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USA July 14, 2026

CBS News Matt Gutman nearly loses life savings in investment scam.

CBS News Matt Gutman nearly loses life savings in investment scam.

A senior journalist narrowly avoided losing his savings after falling victim to a sophisticated phone scam.

The scammer claimed to be a bank investigator, providing a badge ID, a name, and detailed knowledge of the victim's account, creating an illusion of legitimacy.

During the call, the caller alleged fraudulent activity at the bank and instructed the victim to withdraw all funds to lure suspected scammers, claiming this would help catch them.

Matt Gutman attends the 19th Annual Stand Up For Heroes Benefit Presented By Bob Woodruff Foundation And New York Comedy Festival at David Geffen Hall on November 10, 2025 in New York City.

Despite his skepticism, the journalist visited the bank, where the caller warned him not to inform staff and suggested that the bank might be involved in the scheme.

Realizing the plan was a deception, the journalist avoided transferring any money, thereby preventing a potential financial loss.

Law enforcement and bank staff intervened, averting a dangerous situation and highlighting the prevalence of such scams, particularly against older adults.

The incident underscores the importance of verifying unsolicited calls about bank activity and exercising caution when instructed to perform unusual financial actions.

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