Court documents say Phil and Nicole Scolaro told two Colorado women they were partial owners of a gold mine in Africa and took their money.
EL PASO COUNTY, Colo. — A couple living in Florida scammed two elderly Colorado women out of millions, according to a 17-page grand jury indictment out of El Paso County.
Court documents said Phil and Nicole Scolaro face five felony charges, including fraud and theft.
The state said the Scolaros made their victims believe they were owners of a working gold mine in Africa. They were able to persuade two women to send them money in exchange for “partial ownership,” totaling more than $4 million.
“Everybody falls victim to a scam, if you like it or not,” Douglas County Sheriff’s Office Senior Resource Deputy Ryan Falkner said. “You’re just in denial if you haven’t fell victim.”
Though anyone can be a victim of a scam regardless of age, Falkner said seniors are often targets for a number of reasons.
WATCH: Bodycam video shows the arrests of Phil and Nicole Scolaro.
“Our older adults are more trusting,” Falkner explained. “Scammers are betting they aren’t so tech-savvy. And just common sense. The longer you are in this world, the more time you have to accumulate money and save money so they’re thinking your pocketbooks are maybe a little bit deeper than a younger person.”
Falkner’s role at the agency is to help teach older people how to spot red flags in potential scams. He said he uses two acronyms:
SCAM
- Stop
- Call somebody
- Ask informed
- Make an informed decision
STOP
- S-is it suspicious? (bad grammar or different lingo, for example)
- T-is it telling me to click a link?
- O-is it offering me something amazing? (lottery, etc.)
- P-is it pressuring me to act fast? (“act now”)
Falkner said scams often go unreported because victims are embarrassed to tell others what happened. He said people should establish relationships with their older family members to make sure they feel comfortable enough to tell them when they feel they may have made a mistake.
He said the quicker law enforcement can be notified, the better to save a person’s money.
“It’s just helping those that do fall victim into doing the proper steps,” Falkner said. “Notifying the banks, stopping the money from leaving and then notifying law enforcement.”
The Scolaros are being held in El Paso County jail on a combined $1 million bond. Their next court appearance is scheduled for Dec. 4.