What happened: Federal prosecutors charged Daejon Labrayae Love, 35, and Taylor Jamie Chan, 18, with conspiracy to commit wire fraud and wire fraud. Authorities allege Love promoted fictitious investments while Chan posed as his financial adviser.
Why it matters: Prosecutors say the scheme ran from February 2022 until their Aug. 24 arrests and targeted women in California, Idaho, Oregon and Washington. Both defendants are presumed innocent unless proven guilty.
By the numbers: The alleged proceeds average about $50,000 per identified victim, though individual losses may differ.
What to watch: The case moves through federal court in Oregon as the FBI seeks information from additional potential victims.