Working hard throughout one’s adult life is considered to be the ticket to a peaceful retirement. Those Americans currently in their 60’s and 70’s have witnessed the aftermath of World War II, several economic recessions, an oil crisis, and a terrorist attack on domestic soil. They have also raised families, paid into the Social Security Administration, and survived the everyday trials and tribulations of adulthood. Now, our nation’s senior citizens have reached the stage of life where they are entitled to reap the seeds they have sown. The difficulty for many will involve recognizing those who are not forthright with them and seek only to take advantage of their financial vulnerabilities. The law protects victims from this type of elder abuse, but for many, the law is not quite quick enough to stop the injury before it occurs.
Jeremiah Bishop’s Real Estate Elder Abuse Scam
One such individual who sought to take advantage of the elderly is Jeremiah Bishop. On May 1st, 2015 the authorities finally caught up with Bishop, a Fremont resident, and he was arrested for his illegal dealings. Bishop’s method of taking advantage of people involved selling them various pieces of property and advertising himself as a commercial real estate investor. His job, he told them, would be to invest their money and grow their savings. This is a common scheme among those who target the elderly as they recognize that many retired people have few ways, if any, of growing their money throughout the remaining part of their lives. Bishop also advertised to his victims that he had a partner. In truth, none of the investment property nor the partner ever existed. Between about twenty different victims the man managed to scheme $500,000 before he was caught and arrested for elder financial abuse.
California and Elder Abuse
Civil elder financial abuse in the state of California is defined as an individual or entity doing any of the following to a person 65 years of age or older:
– Takes property for wrongful use or with the intent to defraud.
– Helps someone take property for wrongful use or with the intent to defraud.
– Takes or helps someone take property through excessive persuasion that results in inequity.
In California the law requires that any person who suspects elder financial abuse and has assumed the role of full or part-time caretaker for that person is required to report their suspicions to the authorities. Employees of financial institutions, such as a bank where an elderly person has an account, are also mandatory reporters. This reporting applies not only to financial abuse of the elderly but also physical abuse, abandonment, isolation, or neglect.
Contact Injury Trial Lawyers, APC today if you or someone you love has suffered from elder abuse.