Elder financial fraud (also known as abuse or exploitation) is one of the fastest growing crimes in the United States today. This is when someone knowingly, or by deception or intimidation, deprives the victim of use of benefits of personal funds; knows or reasonably should know that the elderly person lacks capacity to consent; and Commits a breach of fiduciary duty to an elderly person, which results in an unauthorized appropriation. Fraud or exploitation is usually committed by a financial advisor or broker in the form of excessive trading/churning, failure to supervise your investments properly, unsuitable/bad investment advice, or theft.
If you or a loved one is a victim of financial elder abuse, fortunately, there are steps you can take to regain control of a situation that seems to be out of your control. You can make a claim and proceed to FINRA arbitration, which is a low cost alternative to filing a lawsuit in court. Our attorneys are experienced in this field and can provide you and your loved ones legal guidance through this process or through litigation.
Another form of elder abuse is Nursing Home or assisted living Neglect. California has enacted the Elder Abuse and Dependent Adult Civil Protection Act (“EADACPA” or “Elder Abuse” Act) which provides a definition for this type of abuse as being Physical abuse, neglect, financial abuse, abandonment, isolation, abduction, or other treatment with resulting physical harm or pain or mental suffering; and (b) The deprivation by a care custodian of goods or services that are necessary to avoid physical harm or mental suffering.
Examples of “Neglect” include(1) Failure to assist in personal hygiene, or in the provision of food, clothing, or shelter; (2) Failure to provide medical care for physical and mental health needs; (3) Failure to protect from health and safety hazards; and (4) Failure to prevent malnutrition or dehydration. This includes injuries such as infections, falls, bed sores, ulcers and malnutrition.