Bradenton Man Arrested in $250K Elder Fraud Scheme Posing as “Elon Musk”

The Bradenton Police Department’s Elder Fraud Unit has arrested Jeffrey Moynihan, Jr., a 56-year-old Bradenton resident and business owner, for allegedly scamming an elderly Texas woman out of $250,000 by impersonating tech mogul Elon Musk online.

According to investigators, the 74-year-old victim befriended a person claiming to be Musk on Facebook in 2023. Over several months, the victim was encouraged to invest in supposed business ventures linked to the Tesla and SpaceX CEO, with promises of an extraordinary $55 million return. Financial records reveal that the victim transferred $250,000 to accounts controlled by Moynihan and his business, Jeff’s Painting and Pressure Washing, LLC.

However, the losses may extend far beyond the confirmed amount. The victim’s husband told investigators that his wife had given the impersonator as much as $600,000.

Moynihan was taken into custody at his Bradenton home on Tuesday, Nov. 19, and faces charges of grand theft. The real Elon Musk, occupied with SpaceX’s latest launch, has no connection to the scheme and is not under investigation by Bradenton authorities.

This arrest highlights the growing problem of elder fraud, which has resulted in nearly $3 million in reported losses among Bradenton victims over the age of 60 so far this year. The Bradenton Police Department urges the community to remain vigilant against scams and offers resources to help protect seniors and their families.

For more information about the Elder Fraud Unit and tips for preventing scams, visit bradentonpd.com/elder-fraud-unit.