800K Stolen, spent on nonsense

[CptJack83]

Really sad story...couple was given power of attorney over 94 year old uncle's accounts.   In less than 3 years they blew through $800k on basically nothing.....If there wasn't a victim this type of insanity would be comical.   

o Approximately $47,000 in transactions to Amazon and Amazon Companies
o Approximately $25,000 in purchases at Costco
o Approximately $16,000 in purchases at Giant Eagle
o Approximately $25,000 in purchases at Lowe's
o Approximately $9,000 in purchases at QVC
o Approximately $34,000 in multiple cash withdrawals
o Approximately $157,000 in payments to contractors to remodel the home the victim gave them. (The victim transferred ownership of his Rocky River home – which the Smiths were already to inherit in his will – to them since he was no longer able to live there.)
o Cleveland Browns season tickets
o Tickets for the 2015 NBA Finals and 2016 NBA Eastern Conference Finals
o At least one vehicle, one camping trailer and one boat
o The estimated amount spent by the Smiths not on the victim’s care is $800,000

https://fox8.com/2019/01/14/couple-accused-of-stealing-more-than-800k-from-elderly-victim-spending-it-on-sporting-events-and-home-remodel/

[Just Joe]

...because who would/could notice... The perfect crime in their minds...

[marty998]

Elder abuse is a growing problem that has severe consequences.

Down here, you have lots of elderly people who have suddenly become paper millionaires due to the recent property boom. There's been a few cases publicised of adult children (in their 40s/50s) who are sick and tired of (a) being locked out of the property market due to affordability and (b) sick and tired of waiting for their inheritance (the "problem" of longevity and ever increasing life expectancies).

So POAs are abused, elderly are left without means to pay nursing home bills, and everyone is a loser.

Alzheimers effects so many people these days, I fear this issue is only going to get worse.

[iris lily]

Really sad story...couple was given power of attorney over 94 year old uncle's accounts.   In less than 3 years they blew through $800k on basically nothing.....If there wasn't a victim this type of insanity would be comical.   

o Approximately $47,000 in transactions to Amazon and Amazon Companies
o Approximately $25,000 in purchases at Costco
o Approximately $16,000 in purchases at Giant Eagle
o Approximately $25,000 in purchases at Lowe's
o Approximately $9,000 in purchases at QVC
o Approximately $34,000 in multiple cash withdrawals
o Approximately $157,000 in payments to contractors to remodel the home the victim gave them. (The victim transferred ownership of his Rocky River home – which the Smiths were already to inherit in his will – to them since he was no longer able to live there.)
o Cleveland Browns season tickets
o Tickets for the 2015 NBA Finals and 2016 NBA Eastern Conference Finals
o At least one vehicle, one camping trailer and one boat
o The estimated amount spent by the Smiths not on the victim’s care is $800,000

https://fox8.com/2019/01/14/couple-accused-of-stealing-more-than-800k-from-elderly-victim-spending-it-on-sporting-events-and-home-remodel/

What happens with Medicaid kicking in at this point for this old guy in a nursing home?

If his annual bill is, say, $85,000 and his VA pension and Social Security total only $50,000–will Medicaid make up the difference if it is shown in the “look back” process that his assets went to someone else without his consent?  Maybe that is why he had to prosecute this couple, so that it was clear they took his assets illegally.

[Hunny156]

Going through this exact same scenario right now, POA and elder abuse are areas where penalties are seriously lacking.  I'm grateful that due to MMM, I was able to fight a very expensive legal battle to gain control of what I could, and hopefully by mid year I'll be able to get Mom out of the Medicaid NH she's in right now, assuming she survives this whole ordeal.

College educated sibling is lazy and likely has some mental issues, drained Mom's assets of somewhere between $300-$500k in a few years, to fund lifestyle.  Designer goods and phone psychics were the notable items from discovery documents, but the majority was just death by a thousand cuts, $20 here and $30 there, adds up fast.

Once everything is wrapped up, I'll create a post with all the gory details and the many things I learned through this process.  It's QUITE the education, and very demoralizing.

[partgypsy]

Hunny, really sorry.  Sad when you can't trust your own family.

[Hunny156]

Thanks partgypsy.  Unfortunately, I'm not a unique case.  LOTS of family members can't be trusted when it comes to $$.  And my parents knew this sibling was a problem, and did nothing to protect themselves.  That's the bigger takeaway, IMHO.

[Dicey]

Thanks partgypsy.  Unfortunately, I'm not a unique case.  LOTS of family members can't be trusted when it comes to $$.  And my parents knew this sibling was a problem, and did nothing to protect themselves.  That's the bigger takeaway, IMHO.

Nope, not unique at all, especially the bolded part.

[Monocle Money Mouth]

o Cleveland Browns season tickets

What a waste :D

I didn’t read the article yet, but how do you spend $16,000 on groceries over 3 years? Are they just buying what they need in duplicate and depositing the duplicates directly in the dumpster when they leave the store?

[CindyBS]

o Cleveland Browns season tickets

What a waste :D

I didn’t read the article yet, but how do you spend $16,000 on groceries over 3 years? Are they just buying what they need in duplicate and depositing the duplicates directly in the dumpster when they leave the store?

A good chance that a big chunk of that grocery spending was for alcohol.

[FIREby35]

We had a conversation about this in another thread where mustachians didn't want to pay for a will/trust because they couldn't imagine what could go wrong...@meteor, can you see what I see? I'm telling you, it's going on all the time.

[Monocle Money Mouth]

o Cleveland Browns season tickets

What a waste :D

I didn’t read the article yet, but how do you spend $16,000 on groceries over 3 years? Are they just buying what they need in duplicate and depositing the duplicates directly in the dumpster when they leave the store?

A good chance that a big chunk of that grocery spending was for alcohol.

That's a good point. I didn't consider alcohol. that would absolutely drive up a grocery bill. I don't drink and other than buying an occasional bottle of wine as a gift for a party or a friend, I don't usually buy alcohol at the grocery store.

[Michael in ABQ]

o Cleveland Browns season tickets

What a waste :D

I didn’t read the article yet, but how do you spend $16,000 on groceries over 3 years? Are they just buying what they need in duplicate and depositing the duplicates directly in the dumpster when they leave the store?

That's only $444 a month. At our current rate our "grocery" line item will total around $50,000 over three years. However, that's a family of 8 and includes diapers, paper products, toiletries, etc.

[TheGrimSqueaker]

o Cleveland Browns season tickets

What a waste :D

I didn’t read the article yet, but how do you spend $16,000 on groceries over 3 years? Are they just buying what they need in duplicate and depositing the duplicates directly in the dumpster when they leave the store?

That's only $444 a month. At our current rate our "grocery" line item will total around $50,000 over three years. However, that's a family of 8 and includes diapers, paper products, toiletries, etc.

It doesn't say whether these two had kids-- I hope filth like this wouldn't have already reproduced-- but you're right, more mouths to feed will drive up the bill.

Some of the $25k they spent at Costco may have been food and beverage related.

[talltexan]

Food/beverage would be related.

I was going to type something sarcastic about the Browns season tickets, but then looked it up on the internet, and they won seven games last season, which is respectable.

[Dicey]

I keep misreading this thread's title. The first word looks like "Book". I'm a book junkie, so my brain sparks every time I see it. Frankly, a thread about a book would be a lot more interesting than reading about these losers.

[Monocle Money Mouth]

Food/beverage would be related.

I was going to type something sarcastic about the Browns season tickets, but then looked it up on the internet, and they won seven games last season, which is respectable.

A joke about the Browns was still in order. They did ok this season but I’m pretty sure they won more games this year than they did in the previous 3 combined.

[joho]

When I was a banker we I had a couple in their late 30's come in with a POA for the elderly father. They wanted to take a loan out in his name under the POA.

Flabbergasted, I turned the paper around and showed them the section that outline what they could do. Incurring debt was not one of those things.

Horrible people.