Double Edge Investigation

PI # 24123

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ELDER ABUSE

 

Elder Abuse is probably the most underreported crime in the US, people are embarrassed and say, 'How could this happen to me?'" They don't report it because it makes them look bad. 

 

As baby boomers begin to retire and their parents pass away, Americans are about to witness the largest transfer of wealth in the nation's history.

 

The following paragraph is a local crime that was reported involving elder abuse and there are hundreds or thousands which go unreported and it is the perfect crime for vultures preying on the elder.

 

Reported crime:

A local man who we will call Mr. X became the older man's caretaker, buying him groceries and shuttling him on errands. The two frequently went to banks and a credit union. The elder man expressed his gratitude by showering Mr. X with gifts and even a $50,000 loan.  Before the crime was discovered and reported Mr. X had drained the elder man's checking accounts, savings accounts, mutual funds, etc.  Totaling over $400 thousand dollars.

 

Red flags to watch out for in elders:

• Making financial transactions accompanied by a relative or stranger who appears coercive or domineering when withdrawing large sums of money

• Not being allowed to speak for themselves

• Confusion or concern about missing funds

• Making unusual or first-time wire transfers, especially to Canada or another foreign country

• Inability to remember financial transactions or signing paperwork

• Fear of eviction or nursing home placement if money is not given to a caregiver or relative

• Showing signs of neglect or receiving insufficient care when they have money

Source: Elder Financial Protection Network, www.bewiseonline.org

how to report abuse.

 

Reporting:

Every county has a 24-hour hot line that responds to all reports of suspected elder abuse. Also, reports can be made to the state Attorney General's Office at 800-722-0432.

• Alameda County: 510-577-1900

• Contra Costa County: 877-839-4347

• Solano County: 800-850-0012

 

If you are caring for yourself or a loved one who you suspect is possibly being exploited for their money... report it to the authorities or take action by having a background check done on the subject.