(Kron)-A retired agent from a retired tax department from southern California was sentenced to 12 years in prison in the state prison on Friday for the loss of a woman from Sonoma’s elderly province of her entire life savings during a seven-year period.
Carla Rodriguez announced in a press statement that the perpetrator, who was convicted in a press release.
Rodriguez stated: “The years of hard work of the victim and savings for life due to the greed of Mrs. Cohen Roth.” Unfortunately, the victim will not be fully made financially and her life is affected forever.
Cohen Roth, who also worked as a tax professional, first prepared the victim’s tax in 2013. After a friendship with the victim, Cohen Roth managed to access her financial information.
From December 2013 to September 2019, Cohen Roth extended her “investment opportunities” on more than 20 different occasion. During this time, the victim gave Cohen Ruth amounts ranging from $ 25,000 to $ 150,000 for supposed investments.
“Cohen Ruth told the victim that while her investments were making some money, she could earn much more by investing with her,” the DA office reads. “Cohen Ruth told the victim that she would invest her in a kind of real estate deal where she could earn at least 10 % of the interest in” no danger “. Based on Cohen Ruth credit papers and friendship, the victim has completely documented Cohen Roth Financial advice.”
The DA office said that Cohen-Roth’s banking records showed that they managed an advanced Bonzi plan with other “investors” who also deposited large sums in their account. Cohen-Roth used part of the victim’s money to pay the previous “investors” and used the rest to finance a “luxurious lifestyle” and give gifts to her family.
By September 2019, Cohen Ruth spent all the money that was placed in her nefarious investment accounts and took a reverse mortgage on her home to return the money to Cohen Roth. The Ponzi scheme collapsed in 2020, when the victim called for a return to her investments so that she could approach her family.
Da office said: “Since Cohen Ruth did not have another source to pay the victim, the entire scheme collapsed, and the victim did not receive any of her money.” “The 73-year-old victim has moved from her private home and has about a million dollars of investments to live in, to being financially executed. The elderly victim was unable to pay the minimum daily livelihoods while Elana Cohen-Roth lived comfortably on the victim’s money.”
A jury in the Sonoma Cohen Cohen Ruth has convicted of all the 23 criminal fraud charges against it. Because of the age of Cohen Roth, the Sonoma Big Hein province judge was sentenced to 12 years in prison instead of maximum sentences for 28 years.