Man Steals $100k in Crypto From T.O. Senior

Prosecutors say the suspect befriended the victim at McDonald's.

Holly Bieler · September 1, 2026 · Thousand Oaks

A 26-year-old man befriended a Thousand Oaks senior, pretending to help him his phone while he surreptitiously [drained the man of more than $100,000,](https://www.vcstar.com/story/news/crime/2026/08/25/simi-man-accused-of-stealing-100k-in-crypto-from-t-o-man-89/91463308007/) according to a new indictment.

Prosecutors allege William Bao Khoa Ly stole $104,000 over 14 months from the victim, an 89-year-old man who lived alone in Thousand Oaks. Ly met the victim at the McDonald's on Moorpark Rd. in June of 2024, during a senior social event. When the victim voiced frustration with his phone, according to court records, Ly offered to help him learn the technology.

Ly began visiting the man two to three times a week, according to the Ventura County District Attorney's Office. During those visits he allegedly obtained the victim's cell phone PIN, using it to access his bank accounts.

Over the next 14 months, prosecutors allege Ly made 91 transactions, moving about $100,000 from the victim's bank account into crypto accounts he owned or controlled. The victim didn't discover the money was missing until September 2025.

The Ventura County Sheriff's Office, working with the FBI, traced the funds to Ly's accounts and cryptocurrency wallets. He was arrested on August 4, charged with felony theft charges with aggravating factors alleging the victim was particularly vulnerable.

He pleaded not guilty this week, and is out on $50,000 bail. His next court date set for September 22.

Prosecutors say the victim was ultimately able to recover $50,000.