Elderly Woman Loses $306,000 in Safeguard Account Scam Linked to Spyware Bill

• •An elderly woman lost $306,000 in a phone scam involving a fake 'safeguard' account.
• •The scam was initiated after she noticed a $199 spyware bill from IOLO.
• •Zixuan Yu faces felony charges, with evidence linking him to the scam through GPS data.

An Eau Claire woman in her 70s fell victim to a phone scam, losing $306,000 after being misled into transferring funds to a so-called 'safeguard' account. The scam began in September 2025 when she noticed a $199 charge from a spyware company, IOLO. After seeking a refund, she received calls from individuals posing as U.S. Bank fraud department representatives. They instructed her to move large sums of money under the threat of losing everything. The victim met couriers multiple times to hand over cash, cashier's checks, and gift cards. Zixuan Yu, a suspect in the case, faces felony charges including theft and money laundering, with a court date set for August 5, 2026. Authorities utilized GPS data to connect Yu to the crime, which highlights the tactics used by scammers to exploit vulnerable individuals. The Federal Trade Commission advises against following such instructions from callers claiming to be from financial institutions.