"I've followed racing as best I could for a long time," an 85-year-old fraud victim said.
The 85 year-old man chose not to be identified because he is embarrassed that he rode his love of horses right into a scam.
"I thought this would be an opportunity to probably fulfill a childhood dream," the fraud victim said.
The fraud victims dream was to spend time around horses and make a lot of money. The problem is that he was lured in by a con-artist.
"He would sell a guaranteed winning method at the horse track guaranteed or your money back," US postal inspector Shari M Delaney said.
Postal inspectors say for more than 10 years the suspect in this case sent out flyers with big promises. The flyers said things like, "make $4,500 a day," or "$38,000 the first two weeks," and even better "$136,000 in a month by only spending $10 a day."
"The amount of money was outlandish far-fetched and he just guaranteed he had a method that would pick winners at the track. All of his solicitations would have endorsements. Fake names of people saying they won multitudes of money," Delaney said.
There were hundreds of victims. Postal inspectors say many still write in asking questions or seeking guidance and when investigators tell them they've been scammed.
"They frequently ask if they are going to get their money back. That is all they care about is money. Day to day and most of the time I have to tell them no and it just breaks their heart," Delaney said.
"They should be taught not to steal, not to rob, not to rip off other people. If punishment is necessary then they go through the legal system," the fraud victim said.