An Eau Claire woman in her 70s lost $306,000 after a phone scam convinced her to move money into what callers described as a “safeguard” account, according to WEAU.
The case started in January, when the woman contacted Eau Claire police to report fraud. Investigators said the scam began months earlier, in mid-September 2025, after she noticed a $199 bill from a spyware protection company named “IOLO.” After she tried to contact the company about a refund, she received a call from someone claiming to be with the fraud department at U.S. Bank.
The callers told her to move more than $278,000 from one account into her checking account, according to the criminal complaint cited by WEAU. They warned that if she did not keep putting money into a “safeguard” account, she would “lose everything.”
By the time she went to police, investigators said the total loss had reached $306,000.
The Scam Used Couriers, Cashier’s Checks, And Gift Cards
The money did not move in one transaction. WEAU reported that the victim met a courier several times to hand over money, and she also sent cashier’s checks and gift cards as the scam continued.
The “safeguard” account was not protecting her savings, according to the complaint details cited by the station. It was part of the story used to keep her sending money.
A Los Angeles Man Is Facing Felony Charges
Zixuan Yu, a Los Angeles man, is now facing felony charges in the case. WEAU reported that Yu is charged with theft by false representation over $100,000 and money laundering of over $100,000, with both charges carrying increased penalties because the victim is elderly.
The charges remain allegations, and Yu has not been convicted in the Eau Claire case. If convicted, he faces up to 12.5 years in prison, a $25,000 fine, or both, according to WEAU. His next court date is scheduled for August 5.
Rental Car Records Helped Investigators Track The Case
Authorities used GPS rental car records as part of the investigation. Investigators found that Yu’s vehicle was in the area of Chapel Heights United Methodist Church and a residence on Filmore Avenue on the same days the victim said she handed money to a courier, WEAU reported.
Yu was arrested in Buffalo Grove, Illinois, on similar charges. He told investigators he responded to an opportunity posted in a Chinese chat group offering $300 to pick up and deliver a package, and he claimed he did not know what was inside or where it would ultimately go. Detectives said Yu had previously denied picking up or delivering packages, according to the report.
A Real Bank Will Not Send You To A “Safeguard” Account
A real bank fraud department will not tell a customer to withdraw large amounts of money, meet couriers, send cashier’s checks, or buy gift cards to protect an account. The Federal Trade Commission warns that scammers often claim money is at risk and tell victims to move it to protect it, even when the caller claims to be from a bank, government agency, or fraud department.
The safest thing to do is to end the call and contact the bank directly using the number on the back of the card or the bank’s official website. Anyone who has already sent money, cashier’s checks, gift cards, or cash to a courier should contact their bank, local police, and the FTC at ReportFraud.ftc.gov as soon as possible.