NewsLet Joe Know


Valley man spots '$9.2 million inheritance' scam before he falls victim

"Some people will do anything for money"
Posted at 5:00 AM, Aug 23, 2022
and last updated 2022-08-23 09:47:17-04

A letter too good to be true; that's how Mike Lofano describes a recent piece of mail.

The sender starts by introducing himself as an account manager with TD Canada Trust and claims Mike can inherit $9.2 million through a deceased relative's dormant account.

"I said, well, maybe I do have a relative up there that I don't know about," Mike said.

But as the letter continued, his optimism ran out.

The letter states, "Once the funds are released to you, they will be shared between the two of us."

That was a big red flag for Mike.

"If it's mine, why would you get part of it?" he questioned.

The letter urges Mike to be "discreet," encouraging him to act fast or the funds wouldn't be available.

Mike spotted it for what it was — a scam.

We reached out to TD Bank. They ask customers to report fraud right away and learn about potential scams to protect themselves.

Typically, inheritance scammers make money by asking people to pay an administrative fee or by getting access to your bank account.

If you get a letter like this, don't respond because it gives the scammer more information.

Received a fake inheritance letter? Report it to the FTC here.