Brevard Sheriff’s Economic Crimes Task Force Recovers $1.7 Million in Real Estate Fraud Case

Perps tricked the buyer into transferring the purchase amount into fraudulent account

BREVARD COUNTY, FLORIDA – The Brevard County Sheriff’s Office Economic Crimes Task Force successfully recovered more than $1.7 million after a sophisticated real estate fraud threatened to steal the funds from a Space Coast resident.

“These scammers stop at nothing to take hard-earned money from our citizens, but thankfully, we have an amazing Economic Crimes Task Force that works harder than the bad guys,” said Sheriff Wayne Ivey.

The incident began on July 8, when the Sheriff’s Office received a report of a Business Email Compromise involving a property transaction totaling $1,725,014.85.

Hackers had infiltrated an active email thread between the buyer and parties involved in the sale. By impersonating the sellers and altering wiring instructions, the suspects tricked the buyer into transferring the entire purchase amount into a fraudulent account.

The criminals then quickly moved $750,000 into an additional account at the same financial institution to conceal and secure the stolen funds.

The victim discovered the fraud within hours and immediately contacted the bank, where he was initially told it was unlikely the money could be retrieved. Refusing to give up, the victim also contacted the Brevard County Sheriff’s Office.

The BCSO Economic Crimes Task Force immediately launched an investigation and partnered with the bank’s fraud investigators.

Through swift action and close coordination, law enforcement and the financial institution traced and froze the funds. By 10 p.m. the same evening, the full amount was successfully recovered and returned to the rightful owner.

This case highlights the importance of rapid reporting and strong collaboration between law enforcement and financial institutions.

The quick actions of the victim, combined with the dedication and expertise of the Economic Crimes Task Force, prevented a devastating financial loss.

“I want to take this opportunity to remind everyone to remain vigilant against cyber and financial crimes and routinely check your accounts and transactions,” said Sheriff Ivey.

“If you or someone you know becomes a victim of a financial cybercrime, call us and your bank immediately to help with recovering your money. Incredible job by our Economic Crimes Task Force for not only this case, but unfortunately, the many frauds they work each year, where our citizens are targeted by criminals.”

Similar Stories