The Beverly Hills Police Department is cautioning the public about a scam that targeted an elderly victim in the city.

On July 1, the resident was defrauded by two members of an organized crime group who posed as financial institution employees and federal government agents. The suspects convinced the victim that his money was unsafe in bank accounts due to a supposed “virus” or “hack” of his electronic devices. Claiming to act in the victim’s best interest, the suspects instructed him to withdraw funds and give them to “federal agents” for safekeeping.

The growing scam trend has victimized the elderly community. In this case, the victim gave $59,000 to the suspects, who arrived at his residence on two separate occasions to collect the funds. The suspects even manipulated caller ID systems to display the actual name of the victim’s financial institution, further legitimizing their scheme, police said.

Once the victim realized he had been deceived, he contacted the Beverly Hills Police Department and a criminal investigation was launched. Using department resources, private surveillance footage and the city’s extensive network of security cameras and license plate readers, investigators identified two suspects and their vehicles.

A joint effort by BHPD and the Simi Valley Police Department resulted in the arrest of one suspect during a traffic stop in Simi Valley. The suspect was identified as Hsinfu Lin, 22; a resident of the city of Richmond in the Bay Area. He is charged with grand theft, theft by false pretense and financial elder abuse.

Police are still searching for the second suspect and investigators believe there may be additional victims, as police determined Lin traveled throughout Southern and Northern California. People who receive suspicious calls requesting money transfers or cash withdrawals should contact their financial institution directly and report the incident to local law enforcement. To contact the BHPD, call (310)550-4951.