A man in California, who was running a so-called grandparent scam, has recently been sentenced. Due to allegations that he stole thousands of dollars directly from elderly people that he defrauded, he’s been sentenced to 46 months behind bars.
The man is only 25 years old, and the scam itself wasn’t that complicated. Reports claim that he would simply contact elderly individuals, tell them that loved ones or grandchildren needed financial assistance, and then collect the money for himself.
Reports also said that the man was working with a network of other individuals who are also making the same phone calls and running the scam. They didn’t just tell their elderly targets that their loved ones needed money, but they would sometimes pretend to be friends, relatives or grandchildren on the phone.
What were the reasons for the financial assistance?
To help other elderly individuals – who are so often targeted – know what to look for and how these types of scams are usually run, here are three of the main reasons the scammers gave for needing the financial assistance:
- Someone had been in a car accident and needed financial help because of the high medical bills.
- Someone had been arrested and needed money to get bailed out of jail.
- That person was going to be facing additional charges if they didn’t have the money necessary to prevent those charges from ever being filed.
There are many reasons why elderly people are often targeted by financial scams. One of them is that these individuals tend to have accumulated more wealth over their lives, so the money exists. Some scammers also believe that elderly people will be easier to trick when pretending to be loved ones that they may have not seen in a little while.
Has your family member suffered financial abuse?
This is just one example of how financial abuse of the elderly can happen, and it’s very important for those who have suffered this type of abuse – and their family members – to understand the legal steps they can take.