A California tech-savvy man is accused of exploiting a friendship that began at a McDonald’s and turning it into a $100,000 cryptocurrency theft targeting an 89-year-old man he had known for more than a year.
William Bao Khoa Ly, 26, of Simi Valley, allegedly met the elderly victim at a McDonald’s in Thousand Oaks sometime between June 2024 and August 2025, presenting himself as someone who could help with phones, banking apps and other electronic devices.
“Ly met the victim in June 2024 at a McDonald’s restaurant in Thousand Oaks. Ly claimed that he
was proficient with electronic devices and could assist the victim with technology,” the Ventura County District Attorney’s Office said in a news release.
What began as an apparent offer of technical help soon developed into a regular pattern of visits, prosecutors said.
“After befriending the victim, Ly began visiting him regularly, approximately two to three times a week. During those visits, Ly allegedly obtained the victim’s cell phone PIN and used it to access the victim’s bank and cryptocurrency accounts,” the release added.
Authorities allege Ly used that access to carry out nearly 91 transactions, moving roughly $100,000 from the victim’s bank account into cryptocurrency accounts he controlled.
The alleged elder financial fraud was eventually flagged by the victim’s bank, which was able to recover more than $50,000, according to prosecutors.
Ly has been charged with felony counts of theft from an elder or dependent adult, grand theft and unauthorized use of personal identifying information. He has pleaded not guilty to all charges.
Ly was arrested Aug. 4 and released about 14 hours later after posting $50,000 bail. He is scheduled to return to Ventura County Superior Court Sept. 22.
Booking records list Ly as 6 feet, 2 inches tall and identify his occupation as a “care salesman” — apparently a typo for car salesman.
The case comes as authorities continue warning about sophisticated scams targeting older Californians.
In July, a Sonoma County woman was reportedly targeted by an organized criminal network specifically looking to prey on elderly victims, according to a community alert.
