Walworth County, WI – Authorities are investigating two complex investment fraud cases that left local families with combined losses exceeding $1.1 million, according to the Walworth County Sheriff’s Office.
According to Undersheriff Tom Hausner, the cases—reported in December 2024 and August 2025—involved sophisticated schemes that persuaded victims to convert large sums of money into cryptocurrency. One victim reportedly lost $770,000 from retirement savings to an entity operating as “G110 Monarch Capital Investments,” while another lost approximately $460,000 through a coordinated romance and investment scam.
Investigators say both cases involved the use of third-party applications to transfer funds into cryptocurrency accounts, where suspects allegedly used “layering” techniques to obscure the movement of money across multiple digital wallets.
Authorities identified that much of the stolen funds were converted into USDC, a cryptocurrency pegged to the U.S. dollar. In one case, more than 460,000 USDC was traced to a digital wallet, while another case identified over 381,000 USDC in a single transfer.
Despite securing court-authorized seizure warrants to freeze the digital assets, officials say Circle Internet Financial LLC has not returned the corresponding funds to victims, citing legal and procedural limitations.
In response, the Walworth County District Attorney’s Office has filed a criminal complaint related to the case and is pursuing further legal action, with a court appearance scheduled for May 5, 2026.
Authorities remind residents to remain cautious of unsolicited investment opportunities and report suspicious activity. All charges referenced are allegations, and involved parties are presumed innocent unless proven guilty in court.
