In September 2023, Barbara Cook got a call that brought her some relief. It was from individuals claiming to represent the security teams at Amazon and her bank, TD Bank. She and her husband, Larry, who was 80 at the time, had been struggling with Amazon for months, unable to make any purchases. Handing the phone to Larry, one of the callers revealed that his name and social security number had been used for transactions on the dark web. Within hours, they fell victim to a scheme that ended up costing them $1.3 million—money they had saved for retirement, causes they believed in, and family inheritances.
Building Trust
The scammers were seen putting stacks of $50 and $100 bills into Bitcoin ATMs and trading gold bars in both Maine, their home state, and Florida, where they had a winter apartment.
It took over six months for the Cooks to realize they had been duped. They followed the guidance of a scammer posing as an FTC agent. This individual built credibility by claiming he was merely doing his civic duty, helping to catch cybercriminals.
“My wife and I have always loved helping people,” said Larry Cook, now 82. He has a background as a pastor and has founded an organization based in Africa to help children. “We thought we were aiding the U.S. government.” During follow-up calls with supposed representatives from Amazon and TD Bank, the scammers pushed them to “cooperate” under the threat of expensive lawsuits if they didn’t comply.
Additionally, the scammers manipulated them with claims that their two successful sons would face repercussions, causing harm to their reputations.
Exploiting Fears
One tactic involved insisting that the Cooks move their savings into a “safety account” or convert it into Bitcoin, saying it was at risk of theft. They referred to cybercriminals having access to sensitive information, including Social Security numbers.
To further persuade them, the scammers sent a convincing letter that appeared to be from a high-level government official, warning that if Larry disclosed any information about the supposed “investigation,” he would face dire consequences.
“It may sound unbelievable, but we were frightened,” Larry admitted. He unwittingly signed a fake contract.
The couple was assigned a supposed FTC agent named “Ryan Terry.” He taught them to download WhatsApp, use it for voice calls, and set up a Bitcoin wallet. Under Terry’s direction, they withdrew more than $1.3 million from TD Bank, emptying even their 401(k) accounts. Larry mentioned being questioned frequently by bank staff who suspected it might be a scam.
Depositing into Bitcoin ATMs
Each time, he declined to see it as a scam, believing it was a legitimate operation serving a higher purpose. He would later regret ignoring the red flags, like when Terry misunderstood how to spell Naples, Florida, despite being a government worker.
Ignoring the suspicions of the bank staff, they deposited cash into Bitcoin machines located at various retail places. “Some of those transactions felt sketchy,” Barbara said, often remaining in the car while Larry made deposits.
Various items purchased under Terry’s guidance were later picked up from their home in Augusta, Maine, and a condo in Naples, Florida, by unidentified couriers.
Each pack’s value varied between $50,000 and $150,000. Terry even asked for photographs of the cash and gold as proof of compliance, promising that the FTC would safeguard their identities and funds.
Misguided Trust
Despite the warning signs, Larry thought he was doing a service for his country and ignored the odd behavior of Terry, who often asked personal questions about their life, claiming interest in their family.
In April 2024, after returning from visiting the nonprofit in Kenya, the couple discovered that they could no longer contact Terry through WhatsApp. A call to the FTC’s regional office revealed that the agent was a fraud.
Feeling gutted, they learned from a victim hotline that the FTC does not request consumers to move funds or keep investigations confidential. Investigators spent days sifting through their correspondence, spotting numerous spelling and grammatical errors that the couple had missed.
Significant Financial Impact
An investigation began, but by fall 2025, the couple was informed that the money was likely unrecoverable. On top of that, the IRS classified their withdrawals as taxable income, leading to significant tax liabilities.
They sought assistance from U.S. Senator Susan Collins of Maine, who managed to help them reclaim some taxes while others were forgiven.
Meanwhile, they faced skyrocketing Medicare costs, with premiums jumping from $200 to $1,465 per month, leaving health insurance issues unresolved.
In April 2024, while reaching out to family to share their misfortune, they cried together, expressing sorrow for keeping the financial transactions secret. “They were devastated and couldn’t comprehend how I could let this happen. They said, ‘Dad, you should have known better,’ and they were right,” Larry reflected.
A New Mission
The Cooks want their experience to serve as a warning to others in hopes of comforting those who feel too ashamed to speak about similar scams. “Are we ashamed? Yes. Were we naïve? Yes. But we’ve channeled our pain into empathy,” said Larry.
Amazon and TD Bank stated they could not comment on specific accounts and advised customers to be vigilant about fraudulent calls, directing them to report suspected scams.
