In a recent investigation, local law enforcement found that a disabled veteran reportedly had been exploited out of almost $90,000 during a two-year span.
Sadly, the exploitation of vulnerable adults is all too common, Okaloosa County Sheriff's Office Investigator Michael Kruger said.
In this instance, the victim’s only source of income was a monthly Veterans Affairs Disability payment, ranging from $2,973.86 to $3,106.04, according to an Okaloosa County Sheriff’s Office report.
The payments were deposited into a bank account he shared with a court-appointed guardian, and by November 2020 the account was depleted to a balance of only $55.44.
Kruger, who specializes in investigating economic crimes, said a majority of financial crimes are directed at the elderly.
Financial exploitation is considered a form of elder abuse, a term that also encompasses physical and sexual abuse, as well as confinement and willful deprivation. The National Council on Aging estimates one in 10 adults aged 60 and older have experienced elder abuse in some form.
The annual loss by elderly victims of financial abuse is estimated to be at least $36.5 billion, according to NCOA. Whether they fall victim to a scam or are exploited financially by a family member or guardian, Kruger said the effects can be devastating.
In many cases, once the money is gone, victims never see it again. Even when victims are able to claim restitution, it can be a long time before they ever see the money because it often already has been spent.
“They’ve earned throughout their whole life and then it’s gone,” Kruger said. “If you’re talking about an elderly person who may be at the end of their lifespan, they won’t see that money by the time they pass away. That part is very sad.”
Kruger said the perpetrator in most financial exploitation cases is a family member, a guardian or someone close to the family. According to NCOA, that is the case in almost 60% of elder abuse and neglect incidents nationwide.
The staff at nursing facilities and care centers are often some of the first to spot and report sudden or suspicious changes in financial situations or signs of abuse. Reports are made through the Department of Children and Families abuse hotline and directly to local law enforcement.
“The people that work at these care centers, they care a lot about the people they are taking care of. That’s usually how we find out about it,” Kruger said. “They’ll call the hotline and .. say ‘Something's going on. I really want you guys to know about this.’ ”
Investigators spend weeks going through financial records to determine if there is any criminal activity involved. Kruger said two out of three cases typically end up being criminal.
“We see a little bit of everything,” he said. “I’ve had some cases where on the face of it, it looks like exploitation, but when you look at it financially it turns out that they were just in a poor financial situation to begin with.”
In most criminal cases, investigators will find instances in which money directed to go toward the needs of an elderly person is being used for unnecessary expenses such as a new sports car.
“Unless that car is used to transport them around,” Kruger said. “But if you’re going and buying a brand new car, a sports car, and you’re saying that’s what you’re going to drive your mom around in, that’s not going to really go over very well.”
Kruger said it’s also common to see the staff at care centers dip into their own pockets to help victims obtain everything from socks to blankets — simple things that should be provided for them but are not.
Adults older than 60 can become vulnerable to scams and exploitation for a variety of reasons. Some face illnesses such as Alzheimer's disease or dementia, or don’t have a firm grasp of technology. But the isolation of the COVID-19 pandemic also created a vulnerable group longing for socialization.
“The romance schemes against the elderly, that went through the roof. And that just had to do with them being lonely and reaching out online,” Kruger said. “So my job, part of it is to go and prove to the person being exploited that this romance is false. You’ve been catfished. This person is not that person.”
In romance schemes, victims often end up giving large amounts of money to people posing as romantic interests, and Kruger said some facing isolation would rather give away their life savings than not have someone to talk to.
“That’s the saddest part, is a lot of the elderly that I dealt with, this person is the one person they talk to all the time,” Kruger said. “So when I tell them they have to change their phone number, this person is bad. Then they’re like ‘But I won’t get any phone calls. I like to talk to them.' "
When older adults become victims of fraud it can be difficult for them to share with their family or loved ones, Kruger said. Some fear that they might lose their independence or respect. As a result, a number of cases go unreported.
“That’s the other side of it," Kruger said. "With the elderly being exploited by people outside of their family, it’s hard for them to tell their kids or their family members because there’s that fear that once they see that, they’re going to take away their freedom. It’s like a double-edged sword.”
Kruger said older adults who are victims of exploitation should never feel ashamed, and hopes that by shedding some light on the issue more people might feel comfortable to come forward and learn how to avoid fraud schemes.
“Other people are probably also victims, and by you talking about it you can shed light and make people aware of it,” Kruger said. “There shouldn’t be any type of negative thing against the person, because I can tell you that these types of people that are scamming them are professionals. They are good.”
Fraud, financial exploitation or other forms of elder abuse should be reported to local law enforcement or the Florida Abuse Hotline at 800-962-2873.
Kruger also suggested reporting fraud to the Federal Trade Commission, and advised that one of the key ways people can avoid becoming a victim is by not answering calls from unfamiliar numbers.
More information on the latest scams and resources for people to protect themselves can be found online at https://www.consumer.ftc.gov/features/scam-alerts.
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