Another case involving financial elder abuse is in the news in California. This case was written up in an article in the California Bar Journal in October 2013. The defendant in the case is a San Francisco attorney who befriended a 77 year old doctor from Maryland. Then the defendant allegedly committed financial elder abuse and scammed the elderly doctor out of millions of dollars. San Francisco financial elder abuse attorneys say that abuse can happen to any senior citizen.
According to court documents, in 2004 a young San Francisco attorney met the victim. The elderly victim was a doctor from Maryland who was 77 years old and wealthy. Allegedly, the defendant told the elderly victim that he had a great investment opportunity. The defendant told the senior citizen that he could invest in a big litigation case that was being prosecuted in New York and that the investment would result in a multi-million dollar payback. Allegedly, the defendant was able to convince the elderly victim to keep putting more and more money into the scam. All the while, the San Francisco attorney was using the money from the victim to bankroll his own investments. Eventually, the elderly victim became suspicious and in 2009 hired another attorney to check on his investment. That is when the scam came to light. The elderly doctor filed a lawsuit against the defendant and won $3.5 million in compensatory damages and $3.5 million in punitive damages. San Francisco financial elder abuse attorneys say that investments that seem too good to be true are likely to be fraudulent.
The defendant started a series of frivolous lawsuits aimed at delaying repayment of the victim. In September of 2013, a judge found the defendant “culpable of moral turpitude by engaging in a scheme to defraud, misrepresentation, and abusing the legal process.” According to the California Bar Journal, the judge in the case also stated that the defendant has shown no remorse for his behavior and that he failed to admit any wrongdoing. The misconduct happened less than three years after the defendant was admitted to the state bar. The defendant in the case has been disbarred and can no longer practice law. San Francisco financial elder abuse attorneys warn the public to keep a close eye on senior family members.
Evans Law Firm, Inc. handles elder abuse, financial elder abuse, physical elder abuse, annuity fraud, consumer fraud class actions, insurance and banking fraud cases. If you think that you have witnessed or are the victim of elder abuse, or financial fraud then contact Evans Law Firm, Inc. at 415-441-8669 for a free and confidential consultation, or email us at email@example.com