Last week we reported on a pair of con artists that were targeting senior citizens. In those cases, the victims received knocks on their door following heavy rains. They were then confronted about the dangerous conditions of their roof. The con artists would ask to be let inside to examine the condition and would steal valuables while distracting the victim during the fake home inspection.
Another case of elderly financial exploitation is being reported in the Wilton Patch. In this latest case, the victim was ultimately bilked out of a staggering sum of money, totaling over $1 million. This example is particularly egregious because it involves lies and deceptions to an elderly woman made by her own financial advisor.
According to reports, the victim was an 89 year old widow who was taken advantage of by her financial advisor and the advisor’s husband. The husband-wife team reportedly convinced the woman to write check after check to an account set up by the husband to benefit local firefighters. However, the money the victim wrote to benefit that charitable account went directly into the couple’s pockets.
Records indicate that the two thieves used the woman’s funds to pay off their own credit card debts, made thousands of dollars in new purchases, and furnish a new home.
Fortunately the family of the elderly victim eventually uncovered the ruse after closely scrutinizing the woman’s finances. They have filed a lawsuit against the husband and wife as well as the financial services business where the wife was employed while the fraud was occurring.
Our Chicago nursing home attorneys at Levin & Perconti urge all seniors and their families to be aware of the possibility of this and similar scams. It is shocking how often certain individuals of ill-repute decide to take advantage of vulnerable seniors who come to them for assistance. It is unacceptable for our elderly friends and family to have savings taken from them after a lifetime of preserving and creating it. We are proud to stand up to all those who take advantage of or harm these important community members.
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