By: Najla Alexander
NJ AG officials announced that an Essex County man has been indicted on charges related to the financial exploitation of a 90-year-old woman after the suspect allegedly abused his authority over her finances to steal tens of thousands of dollars from the victim.
Attorney General Matthew J. Platkin reported that John Boston, 47, of Verona, has been indicted by a state grand jury on one count of theft and one count of theft by failure to make required disposition following an investigation by the Office of the Insurance Fraud Prosecutor’s (OIFP) Medicaid Fraud Control Unit (MFCU).
Authorities say the investigation began after a referral from the Office of the Long-Term Care Ombudsman.
At his arraignment last month in state Superior Court in Essex County, Boston pleaded not guilty, officials stated.
According to the investigation, Boston, a registered financial advisor at the time, signed a contract with the victim, agreeing to assist in managing her affairs and assets.
However, officials said the defendant never obtained authorization from his employer to take on the victim as a client, failed to notify his employer, and failed to register the victim as a client, as required by the Federal Financial Industry Regulatory Authority.
According to officials, Boston then signed a durable financial power of attorney with the then-90-year-old victim on or about June 27, 2017, and it is alleged that through a series of transactions, including ATM withdrawals and bank transfers, Boston diverted more than $75,000 from the victim.
It is alleged that Boston used his own debit card to withdraw the money and spent it on his own bills and purchases for himself and his family. Meanwhile, according to the investigation, he defaulted on the victim’s bills and neglected her care and wellbeing, officials say.
“Victimizing our senior citizens under the guise of providing professional services occurs too often, and the effects on the victims and their families can be devastating,” said Attorney General Platkin.
“No one should have to fear losing their life’s savings or their home because someone purporting to be a professional violated their duty and trust. We will continue to hold accountable those who commit elder abuse.”
“We have resources in place whose sole mission is to eradicate this type of exploitation,” said Interim Insurance Fraud Prosecutor Garcia.
“We are steadfast in investigating and prosecuting these cases. If you target our elderly, you will get caught, and you will face justice.”
