Ehline Law Firm Personal Injury Attorneys, APLC has been warning the elderly against attorney elder abuse and scams by others for quite some time. Some recent events make lead attorney, Michael P. Ehline, Esq., think that Ponzi and other scams against elders are on the rise. According to authorities, four people have been arrested in connection with a scheme that targeted the elderly residents in California.
The Most Recent Scam Allegedly Stole 2.3 Million Dollars from Elders
Attorney General Kamala Harris said Friday the Ponzi scheme defrauded dozens of investors between 2003 and 2011 out of about $2.3 million dollars. Four suspects were charged with 66 felony counts of elder abuse, securities fraud, and conspiracy, Harris said.
Authorities said Philip Lester, CEO of Grass Valley real estate company called Gold Country Lenders and his wife Ellen Lester were both arrested Thursday in Riverside County. Lester and his wife are both 65.
Lester’s sister Susan Laferte age 58 was arrested Thursday in Nevada County, along with the fourth suspect Jonathan Blinder age 58, also arrested in Nevada County. According to Harris, the defendants used personal relationships with the elderly victims to empty their bank accounts.
The four arrested have not made any statements in the accusations.
Elder abuse takes many forms, and financial abuse is one of these, the 66 counts of elder abuse are far-reaching and send them to prison for many years. The older adult who has been one of their victims has lost all of their savings in the Ponzi scheme because they trusted them enough to give them their money to invest. Even with the arrests, the elderly victim will not see their money in most cases, even with the detention of the people running the scam.