Alabama man pleads guilty to scamming elderly victims out of $236,000

By  Howard Koplowitz 

An Alabama man pleaded guilty to two counts of financial exploitation of the elderly and other charges for schemes that bilked more than $236,000 from his victims, prosecutors said Tuesday.

Nicholas Houston Allen, 35, of Montgomery, also pleaded guilty to one count of securities fraud and one count of theft of property, said Montgomery County District Attorney Daryl D. Bailey and Alabama Securities Commission Director Amanda Senn.

“Allen prowled neighborhoods for elderly victims and came up with reasons to engage them in conversation,” Senn said in a statement. “Once he gained the victim’s trust, he persuaded them to invest in his endeavors and stole their money.”

Allen used deception, intimidation or the threat of force to obtain unauthorized control of the victims’ property, prosecutors said.

The two elderly victims targeted by Allen lost more than $236,000 while a third victim lost more than $1,700.

Allen falsely claimed he was going to flip houses and/or invest the victims’ money in his company, Professional Fix, LLC.

Instead, Allen used the money to pay personal living expenses, prosecutors said.

A state law helped notify prosecutors about the schemes.

Because two of Allen’s victims were 80 and 86 years old, the crimes against the victims fell under Alabama’s Protection of Vulnerable Adults from Financial Exploitation Act.

Provisions of the law allow financial professionals to notify the ASC and the state Department of Human Resources of suspicious activity in a client’s account.

A member of Alabama’s financial community alerted ASC, DHR and Bailey’s office about the activity, leading to the charges against Allen.

One of the financial exploitation of the elderly counts is a Class B felony, with a punishment ranging from two to 20 years in state prison and a $30,00 fine, while the other is a Class C felony, punishable between one and 10 years in prison and a $20,000 fine.

The securities fraud count is a Class B felony while the theft of property count is a Class C felony.

Jimmy Pool, the 15th Judicial Circuit Court judge presiding over Allen’s case, has not yet set a sentencing date.

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Alabama man pleads guilty to scamming elderly victims out of $236,000