Financial exploitation of the elderly has become a large problem within the elderly community. The State Journal-Register is reporting that a Hillsboro, Illinois man was arrested for his involvement in the financial exploitation of an elderly person. The thirty year old man reportedly had an arrangement with an elderly person in the area to do miscellaneous work. This person then became a victim when the defendant was given blank signed checks to buy materials for the projects. The man then used the blank checks to buy more than $300 worth of personal items. Deputies were able to uncover several items purchased by the defendant with the victim’s money while executing a search warrant in his residence. To read more about this specific case of the financial exploitation of the elderly, please click the link.
Illinois has a specific statute that prohibits the financial exploitation of an elderly person. Under 720 ILCS 5/15-1.3 a person commits the offense of financial exploitation of an elderly person when they “stand in a position of trust or confidence with the elderly person and by deception or intimidation controls over the property of an elderly person or uses the assets of that person.” This is a class 4 felony if the property is less than $300, a class 3 felony if less than $5,000 but more than $300 and a class 2 felony if in between $5,000 and $10,000. Finally, if a person exploits an elderly or disabled person out of more than $10,000 it is a class one felony. All felonies are punishable with jail time. If you believe you or a loved one is a victim of financial exploitation of the elderly we recommend that you contact your local law enforcement. If this exploitation occurred in an Illinois nursing home, you may also have a case for nursing home abuse. Please consult a Chicago nursing home attorney to further discuss your case and your legal options.