Schemes, Scams, Frauds.
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Elder Abuse of a Financial NatureElder abuse of a financial nature is when the victim is exploited because of vulnerabilities associated with age, such as an impaired mental capacity. It occurs when someone, usually someone close to an older person, forces him or her to sell personal belongings or property; steals their money, pension cheques or possessions; or withholds the older person's money that they need for daily living. Theft, fraud, forgery, extortion and the wrongful use of a Power of Attorney are also forms of financial abuse. Such exploitation may also occur without the victim's knowledge. Such abuse is a crime. It is often done to a senior by someone he/she knows and trusts, either a family member, visitor, social worker, doctor or nurse. It affects thousands of seniors in all cultural, social and income groups. Elder abuse can be difficult to discuss and is not often reported because the senior is unaware of the problem, afraid of revenge by the abuser; is ashamed that they cannot handle the abuse in the home themselves; or is concerned with being labeled as too demanding or senile. A mentally impaired person may not even be able to report a victimization or to describe its details. If the victimization is reported, the report might not be believed. Signs of financial abuse
Links to more info: National Center for Elder Abuse Financial Exploitation of Elderly Fraud Victims - research paper .pdf 28 Oct 2001 Hello, I have a story of a person in my family that is being scammed via an inheritance issue. My aunt is in her 80s and has unknowingly given power of attorney to a non-family member that is proverbially robbing her blind. My aunt's deceased husband had a sizable fortune and this individual is slowly removing objects from her house without her permission. He is also dealing with her issuance of monies. The telling aspect about this situation is that the person who has this power has purchased luxury recreational vehicles, taken many expensive trips, and put at least two children into upper class schools. He is a contractor but has not built a house in many years and his wife is a school teacher. How can we, as family members get the authorities to do an audit of my aunts account. My uncle had a paving business and had almost $1 million in equipment. Tractors have gone missing but there are no receipts for any sales given to my aunt from this person. There needs to be an audit for this type of treatment of an elderly person and her money. Perhaps a freeze on the monies and then an audit? I am not sure what to do but I just know there is some unscrupulous behavior going on here. Regards B.C. I wish I had some easy answers for you but I have yet to delve fully into that topic. Every jurisdiction is different but I would contact the Attorney General who I believe handles the aspect of POA. Try the court house as well. Do a search at www.google.com for the words (abuse "power of attorney") to see what advice links pop up. Let me know what you do so I can add it for the next person who asks. Identity Theft Answers was created to fill the void of information about family related identity theft which the developers feel affects victims differently than people who do not know their thief. It was created as a forum for victims to share their experiences and get answers from other victims who have volunteered to help answer questions. For a free copy of MetLife’s Since You Care Guide, “Preventing Elder Abuse,”please write to the MetLife Mature Market Institute, 57 Greens Farms Road, Westport, CT 06880, call (203) 221-6580 or e-mail: MatureMarketInstitute@metlife.com. This guide and the others in the series can also be accessed at http://www.maturemarketinstitute.com/.
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