A caregiver was recently taken into custody by authorities in Huntington Beach CA for allegedly committing what is now being called “financial elder abuse”. Cindi Dee Powell, 54, allegedly took out loans and opened bank accounts under the name of Constance Wakefield, 85, and pocketed approximately $122,000. Investigations are ongoing but early estimates bring the total amount that was swindled to as much as $200,000 and may possibly cause the retiree to lose her home.
As more and more of the baby boomer generation go into retirement, ways to protect them from “financial elder abuse” must be developed. Robert’s Justice will do a study on this emerging problem and will report on it in future posts.
As more and more of the baby boomer generation go into retirement, ways to protect them from “financial elder abuse” must be developed. Robert’s Justice will do a study on this emerging problem and will report on it in future posts.
