Prosecutors seek to freeze assets of man accused of stealing $1.9 million from elderly woman in Cary

by Sam Borcia

Prosecutors are seeking to freeze the assets of a Barrington man accused of stealing $1.9 million that belonged to an elderly family member in Cary over the span of four years.

The Cary Police Department received a report on August 26 of a person stealing money from an elderly family member.

The suspect, Douglas Boncosky, 54, of Barrington, was named power of attorney in 2018 over an 80-year-old woman, according to Cary Deputy Police Chief Scott Naydenoff.

The victim, who is a family member of Boncosky, resides in Cary.

Investigators began an investigation and determined that Boncosky unlawfully wrote numerous checks to himself and his business from the victim’s account, Naydenoff said.

He also unlawfully transferred funds to himself and his business from the victim’s account, Naydenoff said.

Naydenoff said evidence obtained showed an estimated $1.9 million was stolen and used by Boncosky for personal gain.

The case was reviewed by the McHenry County State’s Attorney’s Office, which approved charges of aggravated identity theft, theft exceeding $1 million, financial exploitation and forgery.

The most serious charges against Boncosky are Class X felonies, which carry six to 30 years in prison.

Boncosky was arrested on Monday by the Cary Police Department and transported to the McHenry County Jail.

While the charges are non-detainable under Illinois’ SAFE-T Act, prosecutors filed a petition to detain Boncosky pending trial under the premise of him being a willful flight risk.

McHenry County Judge Michael Coppedge granted the petition to hold Boncosky.

The judge found that Boncosky had obtained “substantial assets” from the theft and had taken steps to change communication information. Prosecutors said Boncosky expressed intent to move to Florida.

The McHenry County State’s Attorney’s Office on Wednesday filed a petition to freeze Boncosky’s assets.

Prosecutors say Boncosky’s assets can be frozen under a state law that allows people charged with exploiting the elderly or disabled to have their assets frozen in an amount equal to the alleged value of lost or stolen property for the purposes of restitution.

In an assets and liability affidavit signed by Boncosky, he said he is unemployed and has $26,000 cash in a checking account and $10,000 in “cash or other assets.”

Boncosky also said he owns a brand-new vehicle worth $50,000 and has over $550,000 in credit card and business debt.

Boncosky is scheduled to appear in court again on November 22 for a preliminary hearing and status of attorney hearing.

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Prosecutors seek to freeze assets of man accused of stealing $1.9 million from elderly woman in Cary