Connecticut woman loses $900K in retirement savings to romance scammer who steered her into crypto
Connecticut woman loses $900K in retirement savings to romance scammer who steered her into crypto.
Jackie Crenshaw thought she was entering a new chapter of her life.
By 59, the Connecticut woman had built the kind of financial foundation many people hope for before retirement. She was earning six figures as the senior manager of breast imaging at a cancer hospital, saving 15% of her income and watching her 401(k) grow.
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She wasn't just thinking about retirement — she was starting to imagine what life might look like with a romantic partner. With a friend's encouragement, she created a profile on BLK, a dating app for Black American singles, hoping to find a companion to share the next stage of life with.
Instead, the relationship she thought she could have eventually cost her nearly $900,000. And the damage didn't just hit her savings. It changed when — and if — she could afford to retire.
"I have no idea when I will be able to retire," Crenshaw said in an interview (1) with Business Insider . "[Now], my home is in jeopardy."
Her story is a reminder that romance scams aren't just emotional betrayals. For older adults, they can become devastating financial crimes that wipe out decades of careful saving.
According to data (2) from the Federal Trade Commission (FTC), consumers reported losing more than $1.4 billion to romance scams in 2025, making it one of the most costly categories of fraud. Older adults are often targeted because they may have accumulated savings, home equity and retirement assets.
Shortly before her 60th birthday in 2023, Crenshaw connected with a man who called himself Brad Miller.
He said he was a 49-year-old widower with two sons and worked as a contractor. After a few weeks of chatting on the dating site, they progressed to texts and phone calls.
Brad asked for her address so he could send birthday flowers. He ordered meals to her home when he knew she was working long hours. He talked about buying a house together someday. They even prayed together.
But whenever they made plans to meet, something would come up. Work would get in the way, and Brad would cancel. Each time, he sent a gift instead — a necklace, a customized pillow — keeping the connection alive. Eventually, the conversations turned to money.
Brad introduced her to someone he called his broker, Maximilian, who helped her set up a cryptocurrency wallet. Crenshaw transferred $40,000 from her 401(k) into crypto.
"I got caught up in the excitement as the numbers on the statements appeared to increase," she told Business Insider .
Brad sent screenshots of his own crypto account that appeared to show millions of dollars. "It looked convincing then, but, of course, I now know everything was fake," Crenshaw said. "I was the victim of a massive, widespread scam known as 'pig butchering.' "
This type of scam typically combines romance, fake investments and psychological manipulation. Scammers build trust over weeks or months before steering victims toward fraudulent platforms or accounts. And, as Brad and Maximilian gained her trust, Crenshaw withdrew hundreds of thousands from her retirement and savings accounts and took out a home equity loan on her condo.
