BOARDMAN TWP., Ohio - A Boardman woman lost $40,000 after a scammer convinced her she owed money for a fraudulent PayPal transaction.

The investigation began last week when police went to a home on East Western Reserve Road. The woman told officers the ordeal started Dec. 2 when she received an email that appeared to be from PayPal regarding a $500 purchase.

When she called the number in the email, a man claiming to work for the company told her the charge was a mistake. He then convinced her that she had accidentally requested a $50,000 refund instead of $500 and needed to pay the money back.

Following the man's instructions, the woman went to a drug store and a grocery store in Boardman to buy $4,000 worth of Target and Xbox gift cards. She shared the card numbers with the scammer over the phone.

The scheme escalated the next day. The woman withdrew large sums of money from several First National Bank branches in the area. She took $15,000 of that cash to a gas station and converted it into Bitcoin.

Later that evening, the caller directed her to meet an associate in a parking lot between a gas station and a restaurant on East Western Reserve Road. The woman handed over $21,000 in cash to a man waiting there.

She described the man who took the money as in his late 30s with a short build, red or brown facial hair, and dark hair. He was wearing a red beanie, tan boots, and a long green or brown jacket.

The fraud continued until Thursday, when a friend stopped the woman before she could withdraw more money from a bank in Liberty Township. The friend checked the woman's actual PayPal account and found no evidence of the original $500 charge or any refund error.

Police are reviewing security video from the gas station that may show the man involved in the cash exchange. Officers said the total loss included the gift cards, the Bitcoin transaction, and the cash handed over in the parking lot.

Official consumer protection agencies warn that this type of theft is common and offer several tips to help people avoid becoming victims.

The Federal Trade Commission (FTC) states that no legitimate business or government agency will ever ask you to pay with a gift card. If someone on the phone demands you buy a gift card to pay a debt or fix a problem, it is always a scam. The FTC also warns that only scammers will demand payment through cryptocurrency like Bitcoin.

The Ohio Attorney General’s office advises residents not to trust caller ID, because criminals can easily change the name and number that appear on your phone. If you receive an unexpected request for money, officials say you should hang up immediately and call the company back at a phone number you know is real, such as one from their official website or the back of your credit card.

The FBI notes that scammers often try to create a sense of panic or urgency to stop you from thinking clearly. Experts recommend that you slow down and talk to a trusted friend or family member before withdrawing or sending any money.

A representative for PayPal says the company will never ask for information such as your password, SMS verification codes or financial details by email, text message or over the phone.

If you suspect that you are the target of a potential scam, PayPal asks customers to contact its support line.