Sherri Lynn Smith, Bank Fraud, Florida 2021

In a shocking case of betrayal, Sherri Lynn Smith, 52, has pleaded guilty to federal crimes in a South Florida courtroom. Smith, a former caretaker for a Broward County elderly couple, admitted to committing bank fraud and aggravated identity theft when she used the private financial information of the seniors to steal their money.

According to the investigation, Smith worked as a caretaker for the couple from 2016 through 2019. During this time, she had access to the victims’ bank accounts to assist them with paying their monthly bills. However, Smith exploited this access to embezzle approximately $300,000 out of the victims’ bank accounts without their knowledge or consent.

Smith’s scheme involved forging a victim’s signature on several checks made payable to herself, her family members, and her creditors. She also transferred money electronically from the victims’ bank accounts to her own and made electronic payments from the victims’ accounts to numerous credit card accounts belonging to Smith and her husband.

Smith faces a maximum prison sentence of 30 years on the bank fraud charge and two years on each of the aggravated identity theft counts, for a total possible sentence of 34 years. United States District Court Judge Thomas Barber will sentence Smith on August 26, 2024, at 1:00 p.m. in Fort Pierce.

The case was investigated by the FBI Miami and is being prosecuted by Assistant U.S. Attorney Stacey Bergstrom. Assistant U.S. Attorney Mitchell Hyman is handling asset forfeiture.

The public is encouraged to report victimization and suspected fraud schemes by calling the National Elder Fraud Hotline at 1-833-FRAUD 11 (1-833- 372-8311). The mission of the Elder Justice Initiative is to support and coordinate the Department’s enforcement and programmatic efforts to combat elder abuse, neglect, and financial fraud and scams that target our nation’s seniors.

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