Police: Grandmother likely won’t recover $150K lost in scam

WESTERLY, R.I. (AP) — Police in Rhode Island say they’re trying to recover $150,000 that a grandmother lost in a scam, but, at this point, there is little they can do.

The Westerly Sun reports the Westerly woman transferred the money to Hong Kong, believing she was investing in a company. When her family found out, they called police, who determined the company does not exist.

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Westerly police Capt. Shawn Lacey said once the money has been transferred, it is difficult to recover. He says it’s a reminder to be wary of wire transfers and to carefully research companies before investing.

The Rhode Island Department of Elderly Affairs is assisting in the investigation.