Man Posing As Elon Musk Defrauds Elderly Texas Woman Of $250K, Police Continue Search For Stolen Money

A Florida man was arrested last night for impersonating tech billionaire Elon Musk in a scam that defrauded an elderly woman out of a large amount of money. Jeffrey Arthur Moynihan Jr., 56, was apprehended in his Bradenton residence after authorities linked him with a fraudulent operation wherein he promised a Texas woman a substantial return on investment.

The Impersonation Scheme

Moynihan, under the guise of Elon Musk, contacted the 74-year-old Texas resident via Facebook in 2023. Posing as the SpaceX CEO, Moynihan promised the victim a $55 million return on an investment, but instead scammed her out of at least a quarter of a million dollars. The woman’s husband later reported that she had transferred around $600,000 in total.

Victim’s Belief in Musk’s Authenticity

She thought she was corresponding with the real Elon Musk; he was a buddy. And the scammer managed to keep her interested in seeing how the scam played out, referencing real news about the billionaire’s everyday activities. Police bodycam footage captures Moynihan’s arrest and interrogation on suspicion of committing the alleged crime, where he appears frustrated by the grand theft accusations.

A Virtual Romance Behind the Scam

Moynihan allegedly said the $250,000 he got was to be used for a girlfriend whom he claimed to have a virtual relationship with. Police believe he, too, might have been a victim of another scam, though their extent of action remains to be investigated.

Bradenton Police Clarify Musk’s Involvement

The real Elon Musk confirmed through the Bradenton Police Department not to be involved in the case. The police investigation is being led by Police Detective Jim Curulla, who received reports from Frisco, Texas, concerning a victim who had been defrauded by someone impersonating Musk. According to the police, Musk’s time is occupied with SpaceX projects and has no relation with the scam.

Trace The Stolen Money

Further investigation revealed that the stolen money had been directed to local accounts in some of the Bradenton banks. Moynihan had deposited large sums into accounts associated with his business, Jeff’s Painting and Pressure Washing LLC. They are also working with Texas officials in an effort to locate the balance of the victim’s funds.

Ongoing Investigations

The rest of the stolen money has yet to be traced by the Texas local authorities, who are pursuing the case. Such cases really prove the dangers of online scams and how impersonation crimes are actually growing and taking advantage of unsuspecting victims.

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