Fort Lee NJ Man Allegedly Stole $500K from Senior Citizen
Fort Lee NJ police recently apprehended a local man accused in the theft of $500,000 from a senior citizen staying at a nursing home.
According to Bergen County officials, the suspect took the funds from the elderly victim from 2009 to 2016. The suspect reportedly stole the money by utilizing a power of attorney over the victim’s funds. This power of attorney granted the suspect access to the victim’s accounts. The victim’s investment account had in excess of $900,000.
The suspect was empowered to use the funds to pay for the victim to stay in an assisted living facility. Instead, the suspect reportedly took more than $500K and transferred the funds to his own bank accounts.
Someone noticed the missing funds and contacted the Bergen County Prosecutor’s Office White Collar Crimes Unit. The agency subsequently opened an investigation and eventually determined that enough evidence existed to arrest the suspect.
The 33-year-old suspect, who resides in Fort Lee NJ and works as a preschool teacher, faces very serious criminal charges for first degree theft, theft by deception, money laundering, and neglect of an elderly person.
If the suspect is convicted on the first degree theft charges, he would be subject to a term of incarceration of 10-20 years in NJ State Prison.
For further information about this case, view the NJ.com article, “Preschool Teacher Stole $500K from Senior Citizen, Prosecutors Say.”