A retired California couple who spent nearly four decades building equity in their family home now face financial ruin after scammers posing as FBI agents allegedly stole almost $850,000 through an elaborate cryptocurrency fraud scheme that authorities say reflects a rapidly growing national trend targeting older Americans.
Covina residents Peter and Diane Hata lost their retirement savings, IRA funds and proceeds from a home equity loan after fraudsters convinced them they were under federal investigation and needed to transfer money into cryptocurrency accounts supposedly controlled by law enforcement.
The losses were so severe that, according to a GoFundMe campaign created by friends, bankruptcy attorneys later informed the couple they could not qualify for bankruptcy protection because of the value of the home they have owned for 37 years.
Peter Hata, 75, is a retired minister. Diane Hata is a retired teacher. Friends say the financial devastation has left the couple struggling to make interest payments tied to the loans they were persuaded to take out during the scam. Diane has since reportedly been diagnosed with depression and anxiety.
The operation began in February 2025 with what appeared to be a legitimate call from the United States Postal Service, according to reporting by KTLA. The scammers then escalated the deception through video calls in which individuals allegedly dressed as FBI agents appeared in front of what looked like a federal detention facility.
The callers presented forged legal documents claiming a bank manager in New York had stolen the couple's identities and used them to create fraudulent financial accounts. According to the GoFundMe description, the Hatas were warned they could face prison sentences of three to seven years if they discussed the matter with anyone.
For months, the couple reportedly stayed silent, believing they were participating in a confidential federal investigation.
The scammers eventually proposed what they described as a "priority investigation" that would clear the couple within 10 days if they agreed to "digitise" their assets so authorities could electronically trace the origin of the money.
Over time, Peter and Diane liquidated retirement accounts, emptied IRA savings and borrowed against their home. They then converted the funds into cryptocurrency and transferred the assets into digital wallets they believed belonged to the FBI.
"These actors were extremely slick, extremely convincing," Peter told KTLA. "In the first video call, he was wearing an FBI jacket with an FBI badge in what looked like an FBI detention room."
The fraud only became clear after the calls suddenly stopped. When the couple later contacted the FBI's New York field office directly, they were informed the agents they had been communicating with did not exist.
No arrests have been announced.
The Hata case comes as government impersonation scams and crypto fraud continue rising sharply across the United States, particularly among senior citizens. According to the FBI's 2025 Internet Crime Report, Americans filed more than 32,000 complaints involving government impersonation schemes last year, with losses totaling roughly $798 million.
The report showed fraud losses among Americans aged 60 and older surged to approximately $7.7 billion nationwide, representing a 37% increase from the prior year.
California recorded the highest losses in the country:
- More than 22,000 fraud complaints filed by seniors
- Roughly $1.4 billion in reported losses
- Cryptocurrency involved in a substantial share of cases
Nationwide, crypto-related fraud accounted for $11.3 billion of the $20.8 billion in total reported fraud losses, according to the FBI data.
