ELIZABETH, Colo. — A Colorado author is sharing his story after falling victim to a sophisticated scam that blended romance and fake crypto investments, costing him nearly $160,000 — his entire life savings.
Josh Kern, a fantasy author with 24+ books to his name, was drawn into the scam while working on his latest novel. What began as a promising online romance soon spiraled into a financial nightmare.
Romance Turned Investment Trap
Kern met the woman on a dating app. “We got along,” he said. “Eventually, we moved to WhatsApp, which is normal.” The woman seemed genuine, even video chatting early on, something Kern believed ruled out typical scams.
Their conversations eventually turned to investments, with the woman recommending a cryptocurrency platform she claimed to use. Kern, who already dabbled in stocks and dividends, saw no red flags.
He started small — $5,000, followed by a few thousand more. Encouraged by seemingly legitimate returns, he invested up to $20,000. “I was enamored with her. She was out of my league,” Kern admitted. “And I was seeing a major return on my investment.”
$100K Lost, Then a Second Scam
Eventually, Kern had invested over $100,000. But when he tried to withdraw his funds, the account was frozen. After confronting her, the woman vanished.
Trying to recover his losses, Kern searched for a “scam recovery” service online — only to fall victim again. He borrowed $50,000 from family, including his parents’ retirement fund, to pay the so-called recovery team.
“That website was a scam, too,” Kern said. “It doesn’t exist anymore. And there’s nothing I can do.”
No Help from Authorities
Kern filed reports with the FBI, Federal Trade Commission, Colorado Attorney General, and other agencies — but says he received no response.
He now owes nearly $160,000, and his priority is repaying his parents. “That was my entire life savings,” he said. “And I got my parents involved.”
Despite everything, Kern still hopes for a relationship someday but admits trust will be hard.
The Rising Tide of Scams
According to the FBI, romance and investment scams were among the top 10 most-reported scams in 2024:
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$672 million lost to romance or “confidence” scams
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$6.57 billion lost to investment scams
Most victims don’t report these crimes due to shame or uncertainty, officials say.
FBI Tips to Avoid Romance Scams
The FBI urges people to follow these safety guidelines:
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Never send money to someone you’ve only met online.
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Go slow and ask lots of questions.
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Research their name and photo.
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Never share banking info with someone online.
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Report scams — even if you can’t recover funds.
To report fraud:
Kern’s story highlights how scams today are more sophisticated and layered. “They don’t just ask for a gift card anymore,” he said. “They reel you in over months — and then hit you with a second scam so you barely realize what’s happening.”
Now, he hopes his experience will help others stay alert — and avoid the painful path he walked.
This article has been carefully fact-checked by our editorial team to ensure accuracy and eliminate any misleading information. We are committed to maintaining the highest standards of integrity in our content.
Katie is a senior who has been on staff for three years. Her favorite type of stories to write is reviews and features. Katie’s favorite ice cream flavor is strawberry.
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