NORTH BRANFORD, CT — An Atlanta resident is facing charges after police linked him to an alleged $50,000 fraud scheme that targeted a 70-year-old victim.
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The North Branford Police Department in Connecticut announced Thursday that Thomas Lloyd IV surrendered to authorities after detectives identified him during a months-long financial fraud investigation.
The case began on April 27 when a 70-year-old Connecticut resident reported being swindled out of $50,000.
According to authorities, the victim first received a text message about a suspicious charge at a Walmart in Miami, Fla. After responding that the transaction was unauthorized, the victim received a phone call from someone claiming to be assisting with a fraud investigation.
Police said the caller asked the victim which bank they used and then claimed a branch manager was under investigation. The victim was instructed to go to a bank branch and was told they would meet with FBI agents.
Investigators said the caller instructed the victim not to discuss the matter with anyone and directed them to wire $50,000 to a PNC Bank account.
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The victim later became suspicious and contacted the bank’s fraud department. Authorities said the money, which came from a family member’s estate account, was ultimately transferred despite efforts to stop the transaction.
Detectives executed multiple search warrants and reviewed financial and law enforcement records during the investigation.
Police said officials identified Lloyd, a New Jersey native now living in Atlanta, as a suspect in the case.
Lloyd surrendered to the North Branford Police Department on Thursday and was charged with first-degree larceny and conspiracy to commit first-degree telephone fraud.
He was transported to New Haven Superior Court for arraignment after being unable to post bond.
“It does not matter where you decide to live after committing a crime in North Branford,” Police Chief Kevin Lovelace said in a statement. “If you commit a crime against one of our residents or businesses, living out of state does not make the investigation go away.”
The investigation remains ongoing.
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