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CNNMoney exposes company that has processed tens of millions of dollars in global fraud

Born out of CNNMoney’s award-winning series that unraveled the massive $200 million Maria Duval psychic scam, a new months-long investigation exposes how a little-known company named PacNet has processed millions of dollars raked in by global mail schemes.

The frauds target the sick and elderly — leaving them with nothing. While con artists perpetrate the scams, PacNet deposits the checks.

As part of their exclusive investigation, CNNMoney Senior Writers Blake Ellis and Melanie Hicken broke the news of an unprecedented crackdown by the U.S. government against PacNet and the companies with which it works. The government says PacNet is part of an international network that has stolen hundreds of millions of dollars from millions of elderly victims.

While PacNet says it has never knowingly processed payments for scammers and that it does everything in its power to prevent fraud, CNNMoney has found that it has repeatedly given scammers the crucial ability to get their hands on money from victims.

In addition, CNNMoney’s multi-part investigation tells the stories of some of these victims whose checks to scammers were cashed by PacNet: