An 80 year old man in New York was defrauded and $285000 was converted into Bitcoin before being stolen. He has filed an arbitration claim against Jiaxin Wealth Management On March 20th, according to Business Insider, George Chryssanthou, an 80 year old resident of New York, suffered a fraud and lost nearly $285000. He has filed an arbitration claim against Jiaxin Wealth Management with the Financial Industry Regulatory Authority (FINRA) regarding this matter. On January 17, 2025, scammers impersonated "Microsoft Technical Support" and called Chryssanthou to remotely control their computer under the pretext of fixing software issues, claiming that their account had been hacked. Subsequently, the fraudsters induced the victims to provide verification codes and transferred the funds in batches to an account called "Coinbase Inc" at Cross River Bank in New Jersey via wire transfer within a few days, with amounts ranging from $18000 to $90000, totaling $284650, which was then converted into cryptocurrency for transfer. The victim did not realize that their balance had returned to zero until January 29th when they logged into their account. After FBI intervention, the parties were informed that the possibility of recovering the funds was extremely low. In September 2025, Chryssanthou commissioned lawyer Adam Gana to file a claim against FINRA, accusing Charles Schwab of failing to fulfill his supervisory duties, including failing to verify and intercept wire transfers with abnormal frequency and suspicious receiving accounts.