The Ventura County Sheriff’s Office on Tuesday announced the arrest of a Thousand Oaks man accused of stealing more than $97,000 from an 89-year-old acquaintance by accessing the victim’s cryptocurrency account and transferring funds into accounts tied to the suspect.
Investigation and arrest
According to investigators, the case began with a report to the Ventura County Sheriff’s Office East County Investigations Bureau in November 2025 alleging a financial theft from an elderly resident. Detectives determined the suspect, identified as (S) William Ly, had been introduced to the victim at a local retired gentlemen’s breakfast club and maintained a friendship from June 2024 to September 2025.
During that period, authorities say Ly helped the victim optimize his phone and reset the password for the victim’s Coinbase cryptocurrency exchange account. The victim later discovered that substantial sums were missing from his bank account and Coinbase account after more than 80 separate transactions transferred funds into accounts and cryptocurrency wallets belonging to Ly.
PC 368(d)(1) – Financial Elder Abuse, PC 487(a) – Grand Theft, and PC 530.5(a) – Identity Theft.
On Aug. 4, 2026, Ly was arrested on charges that include financial elder abuse, grand theft and identity theft. The Ventura County Sheriff’s Office financial crimes detectives worked with the FBI and the Ventura County Fraud Working Group to obtain and review financial records related to the alleged theft.
Scope, potential additional victims and outreach
Records provided to investigators purportedly show more than $97,000 was taken in over 80 transactions and deposited into accounts and wallets associated with Ly. Authorities said it is possible there are additional victims who have not yet been identified and urged anyone who believes they may have been targeted to come forward.
- Alleged loss: $97,000+
- Number of transactions: more than 80
- Victim age: 89
- Arrest date: Aug. 4, 2026
Investigators encourage anyone with information to contact Sr. Deputy Andrew Van Gundy at 805-494-8231. The sheriff’s office also thanked members of the public for their ongoing support in reporting suspected fraud.
Regional collaboration
The Ventura County Fraud Working Group, which assisted in the case, is a multiagency partnership that combines law enforcement and prosecutorial resources across the region. Members listed in the announcement include detectives and officials from:
| Agency | Role |
|---|---|
| Ventura County Sheriff’s Office | Investigations, financial crimes detectives |
| FBI | Federal investigative support |
| Oxnard Police Department | Partner agency |
| Ventura Police Department | Partner agency |
| Ventura County District Attorney’s Office | Prosecution |
| Santa Barbara District Attorney’s Office | Prosecution support |
| Secret Service & IRS | Financial crime expertise |
Local advocates and law enforcement have increasingly warned about schemes that target older adults, including those that use technology and cryptocurrency to obscure transfers. The sheriff’s office statement did not provide additional detail about the manner in which the transfers were authorized or whether civil remedies are being pursued.
As the investigation proceeds, the sheriff’s office reiterated that residents who suspect they or loved ones have been victimized should report incidents. Detectives said tips and records from the public can be critical in identifying additional victims and tracing assets tied to alleged schemes.
This case is being handled by the Ventura County Sheriff’s Office with assistance from federal and regional partners; charges have been filed and the arrest made as described in the agency release.
