Brett Thomas Graham, Wire Fraud, Florida 2023

Former Financier Sentenced to Seven Years in Federal Prison for Defrauding Elderly Family Member of $8.4 Million

Miami, FL - In a shocking case of elder financial abuse, Brett Thomas Graham, 61, was sentenced to 84 months in federal prison for wire fraud after defrauding his elderly family member out of approximately $8.4 million.

According to court documents, Graham began assisting his widowed family member in 2017. Graham helped her retain a financial advisor in November 2018. The following year, the family member sold a New York townhouse for approximately $9 million. Within months, Graham began diverting money from her accounts into his own, using the stolen money to finance overseas vacations, luxury jewelry purchases, artwork, and other personal expenses.

In 2020, Graham obtained power of attorney over his family member’s finances, which obligated him to act in her best interest. Instead, Graham exploited that authority to continue his fraud. That December, Graham falsely claimed to the financial advisor that $250,000 was needed to cover the family member’s “higher medical & care expenses.” Graham spent the funds on himself. In November 2022, Graham requested an additional $400,000, citing “[a]mazing [investment] opps…” More than $300,000 of that money was spent on his credit card, art, travel, and rent.

Law enforcement was able to seize jewelry and art purchased with fraud proceeds for approximately $2 million. “Exploiting an elderly family member to steal millions is unconscionable,” said U.S. Attorney Jason A. Reding Quiñones for the Southern District of Florida. “We will hold fraudsters accountable and protect seniors from abuse.”

Graham pleaded guilty to wire fraud and was sentenced by U.S. District Judge Donald M. Middlebrooks on September 16, 2023. The case was investigated by the FBI Miami and prosecuted by Assistant U.S. Attorney Eli S. Rubin.

If you or someone you know is age 60 or older and has been a victim of financial fraud, help is standing by at the National Elder Fraud Hotline: 1-833-FRAUD-11 (1-833-372-8311). This U.S. Attorney’s Office hotline is staffed by experienced professionals who provide personalized support to callers.

Source: https://www.justice.gov/usao-sdfl/pr/former-financier-sentenced-seven-years-federal-prison-defrauding-elderly-family-member