Elder Law

Illinois Senior Citizens Should Remain On Lookout For Scams

By Levin & Perconti

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.

Full post as published by Illinois Nursing Home Abuse Blog on March 02, 2011 (boomark / email).