A woman in California has been sentenced to theft of more than $ 2.2 million of elderly victims.
Jolly Ann, 52, was an investment advisor who used her position to target elderly customers in her company, including some who were receiving the end of life, according to the US Public Prosecutor’s Office.
He stole the money of the money by controlling the assets of her customer, and without knowing, she liquidated her security property and transferred returns to the accounts subject to her control.
She persuaded the victims to sign the documents that gave their authority to their accounts, including being a guardian of their funds, as they were added as a subject to their bank accounts or obtaining a power of attorney to their mediation accounts.
As an investment consultant, Darah can transfer their money freely to other bank accounts, including some of them.
Prosecutors said that a weld benefited from the confidence that her victims put in it, and often convinced them that she would take care of them in their old years like the daughter.
The court documents said: “I used this confidence to persuade them to sign the documents that she used to steal from them.”
From around November 2016 to July 2023, a wind stole about $ 2.25 million through this scheme. Money was used to buy luxury vehicles and property, pay personal expenses and operate other commercial projects.
Prosecutors said that some of their victims were left in desperate circumstances, without money to pay for the care of the end of life, when fraud was discovered.
The court documents said: “I also convinced a company that has been identified in the guilty acknowledgment agreement as a” victim of work 1 “, an investment company based in Minnesota, to obtain VFM based on wrong and misleading data and conceal the material facts, including not informing that company of the individual customer funds.” “After the discovery of fraud, I incurred a victim of business 1 about $ 5.4 million of losses.”
In October 2023, the Securities and Stock Exchange Commission filed a civil complaint against a wind in relation to the scheme. In December 2024, a dwarf was found vulnerable to paying $ 2,416,511, including interest.
On March 4, she admitted that she was guilty of fraud. On May 19, she was sentenced to 121 months in prison for her crimes.
Any person between the ages of 60 years or older, who may be a victim or know a person who was a victim of financial fraud, can call the National Fraud Hotline at 1-833-372-8311.
The US Public Prosecutor’s Office said: “Reports can help the authorities to determine those who commit fraud and report some financial losses due to fraud as soon as possible can increase the possibility of recovering losses,” said the US Public Prosecutor’s Office.