized to the individual being targeted," said Emma Fletcher, a senior FTC data analyst.
Nearly 30% of all reported scams in 2025 started on social media. Investment scams alone cost Americans $1.1 billion — more than half of the $2.1 billion lost to all social media scams combined.
What Happened Next
Wilkinson contacted police and the FTC, who are now investigating and working to potentially recover his money. Meta, which owns both Facebook and WhatsApp, removed the accounts involved and says it has since banned U.S. financial service ads from linking directly to messaging apps — the exact method used to lure Wilkinson.
How to Protect Yourself
The FTC warns to watch for these red flags:
Fake legitimacy — Scammers often impersonate real companies or use real names to appear trustworthy. Always verify independently.
Fake problems or prizes — Claims that you owe money, are in trouble with the government, or have a family emergency are common hooks.
Pressure to act fast — Urgency is a tactic. Slow down and verify before doing anything.
Unusual payment requests — Cryptocurrency or wire transfers are major warning signs.
If something feels off, block the contact, don't share personal information, and report it to the FTC at reportfraud.ftc.gov.
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