ROCKY HILL, CT — A 77-year-old man was scammed out of $257,000 over the past year by criminals posing as PayPal representatives and federal agents, according to Rocky Hill police.
The elaborate fraud ended in a sting operation on September 9 that led to the arrest of Dmytro Olkhovski, a 30-year-old Ukrainian national living in Brooklyn, New York. Police say Olkhovski showed up at a CVS parking lot on Main Street to pick up what he thought was $30,000 in cash. Instead, he found a decoy box filled with movie prop money — and was promptly arrested.
Olkhovski now faces a charge of criminal attempt at first-degree larceny and is being held on a $100,000 bond.
The victim first encountered the scammers in August 2024, after making a routine $14.97 PayPal transaction. He received what looked like a duplicate billing email and called the number listed — unknowingly connecting with a scammer who warned him he was being hacked.
The caller, claiming to be from PayPal’s “security department,” convinced the man that his savings were at risk and needed to be “safeguarded” in a secure government account. Following the caller’s instructions, the victim withdrew large sums of money and delivered them in cash to individuals he believed were federal agents. Each handoff was carefully orchestrated, requiring photos of the cash, the box used to transport it, and his vehicle. At each drop, someone would collect the package after using a specific password.
Over the course of a year, the man drained his savings, certificates of deposit, and 401(k). He even refinanced his home and borrowed from friends and family, all in a desperate effort to protect what he believed were vulnerable assets.
Eventually, the victim grew suspicious and contacted authorities. Working with police, he participated in a controlled drop that led to Olkhovski’s arrest.
During questioning, Olkhovski told police he had fled Ukraine due to the war and had been taking odd jobs in Brooklyn. He said a man named Bill, whom he met near a Target store, offered him $500 per cash pickup. Police say Olkhovski admitted to at least two previous collections.
Authorities are continuing to investigate the scam and are searching for others involved, including the person who impersonated the federal agent.
