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Mar 29, 2022 by |

San Francisco Financial Elder Abuse Attorneys: Accountant Pleads Guilty To Stealing $800,000 From Elderly Client With Dementia


Allegedly Siphoned $800,000 From Elderly Widow’s Account

Accused Of Stealing Annuity Payments

Allegedly Forged More Than 200 Checks

Individuals who steal from and financially exploit seniors include in-home caregivers or persons directly involved with a senior’s finances such as by power of attorney, or as trustee, guardian, conservator, broker, insurance agent, accountant, or other financial advisor.  Evans Law Firm, Inc. represents victims of financial elder abuse here in San Francisco and through California at the hands of a financial advisor, insurance agent, caregiver, trustee, broker, person acting with a Power of Attorney for you, or any other individuals or businesses.  We pursue all remedies available to the injured senior including double damages and payment of the senior’s attorneys’ fees and costs for having to bring suit to get their money back.  Cal. Probate Code § 859 (double damages); Cal. Welf. & Inst. Code § 15657.5 (mandatory attorneys’ fees and expenses in financial elder abuse cases).  If you or a loved one is a victim of financial elder abuse here in San Francisco or elsewhere in California, call our lawyers today at (415)441-8669. 

Accountant Pleads Guilty To Stealing $800,000 From Elderly Widow

A recent criminal case illustrates what can happen when an unscrupulous accountant or financial advisor has access to an older person’s account.[1] According to the U.S. Department of Justice (“DOJ”), an accountant employed by a full-service investment advisor and family office provider, pleaded guilty to stealing $800,000 from an elderly widow who suffered from dementia and needed help with paying bills.  As the firm’s accounting manager and bill-pay supervisor, the suspect had access to the client’s Social Security number and the usernames and passwords for all investment and bank accounts, the DOJ said.  According to the DOJ, the suspect stole the victim’s annuity payments, wrote more than 200 fraudulent checks on her accounts, forged her endorsement on checks, withdrew cash for her own use, used the electronic bill-pay feature associated with the victim’s bank accounts to divert money to herself, used PayPal to make electronic payments to herself, impersonated the victim in telephone conversations with financial institutions; and made false entries in the victim’s financial records to make the fraud harder to detect.  In addition, the suspect allegedly used the client’s name and Social Security number to open a private bank account that the suspect then allegedly used to conceal the fraudulent proceeds.

Protecting Loved Ones From Financial Elder Abuse

If you are a family member of an older loved one the best way to protect them is to stay involved in their lives and financial affairs and monitor all bank and investment accounts on a monthly basis if not even more frequently if you can.  Trace where any annuity, Social Security or pension benefits are being paid and make sure they are going to your loved one’s account and not being diverted elsewhere.  Closely examine all bills that are being paid directly from any account to make sure they are your loved one’s bills and not the bills of someone else who has given the account information to their own creditors for bill payments. Accompany any older loved one to any business meetings so that they are not sold an unsuitable investment or insurance product under the pressure of a broker or agent. 


<h2>Contact Us</h2>


Ingrid M. Evans represents victims of financial elder abuse by accountants, bookkeepers, financial advisors, insurance agents, brokers, retirement planners, investment promoters, caregivers, trustees, or other person here in San Francisco or elsewhere in California contact at (415) 441-8669, or by email at <a href=””></a>. Ingrid will pursue all remedies available to injured seniors against all those responsible for the injury.  Remedies include restitution (getting your money back), rescission (undoing invalid contracts), damages, and awards of attorneys’ fees and expenses for bringing your case in certain circumstances. 

[1] Evans Law Firm, Inc. is not involved in the case in any way.

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