Richard Guthrie, 92, said he took the scammer's phone calls because he was lonely.
In 2007, the New York Times covered a spate of phone scams targeting the elderly. Guthrie, a widower and Purple Heart veteran, was one of them. In the end, he lost all of his savings — including the money he was planning to give to his great-grandkids for college — to telephone scams.
Unfortunately, Guthrie's case isn't unique. Senior citizens lose about $2.9 billion each year (each year!) from financial scams and abuse, according to a 2011 report by MetLife.