A 78-year-old Texas couple were tricked into depositing $20,000 at a Chase branch while a caller posing as a bank employee stayed on the line, investigators say. Bank records traced the deposit to an SB94 LLC account in Coconut Creek, Florida, linked to 31‑year‑old Stephan Kofi Bio, who was arrested June 3. Authorities say multiple Zelle transfers from the account suggest there may be other victims, and they urge customers to hang up and verify suspicious calls through official bank channels.
78-Year-Old Texas Couple Duped Into $20,000 'Bank Test' Deposit — Florida Man Arrested
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A 78-year-old Texas couple say they were trying to help their bank detect fraud when a caller impersonating a bank employee persuaded them to deposit $20,000 while remaining on the phone, investigators report.
According to a Coconut Creek Police Department arrest affidavit cited by Coconut Creek Talk, the couple received a call from someone claiming to be a bank representative who warned of internal fraud at their financial institution. Instead of demanding gift cards or cryptocurrency, the caller instructed the couple to go to a real Chase branch in Dallas and perform a so-called "test" or "roofing" transaction while staying on the line.
Believing they were protecting their savings, the couple withdrew $20,000 from a USAA account and deposited it into a Chase account as the caller monitored the transaction, the affidavit says. Bank subpoenas later showed the recipient account was held by an entity named SB94 LLC, which listed 31-year-old Stephan Kofi Bio as the account holder.
Detectives traced the funds more than 1,300 miles from Dallas to Coconut Creek, Florida. Investigators say the $20,000 deposit was followed by multiple Zelle transfers to different people, prompting a probe into whether there are additional victims.
Court records cited by Coconut Creek Talk say detectives contacted Bio in April 2025. Authorities report that Bio acknowledged the account belonged to him and said the money was tied to his music business, but he did not provide documentation to support that claim. Bio was arrested on June 3 and booked into the Broward County Main Jail. He faces a charge of participating in an organized scheme to defraud a person 65 or older; the case is an allegation and no conviction has been reported.
Local coverage by TAPinto added that one of the Texas victims is bedridden and that his wife was the one directed to the Chase branch during the alleged scam. Dallas police forwarded the case to Coconut Creek investigators, who continue to analyze the movement of funds from the SB94 LLC account.
Warning Signs And Advice
Federal regulators and major banks like the FDIC and Chase warn that impostor scammers commonly mimic bank employees, fraud departments and government agencies. They may spoof caller ID, claim suspicious account activity and pressure customers to act immediately.
Red flag: A caller who insists you stay on the phone while withdrawing or depositing money. If that happens, hang up and call your bank using the phone number on your card, a bank statement, the official mobile app, or the verified website before moving any funds.
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