Saturday, August 21, 2010

NC Man Receives 3 Years for Bilking Elderly Woman

Federal authorities say a former North Carolina financial adviser has been sentenced to three years in prison for taking millions from an elderly woman with Alzheimer's disease.

U.S. Attorney George Holding announced Wednesday that 66-year-old Harold Blondeau of Raleigh was also ordered to pay nearly $425,700 in restitution to the Internal Revenue Service, the victim, her trusts, and the charity founded with her money.

Blondeau pleaded guilty last year to investment adviser fraud and tax fraud, for not reporting or paying taxes on the illegal income. He admitted taking nearly $3 million from a then-83-year-old Raleigh woman.

Full Article and Source:
NC Man Receives Three Years for Bilking Woman


Thelma said...

Three years is not long enough for a licensed professional, who acts as a fiduciary - a person of "trust"!

Lou said...

There's the IRS again...

How many of these cases are missed every day in our country?

How many of these victims never see restitution because the theft is hidden by this country's legal system itself?

Tom said...

I am glad to see ordered restituion along with a prison sentence.

You're right, Thelma. Three years isn't enough punishment.