WASHINGTON, D.C. – U.S. Attorney Jeanine Pirro has launched a new initiative called the Strikeforce to combat Chinese organized crime and cryptocurrency investment fraud schemes.

Pirro emphasized the severe impact of these scams on older Americans.

"The consequence of these scams are devastating. Older Americans in particular are targets of these scams many of them lonely many of them looking to speak to someone who communicates with them. Their entire life savings gone. Their retirement funds gone. Left with no opportunity to go back into the workforce and to re-earn money," said Pirro.

The State Department has also taken action by sanctioning five people and three organizations in Southeast Asia. These groups are accused of operating forced labor compounds that execute fake investment

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