Articles Tagged with financial exploitation

Elder Woman Struggling

Nursing Home Caregivers Charged with Financial Exploitation of Elderly Resident

Grace Watanabe is a 98-year-old woman who had her life savings robbed of her by two former nursing home caregivers employed at Symphony Residences of Lincoln Park, located at 2437 N. Southport Avenue in Chicago.

Last year, Cook County Public Guardian Charles Golbert, with the aid of Levin & Perconti attorneys Steven Levin and Mike Bonamarte, filed a civil lawsuit accusing the workers of stealing $750,000 from Watanabe while she was residing at Symphony of Lincoln Park from 2009 – 2018. It was her bank that flagged the suspicious account activity.

medicare theft

Four Chicago Nursing Facilities Caught Up in Medicare Fraud Whistleblower Case

Some Chicago nursing homes and rehabilitation centers are paying nearly $10 million back to the U.S. government after being caught lying about the level of care their patients required and for violating the False Claims Act by overbilling federal health insurers. Greed came through by abusing power over resident benefits paid for through Medicare and maximizing those amounts under fraudulent therapies and support.

At the center of the fraud sat Quality Therapy and Consultation Inc. of Orland Park, and its owner, Frances Parise. Parise allegedly worked with these four Chicago facilities.

nursing home abuse

10 Ways Banks Can Help Prevent Elder Financial Exploitation

Not only are family members and financial caregivers watching out for financial abuse targeted at the elderly, including vulnerable nursing home residents, but banks and other financial institutions are also filing an increasing number of suspicious account reports (SARs). This year, the Office of Financial Protection for Older Americans received over 180,000 encounters of suspicious elder financial exploitation (EFE), involving a total of more than $6 billion since 2013.

Noted in a 2019 report published by the Office of Financial Protection for Older Americans, banks reported a total of $1.7 billion in suspicious activities in just 2017, including actual losses and attempts to steal the older adults’ funds.

healthcare fraud

Miami-Dade Nursing Home Owner Convicted in Largest U.S. Healthcare Fraud Scheme

Just last week, a 12-person jury deliberated for four days before finding Philip Esformes, a 50-year-old entrepreneur and owner of a network of 16 nursing homes and assisted living facilities in Florida, guilty on 20 out of 26 charges related to healthcare fraud. This is believed to be the largest fraud scheme ever charged by the U.S. Justice Department and a reflection of the business owner’s greed through receiving kickbacks, money laundering and conspiracy to commit federal program bribery totaling $37 million. In an April 5th, 2019 public statement, prosecutors called him a “despicable,” “vampire” who was fueled by “unbounded greed.”

“Esformes exploited and victimized patients by providing inadequate medical care and poor conditions in his nursing homes. We will continue the fight against such parasites.”

nursing home theft

Public Guardian Says Dementia Resident Was Victim of Financial Corruption for Nearly a Year

Attorneys Steve Levin and Mike Bonamarte continue to offer legal support alongside acting Cook County Public Guardian Charles Golbert for a 97-year-old woman with dementia who was financially exploited by her nursing home care staff for the sum of three quarters a million dollars. It was initially believed the aging resident with dementia and no living relatives, Grace Watanabe, had her life savings of $600,000 taken from her by five care workers at Symphony Residences of Lincoln Park, located at 1366 W Fullerton Ave in Chicago. New information now suggests the amount stolen is actually closer to $750,000.

The legal team for Ms. Watanabe is working hard to recover the stolen money, hopefully with the help of Symphony administrators in releasing all requested documents regarding the financial exploitation. So far, one of the thieves has agreed to repay $15,000 to the victim.

 nursing home theft

Symphony of Lincoln Park Workers Caught Stealing $600,000 from Resident with Dementia

Levin & Perconti attorneys Steve Levin and Mike Bonamarte have begun work with acting Cook County Public Guardian Charles Golbert on a local financial exploitation case involving a 97-year-old resident with cognitive and memory disorders who required assistance with her finances and trusted the staff workers at Symphony Residences of Lincoln Park, a senior facility where she had been living since 2010. The Cook County Public Guardian has since been appointed the temporary guardian after receiving news by the Illinois Department of Aging and Adult Protective Services of the financial exploitation allegations and suspicious spending between the resident’s bank account and facility employees. The Department receives more than 8,200 reports of financial exploitation involving nursing home residents each year.

It’s believed the aging resident, who previously led a life at an Arizona based Japanese internment camp during World War II against her will, and then worked hard in a career with the federal government, had earned a life savings of $600,000 which she was using to help care for herself at the Symphony facility. Because of her failing independence and need for mental health support, she required assistance in managing her savings but instead a group of workers took advantage. Today, five Symphony workers have been accused of spending their way through the woman’s personal life savings in a yearlong thieving scheme that included cashing checks, making large ATM withdrawals and accessing her funds without her consent. According to the lawsuit:

elderly financial exploitation

3 Times Nursing Home Staff Stole and Were Caught

It feels as though nursing home staff seem to be caught stealing from vulnerable and sick residents and their facilities more often. Brought on by the nation’s opioid epidemic, staff steal medication and patient drugs most often, but theft can also be in the form of residents’ possessions or finances, and when executives swindle millions from the company and spend it on personal items or other investments. Here is a special review of three times Illinois nursing home staff stole, they were caught, and justice was served.

  1. Drug Theft

financial exploitation

Investors Claim Rabbi Stole Millions Out of Chicago Nursing Home Deals

Several investors have come forward alleging a Skokie-based investment firm run by a rabbi, stole more than $20 million in a series of nursing home and retirement home funds around the Chicago suburbs in Norridge, South Holland and Morris, along with one Downstate, one in Indiana and the New Jersey facility. The suit alleges the investors are owed a total of more than $24 million counting interest due on their initial contributions.

According to a May 2018 report by The Real Deal, a publication catering towards Chicago real estate professionals, “a similar lawsuit filed in September in federal court in Chicago that alleges violations of the RICO act … In that suit, the investment firm created a series of LLCs to buy and sell nursing homes and retirement homes across the country, including several in the Chicago area and one in Wayne, New Jersey, according to the plaintiffs’ attorney, Craig Tobin.” Soon after, the firm was found to be keeping profits for themselves and not giving any to the investors and filling their pockets by taking from others who rely on nursing homes to survive. The scheme victimized “a 90-year-old Holocaust survivor, school teachers and sophisticated banking institutions,” the suit says. The federal lawsuit seeks more than $20 million in damages.

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