67-year-old Houston financier Lawrence Allen Deshetler is behind bars, sentenced to 60 months in federal prison and ordered to pay restitution after swindling nearly $2 million from elderly clients. The certified financial planner and investment advisor used his position of trust to execute an elaborate investment scheme that preyed on seniors, marking one of the many cases in the Justice Department’s largest-ever coordinated sweep targeting elder fraud.
The nationwide crackdown, announced by Attorney General Jeff Sessions, ensnared more than 250 defendants across 50 federal districts — including criminals from transnational operations to crooked family members. In total, the fraud schemes bilked over a million Americans, most of them elderly, of more than half a billion dollars. Two hundred defendants face criminal charges, while civil actions and asset forfeiture efforts are underway to dismantle the financial infrastructure of these scams.
Deshetler’s case unfolded in the Eastern District of Texas, where U.S. Attorney Alan R. Jackson condemned the betrayal of trust at the heart of such crimes. “Fraud directed at the elderly puts at risk the financial fruits of the labors of those who spent a lifetime improving our communities and our nation,” Jackson said. “They should be able to enjoy their hard-earned savings without worrying about swindlers.”
The Justice Department coordinated the sweep with the FTC and state Attorneys General, who filed parallel actions during the same period. FBI Acting Deputy Director David Bowdich, Chief Postal Inspector Guy Cottrell, FTC Acting Chairman Maureen Ohlhausen, and Kansas Attorney General Derek Schmidt stood alongside Sessions at the press announcement, underscoring the multi-agency effort to dismantle elder-targeted fraud networks.
To strengthen future prosecutions, U.S. Attorney Jackson has appointed an Elder Justice Coordinator (EJC) for the Eastern District of Texas. The EJC will serve as the district’s legal point person on elder abuse, coordinating with federal, state, and local agencies to escalate investigations, streamline prosecutions, and expand community outreach. All four federal judicial districts in Texas now have EJCs working toward unified, statewide action.
From mass-mailing scams to telemarketing cons and predatory guardianship theft, the sweep exposed the brutal scope of elder exploitation. Whether orchestrated by overseas crime rings or a trusted relative, these schemes shattered retirements and drained life savings. The DOJ vows this is only the beginning — with criminal prosecutions, civil injunctions, and asset seizures all on the table for those who profit from the vulnerability of seniors.
Related Federal Cases
- Texas Con Man Accused of $1M MRI Fraud · Kansas
- Kalena Winston Pleads Guilty to $70K Tax Fraud Scheme · Kansas
- Texas Lawyer Perry Don Cortese Convicted in $Millions Fraud Scheme · Kansas
- U.S. Attorney to Monitor Election Fraud in Kansas · Kansas
- Jeffrey K. Wilson Indicted in $13.8M Rent-A-Vet Fraud · Kansas
Key Facts
- State: Texas
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
🔒 Get the grimiest stories delivered weekly. Subscribe free →
Browse More
MORE FEDERAL CRIME NEWS
US NewsUS NewsUS NewsUS News