GATLINBURG, Tenn. — Michele Mason with the Better Business Bureau of Chattanooga said the agency has seen an uptick in investment scams.
"The Federal Trade Commission reported for a few years in a row, a little over $10 billion in reported fraud, and then they jumped up to 12.5% last year with investment scams making up a big chunk of that," said Mason.
Gatlinburg Police Chief Ronnie Barrett says last month a Gatlinburg man fell for that exact scam.
Chief Barrett said, "our victim was contacted by a what he believed to be a female on social media and just created a friendship."
Police said the man gave over $200,000 to be invested and that the scammer kept updating the victim telling hi it was up to $1.4 million.
Chief Barret added, "he (victim) said, you know, I want cash out. They