A 67-year-old Florida man says a nearly yearlong romance and investment scheme took more than $700,000 and erased the financial security he spent most of his adult life building.
Karl Geissler said a woman calling herself “Aileen” gained his trust through daily conversations before introducing him to an online investment platform that appeared to generate substantial returns.
He continued sending money as the displayed balance grew, eventually using his savings and selling personal belongings and his vehicle.
Geissler later concluded that the profits were not real and that the money he transferred was gone.
Daily Conversations Built Trust for Nearly a Year
Geissler has lived in Jupiter for almost three decades, according to WPBF. In an online fundraiser describing the loss, he said he worked two jobs for 45 years, paid off his home and bills and accumulated the savings he expected to rely on later in life.
The woman he knew as Aileen claimed to live in Los Angeles and said she was originally from Singapore. Geissler said they communicated daily as the person behind the account gradually developed a romantic relationship with him.
Geissler eventually traveled to Houston and briefly met the woman he believed was Aileen. The face-to-face meeting gave him another reason to believe that the relationship and investment opportunity were genuine.
After gaining Geissler’s confidence, the people involved introduced him to what appeared to be a legitimate investment opportunity. The online platform displayed returns that made it look as though his account was becoming increasingly profitable. Those apparent gains encouraged him to continue investing larger amounts.
He Sold His Vehicle and Other Belongings
Geissler said he ultimately committed his savings and sold personal belongings and his vehicle as the operation continued for nearly a year. He placed his total loss above $700,000.
He now relies on a bicycle for transportation and is searching for employment at 67. Geissler created an online fundraiser seeking help with housing and basic financial stability while he attempts to rebuild.
Geissler said he reported the loss to local law enforcement. He said he shared his experience publicly while searching for work and attempting to rebuild without the savings and vehicle he previously owned. No arrest or identified suspect had been announced in connection with his case.
Stop Transaction and Report It
Before sending money, investors can independently research the company and the person promoting it through the SEC’s Investor.gov search tools and FINRA’s BrokerCheck database.
