Stealing from the elderly is a heartless crime. Older people tend to have limited mobility and less cognitive awareness, so they are often an easy target for scammers.
This is called elder financial abuse, and it is a serious crime. The only thing needed to prove elder financial abuse charges to be filed is that the person committing the crime knew that the victim was an elder. In California, elders are defined as people aged 65 years and older.
Elder financial abuse can be a misdemeanor or a felony, depending on the details of the case. Any theft or fraud resulting in a loss of $950 in property or assets is considered a misdemeanor. Once the losses exceed $950, it can be charged as a misdemeanor or felony crime, depending on the circumstances.
For elder financial abuse resulting in less than $950 in financial losses, the penalties include fines of up to $1,000 and/or one year of jail time. For elder financial abuse resulting in more than $950 in financial losses, the penalties include fines of up to $2,500 and/or one year of jail time if charged as a misdemeanor. For elder financial abuse resulting in more than $950 in financial losses, the penalties include fines of up to $10,000 and/or 2-4 years of jail time if charged as a felony.
Who Engages in Financial Exploitation?
In California, elder financial abuse cases are categorized by whether or not a person is a caretaker or a non-caretaker. Caretakers are more likely to face stiffer penalties for criminal financial elder abuse charges because they are in a position of trust.
Anyone can be a perpetrator. Those who have access to a senior’s money or other assets are more likely to steal it. However, the people most likely to engage in financial exploitation include:
- Financial advisors or managers
- Employees of nursing homes
- Online and email scammers practicing deception and invoking empathy of seniors
California Laws
California has multiple laws in place making it illegal to financially abuse or exploit the elderly.
Cal Wel & Inst Code § 15610.30 & § 15610.23 - Elder Abuse and Dependent Adult Civil Protection Act. This law outlines financial abuse as a civil crime. It makes it a crime to engage in financial abuse of an elder or dependent adult. Abuse occurs when a person takes, appropriates, obtains, or retains real or personal property of an elder or dependent adult for wrongful use and/or with intent to defraud.
Cal. Penal Code § 368(d), (e), (g) & (h) - Crimes Against Elders, Dependent Adults, and Persons with Disabilities. This law outlines financial exploitation as a criminal offense. A person, whether or not they are a caretaker, can be found in violation of this law if they engage in theft, embezzlement, forgery, fraud, or identity theft.
Cal Wel & Inst Code § 15610.07 - Elder Abuse and Dependent Adult Civil Protection Act. This law also outlines elder abuse as a civil offense. It defines abuse of an elder or a dependent adult as any of the following:
- Physical abuse, neglect, abandonment, isolation, abduction, or other treatment with resulting physical harm, pain, or mental suffering
- The deprivation by a caretaker of goods or services that are necessary to avoid physical harm or mental suffering
- Financial abuse
Cal Wel & Inst Code § 15610.30 - Elder Abuse and Dependent Adult Civil Protection Act. This law also outlines elder abuse as a civil offense. It defines financial abuse of an elder or dependent adult as taking, appropriating, or obtaining real or personal property of an elder or dependent adult for wrongful use and/or with intent to defraud or by undue influence.
Types of Financial Exploitation
Financial exploitation can happen in many forms. Here are some examples:
- Identity theft. People may steal an elderly person's personal information, such as Social Security numbers, bank account details, or credit card numbers. They may use this information to make unauthorized purchases, open credit lines, or commit other fraudulent activities.
- Unauthorized withdrawals or transfers. Individuals may coerce or deceive elderly people into giving them access to their bank accounts or retirement funds. They may then withdraw money without permission or transfer funds to their own accounts.
- Scams. There are various scams targeting the elderly, such as lottery scams, grandparent scams, and fake charity scams. These schemes often involve convincing seniors to send money or provide personal information under false pretenses.
- Fraudulent investments. Seniors may be persuaded to invest in fraudulent schemes promising high returns or guaranteed profits. These investments often turn out to be Ponzi schemes or scams, resulting in significant financial losses for the elderly victims.
- Deceptive sales practices. Some individuals may use high-pressure sales tactics or deceptive practices to sell unnecessary or overpriced products and services to elderly individuals. This could include unnecessary home repairs, insurance policies, or financial products.
- Caregiver exploitation. Caregivers or family members entrusted with managing an elderly person's finances may exploit their position of trust to misappropriate funds or assets for personal gain. This can include stealing cash, forging checks, or coercing the elderly person to change their will or power of attorney.
- Property theft or fraud. Elderly individuals may be deceived into signing over property deeds or titles, or their property may be stolen outright by unscrupulous individuals seeking to exploit their vulnerability.
- Unnecessary financial services. Seniors may be sold financial products or services that they do not need or understand, such as annuities or reverse mortgages, which can have high fees and hidden costs.
Contact Newman Law Group Today
Unfortunately, many people take advantage of the elderly. They may prey on seniors who are physically or mentally weak, stealing their hard-earned money and other assets.
Don't let your loved ones suffer such injustice. Call Newman Law Group, LLP, to learn how we will fight for compensation. We have more than 30 years of experience. To schedule a consultation, call (916) 352-3195 or fill out the online form.
