Mom, 71, lost $600K to a scam 10 years ago and gave financial control to her daughter — who now refuses to give it back

Mom, 71, lost $600K to a scam 10 years ago and gave financial control to her daughter — who now refuses to give it back
About a decade ago, Marie from Phoenix says she was swindled out of $600,000 over the course of three years as part of a romance scam.
“Lost all my money, my house, my car, my jewelry,” she revealed on The Ramsey Show in a clip posted March 2 (1). “It was considerable, and that’s why I’m still working at 71.”
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As part of her recovery plan, Marie’s daughter agreed to step in and take control of her finances, including her Social Security payments. Marie gets a monthly allowance to cover things like groceries, gas and medication. She gets paid when rent is due. If any unexpected expenses crop up, such as a car repair, she’ll receive an extra transfer.
Now, Marie says she wants her independence back. She’s managed to save $200,000 under this arrangement and wants to put a down payment on a condo or townhouse. But her daughter is worried that she might fall for another scam and end up penniless again.
“I want this arrangement to stop,” Marie said. “I’ve asked her several times and she’s just not inclined to do so — she still doesn’t trust me.”
Marie wants to know how she can regain financial control without destroying her relationship with her daughter, or “should I just suck it up and continue with our arrangement?”
Rise of romance scams
Millions of older adults may be subject to online romance scams, according to a recent survey from AARP (2). Nearly one in 10 of respondents aged 50-plus say they’ve experienced an “online romantic approach” that led to a request for money or encouragement to invest to cryptocurrency. The risk is doubled for those between the ages of 50 and 64.
Confidence and romance scams are common among adults aged 60-plus. According to the FBI, online victims in this demographic filed 7,626 complaints for losses of nearly $390 million in 2024.
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Fraudsters can initiate contact on dating apps or social media, warns the Federal Trade Commission (FTC). They use social engineering techniques to build trust and intimacy, often over a long period of time. But they always have an excuse for why they can’t meet up in person. For example, they might say they’re deployed on a military base overseas, working on an offshore oil rig or running a construction project outside of the U.S. They make plans to meet up in person and maybe even propose marriage, but those plans never materialize.