A Simi Valley man is facing charges after authorities say he stole more than $97,000 in cryptocurrency from an 89-year-old local man. The Ventura County Sheriff’s Office says the alleged thefts, carried out across more than 80 transactions, were discovered in November after the elderly victim noticed funds missing from his Coinbase account.
Investigation details and charges
According to a sheriff’s office news release, the case began when deputies received a report last November of a theft from an older adult. Investigators determined that the suspect, a 26-year-old Simi Valley man who met the victim through a mutual contact at a senior gathering, had helped the 89-year-old with his phone and assisted in resetting the password for a Coinbase cryptocurrency exchange account.
Authorities say the younger man maintained contact with the elder from June 2024 through September 2025. Financial records gathered by the sheriff’s office, working with the FBI and other partners, showed that more than 80 separate transactions moved funds out of the victim’s Coinbase account into the accused man’s bank accounts and crypto wallets.
On Aug. 4, the suspect was arrested on suspicion of financial elder abuse, grand theft and identity theft. Jail records indicate he posted bail the day of his arrest and has a Ventura County Superior Court hearing scheduled for Aug. 18.
“It’s possible there are more victims,” the sheriff’s office said, and asked anyone with information to contact the investigating deputy.
How the transfers allegedly occurred
- The suspect allegedly assisted the 89-year-old with his phone and Coinbase account, including resetting the account password.
- The Coinbase account was set up to debit directly from a linked bank account.
- More than 80 transactions moved cryptocurrency from the victim’s account into accounts and wallets controlled by the suspect.
The sheriff’s office did not release the suspect’s name in the news release. The department said the investigation included review of financial records and coordination with the Federal Bureau of Investigation and other agencies.
Local impact and next steps
The case highlights risks that local seniors may face when receiving assistance with digital financial tools. Cryptocurrency accounts, because of their pseudonymous and irreversible nature in many cases, can present unique recovery challenges for victims of fraud.
The sheriff’s office is urging anyone with information to contact Senior Deputy Andrew Van Gundy at 805-494-8231. The release also noted the possibility of additional victims, suggesting the investigation remains open.
| Date | Event |
|---|---|
| June 2024–Sept. 2025 | Alleged period of contact between accused and victim |
| November (reported) | Deputies received theft report from an older adult |
| Aug. 4, 2026 | Suspect arrested on suspicion of financial elder abuse, grand theft, identity theft |
| Aug. 18, 2026 | Scheduled Ventura County Superior Court hearing |
Residents who assist elders with technology are reminded to follow basic safeguards: keep account credentials private, use two-factor authentication where available, and involve a trusted third party or financial institution when setting up accounts that can move money. Victims of suspected elder financial abuse should report incidents to law enforcement and consult their financial institutions immediately.
As the case proceeds to court, the sheriff’s office said it will continue to work with federal partners to gather evidence and identify any additional victims. Anyone with information related to the investigation is asked to contact Senior Deputy Van Gundy at the number provided.
