EAST ST. LOUIS, Ill. – The Speiser couple, Ronald, 81, and Jean, 81, from Freeburg, Illinois, have been handed a tough sentence after they were caught in a $200,000 elderly fraud scheme.
The duo, who were appointed the victim’s power of attorney, began siphoning off funds as early as December 2018. Over a year and a half, they managed to spend over $200,000 without the knowledge or consent of their elderly victim.
Among their lavish spending was over $50,000 on personal home renovations, paying their own credit card bills, and even purchasing new property, all at the expense of the victim. The Speisers were sentenced on November 18, 2021, in U.S. District Court in East St. Louis.
Special Agent in Charge David Nanz emphasized the vulnerability of seniors, saying, “The FBI will not hesitate to investigate those who victimize and take advantage of the elderly citizens of our community.”
The Speisers’ sentence includes one year of home confinement followed by a supervised release. They have already paid an initial lump sum of $119,000 as part of their plea agreement and are expected to pay back the remainder in monthly installments.
This case is part of the Department of Justice’s Elder Fraud Initiative, which aims to combat financial exploitation of the elderly. For those aged 60 or older who have been victimized by financial fraud, assistance is available through the National Elder Fraud Hotline: 1-833-FRAUD-11.
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Key Facts
- State: Illinois
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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