William Bao Khoa Ly of Simi Valley Charged In Connection With Elder Fraud Scheme
VENTURA COUNTY, Calif. (KEYT) – William Bao Khoa Ly, 26, of Simi Valley has been charged with multiple felonies after allegedly stealing almost $100,000 from a local 89-year-old he befriended at a Thousand Oaks McDonald's.
Ly is facing felony counts of theft from an elder or dependent adult, grand theft, and unauthorized use of personal identifying information as well as the aggravating factors that the victim was notably vulnerable and the crime were carried out in a way that implies professionalism shared the Ventura County District Attorney's Office in a press release Tuesday.
On Aug. 18 of this year, Ly was arraigned on the above charges and pled not guilty to all counts noted the local prosecutor's office.
Ly met the 89-year-old Thousand Oaks man at a McDonald's in June of 2024 and allegedly claimed he was proficient with electronic devices and could help the elderly man with technology stated local prosecutors.
The pair became friends and Ly began to visit the man regularly, around two to three times a week, and during those visits, the 26-year-old is alleged to have obtained the victim's cell phone PIN and used it to access his bank and cryptocurrency accounts detailed the Ventura County District Attorney's Office.
Between June of 2024 through August 2025, Ly allegedly conducted 91 separate transactions transferring money from the victim's bank account into cryptocurrency accounts controlled by the 26-year-old explained prosecutors.
The transactions added up to almost $100,000, but the 89-year-old's bak was able to recover more than $50,000 after detecting the scheme shared the Ventura County District Attorney's Office.
Investigators believe there may be additional victims who have not been identified. If you or someone you know may have been a victim or have more information that could help in this investigation, you are asked to contact the Ventura County Sheriff's Office Senior Deputy Andrew Van Gundy at 805-494-8231.
Ly is currently scheduled for an early disposition conference on Sep. 22, 2026, and he remains out of custody on a $50,000 bail noted the Ventura County District Attorney's Office.
"This case is a stark reminder that financial predators can use friendship and trust as a means to
gain access to a person's finances," Chief Investigator Scott Whitney shared. "We encourage
everyone, especially those with vulnerable family members, to be cautious about who they allow
access to their phones, passwords, PINs and financial accounts."
