Officials say they arrested and charged five suspects: Detoine Darryl Davis, Winston A. Haynes, Michael Turner, Anthony Ringgold, and Mark Chappell.
The District Attorney's office says the suspects are accused of defrauding at least 150 seniors of more than $500,000 in Northwest and Southwest Philadelphia since June 2024.
A majority of the victims were Black women, and the oldest was 90 years old.
Investigators say the suspects would call older victims and pretend to be from PECO, PGW, and the Philadelphia Water Department.
They would tell their victims there was a problem with their account, and gain access to the victims' bank accounts and steal their money.
"They're doing it to make personal purchases: buy sneakers, bags. They're also funneling it through hundreds of thousands of dollars of money orders...and then they're doing transfers to their own personal and business accounts," said Assistant District Attorney Gillian Dagress, with the District Attorney's Office's Elder Justice Unit.
Officials expect there to be more arrests in the case.
If you or someone you know fell victim to the scheme, you are urged to call the Philadelphia District Attorney's Office Elder Justice Unit by calling 215-686-5710.