New Jersey Man Embezzled $1 Million from Elderly

by dmatson on September 9, 2010

A New Jersey man was sentenced to over 5 years in prison after being convicted of embezzling over one million dollars from a number of elderly victims.

According to NorthJersey.com, as an investment broker, the man convinced his clients to give him money to invest, which he deposited in his personal account. Under New Jersey criminal law, he was convicted of a felony level indictable offense. A theft of over 75,000 is a second degree crime, with possible penalties of up to 10 years in jail.

He was also ordered to provide restitution to those he stole the money from.

In many states like California, theft from the elderly is an aggravating factor, classified as aggravated theft in criminal charges and sentencing, which can lead to penalty enhancements.

The elderly are considered a protected class in some jurisdictions because they are often uniquely vulnerable, and susceptible to fraud, especially if they have any degree of mental impairment which sometimes comes with old age.

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