Aug 23, 2019 by |

Marin County and California Financial Elder Abuse Attorney: Financial Elder Abusers May Strike as a Team

ATTORNEY NEWSLETTER

Abusers May Work Together to Abuse Elderly

Seniors here in Marin County and throughout California are vulnerable to financial elder abuse. Sometimes the abusers strike in crews.  Just last week, a local California police department arrested five individuals accused of stealing over $24,000 from a 73-year-old victim over a few months with an alleged attempt of stealing another $54,000 before they were arrested.[1]The Marin financial elder abuse attorneys at Evans Law Firm represent victims of financial elder abuse and their loved ones here in Marin and throughout California whether the financial elder abuse comes at the hands of strangers, caregivers, stock brokers, trustees, agents under a Power of Attorney, conservators, financial advisors or retirement planners, insurance agents selling inappropriate products like annuities or life insurance and others.  If you or a loved one has been the victim of financial elder abuse in Marin County or elsewhere in California, call our financial elder abuse lawyers today at (415)441-8669. 

In the reported case, the victim was an elderly man suffering from cancer, mental illness and alcoholism. The five perpetrators would consume alcohol with the victim until he was intoxicated before walking him into his banks and convincing tellers to remove large amounts of cash or cashier’s checks on his behalf and using the victim’s credit card to make online purchases and rent motel rooms. Once the victim’s caseworker reported suspicions of the abuse, detectives collected evidence, including surveillance video, online purchase receipts, bank records, interviewed numerous witnesses, and notified the victim’s bank to contact them if the suspects returned with the victim. When the suspects brought the man to the bank for another withdrawal, the bank notified the detectives who then apprehended the suspects at the bank.

How to Prevent Financial Elder Abuse

Early detection of financial elder abuse is your best defense Report suspicions immediately to Adult Protective Services and the police and contact elder abuse counsel to pursue those responsible. Signs of financial elder abuse may include:

  1. Unexpected changes in wills, trusts, or powers of attorney.
  2. Sale to the senior of an inappropriate annuity or life insurance policy.
  3. Changes in spending habits and cash withdrawals or different types of spending than the senior normally incurs.
  4. An unexplained increase in check cashing, transfers of money, ATM withdrawals, or credit card activity.
  5. Opening of a new bank or brokerage account (or multiple accounts) or changing banks and brokerage firms.
  6. Unpaid bills.
  7. Unusual increase in investment activity or change in investment style toward riskier or unregistered investments.
  8. A senior who is overly reluctant to discuss financial matters perhaps out of fear from retaliation from a caregiver or other abuser.
  9. Allowing a new “friend” or caregiver to make decisions on the elderly person’s behalf.
  10. A caregiver or other person screening the elder’s phone calls or going through their mail.

The onset of financial exploitation is often undetectable, starting out slowly and gradually increasing over time as the senior’s cognitive abilities deteriorate.  Keep an eye on a loved one’s financial transactions and any caregiver assigned to the home or new “friends” surrounding the senior. Never ever give a Power of Attorney to a caregiver. Keep valuables and bank information and checkbooks in a secure place. Respond quickly if you suspect financial elder abuse.  Notify the authorities and seek qualified financial elder abuse lawyers, such as the elder abuse lawyers at Evans Law Firm, to pursue all remedies available to California financial elder abuse victims including restitution (getting your money back), rescission (undoing an invalid contract), punitive damages, and recovery of attorneys’ fees and costs incurred in bringing a financial elder abuse action against wrongdoers.

Contact Us

If you or someone you love is the victim of financial elder abuse by strangers or a caregiver, trustee, stock broker, insurance agent, financial advisor or other party here in Marin or elsewhere in California, call Ingrid M. Evans and the other financial elder abuse attorneys at Evans Law Firm, Inc. at (415) 441-8669, or by email at <a href=”mailto:info@evanslaw.com”>info@evanslaw.com</a>. Our attorneys have experience with securities, annuity, and other investment fraud, financial elder abuse cases and complex qui tam or whistleblower cases including offshore tax avoidance cases, complex financial contract cases and cases against large insurance companies.  We can help guide your case through a jury trial or toward an equitable settlement.  We also handle cases involving physical elder abuse, 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 the case in any way.

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