• 23
  • November
    2010

Police have arrested a man who took advantage of his relationship with an elderly woman to gain power of attorney over her finances. Wayne Walter Smith Jr., 45, knew the female victim through their church. In October of 2007, the victim was living in an assisted living facility, and signed a power of attorney giving Smith control of her money, which was more than $150,000.

Florida power of attorney abuse attorneys who are aware of the news reports do not know how much of the money Smith stole.

Police in North Carolina, where the arrest took place, say Smith was the realtor for the sale of the victim's house, and that the victim was a friend of Smith's and of his family.

A friend of the victim's contacted police in March 2009, worried that the victim was being financially exploited by Smith. Local social services and police commenced an investigation.

Smith has been charged for the exploitation of an elder adult. He has been released under a $10,000 bond.

Police encourage people to look for signs of possible exploitation:

  • Unexplained withdrawals of money from a vulnerable person's account
  • Use of deceit, treachery, or coercion to obtain money
  • Unusual interest by anyone in an older or disabled adult's finances
  • A difference between a potential exploiter's assets and their lifestyle
  • Unusually large payments by vulnerable adults for services rendered
  • A supposed caretaker's failure to pay for basic needs (lights, phone)
  • Inappropriate sexual activities

Source: WBTV "Man charged for swindling senior citizen" 11/23/2010