A Kentucky state representative is sponsoring legislation that would strengthen protections for older adults against financial abuse, increasing penalties for those who exploit senior citizens.
State Rep. Matt Lockett of Nicholasville is behind House Bill 794, which prioritizes protection for Kentuckians — especially older adults — from financial exploitation.
Source:
Kentucky bill would increase penalties for financial exploitation of seniors
A former Bank of America employee, Mario Martinez, was arrested and faces several charges after a co-worker reported that he was stealing funds from a disabled woman in southwest Miami-Dade County.
According to the Miami Herald, the 40-year-old was accused of stealing over $500,000 from a woman with disabilities who had received a large inheritance. Martinez was charged with several felonies, and if found guilty of tampering with or harassing a witness, victim, or informant, he is facing life in prison. He is also accused of one count of exploitation of a disabled person in an amount over $50,000, one count of organized scheme to defraud $50,000 or more, one count of grand theft over $100,000, and one count of criminal use of personal identification information.
Sheriff Rosie Cordero-Stutz and Miami-Dade State Attorney Katherine Fernandez Rundle announced the charges at a press conference.
“Today, Sheriff Rosie Cordero-Stutz and Office of the State Attorney – Katherine Fernandez Rundle announced the arrest of Mario Martinez. This investigation was a collaboration between the Miami-Dade Sheriff’s Office Organized Crime Bureau and the State Attorney’s Elderly and Vulnerable Adult Task Force.
“The case involves the exploitation of a disabled adult and more than $514,000 in financial losses. Protecting our most vulnerable residents remains a top priority, and those who abuse positions of trust will be held accountable.”
The unidentified 47-year-old woman has been with Bank of America for about 20 years. She suffers from a chronic condition where she is unable to walk and requires full-time care, according to an affidavit. Martinez learned from the woman that she had inherited a large amount of money and needed help managing her finances. He allegedly told her he was a financial adviser who could help her invest and manage her money. Martinez had known her since 2016; however, he was not a financial adviser.
He began funneling her inheritance funds into his own account from April 2024 to December 2024, and created a joint account in both their names without her permission. He did this after she lent Martinez $120,000 in early 2023 after he told her he had incurred a large debt.
She did not know what he was doing until she received a phone call in December 2024 from a bank investigator.
“Whenever we learn of potential wrongdoing, we promptly investigate, fully cooperate with regulators and law enforcement, and work with the client to compensate them for any harm caused by an employee,” Bank of America spokesperson Bill Halldin said in a written statement.
An investigation was started on Jan. 16, 2025, by the Miami-Dade Sheriff’s Office. On that day, Martinez left a gift basket on the woman’s doorstep to persuade her not to report his actions to the police, Rundle said.
Martinez was arrested Dec. 23 and is being held without bond at the Miami-Dade Turner Guilford Knight Correction Center.
Full Article & Source:
Bank Of America Employee Accused Of Stealing Over $500K From Disabled Client, Could Face Life Sentence
