NorCal man accused of $100K crypto scam after befriending elderly man

A California tech whiz allegedly turned a McDonald’s friendship into a $100,000 crypto heist — targeting an 89-year-old man he befriended over more than a year.

William Bao Khoa Ly, 26, of Simi Valley, met the elderly man at a Thousand Oaks McDonald’s between June 2024 and August 2025 and offered to help him with his 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.

The alleged friendship quickly became a regular routine.

“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 on.

Prosecutors allege Ly then used that access to make nearly 91 transactions totaling about $100,000 from the victim’s bank account into cryptocurrency accounts controlled by Ly.

The victim’s bank caught the alleged fraud and managed to recover more than $50,000.

Ly was charged with “felony counts of theft from an elder or depending adult, grand theft, and unauthorized use of personal identifying information.” He pleaded not guilty to all of the 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.

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