A Castle Rock woman who reportedly collected $3.4 million from people she contacted online under a false identity attempted to hide her earnings in cryptocurrencies and overseas accounts after being alerted about her criminal activities, according to authorities.
Lori Ann Kimball, 52, is facing two dozen federal crimes after a grand jury indictment on July 24.
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Prosecutors from the United States Attorney’s Office for the District of Colorado described Kimball’s deception as “pig butchering” without revealing any specifics regarding the nature of her acts. It is a form of scam that federal officials have lately cautioned customers against. Before pinching their victims for money, the fraudsters treat them with affection.
“This scam is named in reference to the practice of fattening a pig before slaughter,” the Federal Deposit Insurance Corporation (FDIC) stated in a press release. “It is a type of confidence and investment fraud in which the victim is gradually lured into making increasing monetary contributions, generally in the form of cryptocurrency, to a seemingly sound investment before the scammer disappears with the contributed monies.”
Kimball, according to prosecutors, developed bonds and trust with her victims over months, in some cases. She then constructed a “narrative” to solicit donations from her victims.
The indictment did not provide any details concerning Kimball’s story. However, the $3.4 million she received between January 2023 and February 2025 was transferred through checks, wire transfers, and virtual currency.
“Kimball was warned by third parties, including law enforcement, that she was engaged in illegal financial transactions but continued to engage in such transactions,” the indictment stated.
Kimball attempted to conceal her money in various ways, according to prosecutors. The majority of it was deposited in cryptocurrency accounts, which were thereafter transferred to cryptocurrency wallets held by other people living overseas. Kimball also set up a corporation in Colorado to open bank accounts for herself.
Prosecutors believe Kimball gave false information to banks and cryptocurrency exchanges in an attempt to conceal her activities. According to the indictment, she informed one cryptocurrency exchange that she worked as a bitcoin broker.
According to the indictment, Kimball once had at least 20 bank accounts and 9 cryptocurrency accounts.
Kimball is accused of one count of conspiracy to commit money laundering and 23 charges of money laundering. The Internal Revenue Service investigated her case. She is due to appear in federal court in Denver on Wednesday for an arraignment. A trial is set for December.
