Elderly Woman Loses Life Savings in Online Trading Scam

A 79-year-old woman from East Preston has reportedly lost up to £60,000 after falling victim to an online trading scam earlier this year.

Anne Morley signed up for a stocks and shares trading account in March, hoping to earn extra money to cover the cost of home repairs. Just a month later, her trading account was emptied, and police launched an investigation.

Ms Morley’s financial struggles began in 2021 when problems with her roof emerged. After being offered a loft installation under a government scheme, she was approached by a roof surveyor who advised further work. Despite being promised a ten-year guarantee, Ms Morley said the roof began leaking again, forcing her to spend thousands of pounds on repeated repairs.

After her husband passed away in 2023, Ms Morley was left to manage the growing financial burden alone. In March, she came across an advertisement for a trading account that claimed to offer compound interest. After researching the company and finding positive reviews online, she decided to invest.

Initially, the account cost £250 to join. Ms Morley was then encouraged by a “success manager” to deposit an additional £1,000. Over time, she was advised to take out three bank loans totaling £15,000 to increase her trading funds.

The man regularly contacted her by phone and accessed her computer remotely, helping her open new bank accounts and manage the trading platform. At one point, Ms Morley believed she had earned $100,000 in the account. But within days, her account balance dropped to $80,000, then disappeared completely.

In April, a roofer working at Ms Morley’s home noticed suspicious activity on her computer and alerted police. Ms Morley estimates she lost between £50,000 and £60,000.

“It took me about five days to get over the shock,” she said. “I haven’t been sleeping. I now have no roof and no money.”

Ms Morley said her bank has since frozen her accounts and cancelled her cards to prevent further fraud.

“This chap was so damn convincing. I’m not an idiot — it all rang so true,” she said.

She has since launched a Crowdfunder campaign to try to recover some of the money lost.

A Sussex Police spokesperson confirmed: “Police are investigating a report of fraud linked to a victim in the East Preston area. Officers are supporting the victim and working with partner agencies including Action Fraud.”

Ms Morley is now seeking support to complete urgent work on her home.