Jackson County Prosecutors say Marilyn James, 55, transferred a home she owned to an older neighbor with Alzheimer's Disease.
After James put the home in the victim's name and had power of attorney, authorities say she took out a reverse mortgage for more than $64,000 on the home.
Prosecutors say she also stole $9,000 from the elderly man's life insurance policy.
James is only the second person in the nation to be prosecuted for a reverse mortgage scam.
"It's a new type of fraud, one that we haven't seen before because this is a new program," explains Jim Kanatzer, Jackson County Prosecuting Attorney. "So, I hope I'm wrong and I hope we don't see many more of these cases but I suspect we will."
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Woman Charged With Elder Fraud