Sunday, March 29, 2009

Real Estate Agent Indicted

A Springfield real estate agent has been indicted on charges he stole more than $400,000 from a trust and more than $200,000 from an aunt for whom he had power of attorney.

Timothy Spengler is charged with felony theft in connection with the trust and with financial exploitation of the elderly, theft and two counts of conspiracy in connection with the alleged theft from his 89-year-old great-aunt.

Spengler’s wife, Cindy, was indicted on the same charges in the case involving her husband’s aunt’s money. She is not charged in the alleged land trust theft.

The indictments, handed down by a Sangamon County grand jury, are the result of an investigation by the Illinois State Police and the state’s attorney’s office involving a Christian County trust of which Timothy Spengler was trustee.

Authorities said one of the beneficiaries of the Zelma E. Ostermeier trust, established in 1999, noticed irregularities in withdrawals from the trust and brought them to the attention of investigators.

A hearing is set on the guardianship issue April 2 and on an order of protection against Timothy Spengler for April 3.

Full Article and Source:
Area real estate agent, wife accused of theft


Anonymous said...

What a shame -- and now the poor aunt will end up in a guardianships.

He actually victimized her twice.

Sue said...

89 years old and this is how she will be remembered - as a victim.

And, now every detail of her life and remaining assets will be in the hands of a stranger, a court appointed guardian and that is a tragedy beyond description.

Anonymous said...

You're right, Sue, what an awful way for the end phase of her life.

we the people said...

$600,000.00 and the wife was in on it, what a lovely couple.

I hope they get a harsh sentence; they need to rot in a state cage until their last minute of life.

Crimes committed by fiduciaries and people with positions and "titles" are increasing every minute in every state nationwide.

Anonymous said...

Did you ever consider that this is the result of angry relatives that never spent time with the lady but wanted in on the money that would be left. I think you need to hear the whole story before you go throwing people to the wolves.

Anonymous said...

Luckily, the aunt has a niece who is now caring for her (and not stealing from her). It is an awful situation, but turned out better than expected.