{"id":452373,"date":"2026-09-03T17:44:35","date_gmt":"2026-09-03T17:44:35","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/452373\/"},"modified":"2026-09-03T17:44:35","modified_gmt":"2026-09-03T17:44:35","slug":"bay-area-woman-drained-of-life-savings-in-fake-charles-schwab-scam","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/452373\/","title":{"rendered":"Bay Area woman drained of life savings in fake Charles Schwab scam"},"content":{"rendered":"

An Oakland woman was shaken down for all she was worth after a scammer posing as a Charles Schwab<\/a> employee called her frantically.<\/p>\n

The woman, Jazz Powell-Loggins, told ABC 7<\/a> the scheme started when she answered a call from an unknown number.<\/p>\n

On the other end of the line, a person began screaming at her and telling her someone was trying to \u201csell\u201d the money out of her account.<\/p>\n

Oakland woman Jazz Powell-Loggins lost her entire life savings to a scammer posing as security for Charles Schwab.<\/p>\n

Powell-Loggins had $12,145 taken from her bank account following the frantic phone call from an unknown person.<\/p>\n

\u201cAnd it was panic, panic immediately. \u2018Hey, some- someone\u2019s trying to sell your money out of your account, and I\u2019m trying to help you. Hey, and by the way, by the way, I\u2019m a representative of Charles Schwab,’\u201d Powell-Loggins said.<\/p>\n

\u201cAnd I said, what do you mean someone \u2013 I said, I don\u2019t understand what. Relax. You\u2019re- I don\u2019t understand. I can\u2019t hear you. And he was really loud, and he kept getting louder. I said, what are you talking about?\u201d<\/p>\n

Powell-Loggins then hung up on the scammer to take a phone call from her doctor. Two minutes later, she saw a haunting notification. The $12,145 in her bank account had been wire transferred out<\/a>.<\/p>\n

Powell-Loggins said she did not give the scammers any information and Charles Schwab isn\u2019t covering her losses. Getty Images<\/p>\n

She had already been struggling with her husband\u2019s cancer, as she is out of work on disability after an injury on the job.<\/p>\n

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\u201cThat was devastating for me,\u201d Powell-Loggins said, \u201cbecause I\u2026 my job was to make sure that my son got out of college with no debt and to help him fulfill his dreams.\u201d<\/p>\n

She had already been struggling with her husband\u2019s battle with cancer, as she is out of work on disability after an injury on the job at a big-box warehouse store. And now her bank account had just been emptied out<\/a>.<\/p>\n

Charles Schwab denied her any compensation when she appealed, claiming she provided a \u201cverification code to a third party, allowing them to complete the wire.\u201d<\/p>\n

She told ABC 7 that she did not give the scammers any information<\/a> and doesn\u2019t understand why Charles Schwab isn\u2019t covering her losses.<\/p>\n

\u201cI\u2019ve shown nothing but integrity and hung out with this company. And for them to tell me, we believe you have something to do with it. We\u2019re not giving you back a dime. Good riddance. That was devastating to me,\u201d she said.<\/p>\n

The company said it sympathizes with Powell-Loggins.<\/p>\n

Charles Schwab said it sympathizes with Powell-Loggins.<\/p>\n

\u201cWe sympathize with Ms. Powell-Loggins, whose experience is an unfortunate example of growing imposter fraud\u2026 We advise our clients to be cautious, stay vigilant, protect their personal information,\u201d they wrote to ABC 7.<\/p>\n

Jasika Bawa, Project Lead for Google\u2019s Chrome Security<\/a>, told ABC 7 that the phone call may have been a diversionary tactic while the woman\u2019s account was raided.<\/p>\n

\u201cThere might be informational alerts from the bank that would say, \u2018Hey, by the way, like, you know, $1,000 was just moved from this place to another,’\u201d Bawa said. \u201cBut while you\u2019re on the phone, you know, being bombarded with this, like, stressful information from the attacker, you might miss that kind of information.\u201d<\/p>\n

The attacker may have also brute-forced their way into the account, Bawa said.<\/p>\n

\u201cI would just say, many pins are very short, like four digits. It can even be brute-forced by an attacker. By brute-forced, we mean they can just guess pins one after another, because they\u2019re a bit too short,\u201d Bawa said.<\/p>\n

Powell-Loggins plans to take her case to arbitration and has contacted the police and the FBI.<\/p>\n

The funds went to a bank in Ohio, according to ABC 7.<\/p>\n

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