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Oct 17, 2021 by |

California Financial Elder Abuse Attorney: Biden Department Of Justice Takes Initiative Against Financial Elder Abuse


Elder Justice Initiative

Increased Prosecution Of Elder Abuse At Federal Level

Protecting Your Loved Ones From Financial Exploitation

Under the Biden Administration, the federal government is taking new steps against the epidemic of elder abuse in this country.  The U.S. Department of Justice (DOJ) has committed to an Elder Justice Initiative designed to increase enforcement of elder abuse protections by federal law enforcement agencies, prosecute cases, and increase awareness of elder abuse through educational programs and information resource guides.  Evans Law Firm, represent elder abuse victims including those who have been financially abused by caregivers, advisors, insurance agents, stock brokers and others and those who have suffered physical elder abuse in nursing homes or other care facilities or from caregivers at home.  If you or an elder you know may be the victim of financial or physical elder abuse in San Francisco or elsewhere in California, call Evans Law Firm, Inc. today at 415-441-8669.  Our toll-free number is 1-888-50EVANS (888-503-8267).

Recent Enforcement Examples[1]

Some recent examples of federal prosecutions of financial elder abuse cases include:

  • A bookkeeper for an elderly client sentenced to prison and restitution for stealing $550,000 from elderly client by directing money to her own account without authorization.
  • Creation of a fraudulent veteran’s and elderly care service provider agency which in fact operated as a fraudulent scheme to gain access to client bank accounts, resulting in the theft of $430,000 from elderly veterans.
  • Financial advisor sentenced for stealing “structured” withdrawals of under $10,000 from senior retirement accounts to avoid reporting rules and transferring nearly $3 million into her own accounts.
  • Financial advisor charged with inducing elderly clients to invest more than $10 million in a real estate investment fund and then misappropriating the money for purchase of a home for himself, rental payments on several apartments for friends and family, and paying his credit card bills.

Warning Signs Of Financial Exploitation

The DOJ offers the following warning signs of this kind of financial elder abuse:

  • Sudden changes in bank accounts or banking practices, including an unexplained withdrawal of large sums of money by a person accompanying the elder
  • The inclusion of additional names on an elder’s bank signature card
  • Unauthorized withdrawal of the elder’s funds using the elder’s ATM card
  • Abrupt changes in a will or other financial documents
  • Unexplained disappearance of funds or valuable possessions
  • Substandard care being provided or bills left unpaid despite the availability of adequate financial resources
  • Discovery of an elder’s signature being forged for financial transactions or for the titles of his/her possessions
  • Sudden appearance of previously uninvolved relatives claiming their rights to an elder’s property or possessions
  • Unexplained sudden transfer of assets to a family member or someone outside the family
  • The provision of services that are not necessary
  • An elder’s report of financial exploitation.

Keeping Elders Safe From Financial Exploitation

Elder abuse comes in all forms, in all numbers, and from all corners. Truly, it can happen to anybody especially if they are isolated, trusting or naïve or if they suffer from cognitive impairment and dependency that often accompany old age. If you are an elder or have an elderly loved one, take the necessary steps for prevention. Check bank statements and be active in their lives.  Do background checks on caregivers and advisors.  Keep valuables, important papers and credit cards locked up.  Keep an eye on expenditures and by all means never ever give a caregiver a Power of Attorney over your or the senior’s affairs. Staying involved and proactive are the best ways to prevent financial elder abuse of someone you love.

Contact Us

If you or a loved one been the victim of financial elder abuse in San Francisco or elsewhere in California, contact Ingrid M. Evans at Evans Law Firm, Inc. at (415) 441-8669. Our toll-free number is 1-888-50EVANS (888-503-8267).  Ingrid handles cases involving physical and financial elder abuse, qui tam and whistleblower law, nursing home abuse, whole life insurance and universal life insurance, and indexed, variable, and fixed annuities.


[1] Evans Law Firm, Inc. was not involved in any of these cases of federal elder abuse prosecution.

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