Is financial exploitation a felony?
Financial exploitation of an elderly person or a person with a disability is: (1) a Class 4 felony if the value of the property is $300 or less, (2) a Class 3 felony if the value of the property is more than $300 but less than $5,000, (3) a Class 2 felony if the value of the property is $5,000 or more but less than ….
Is abuse of the elderly a felony?
Even if the abuse doesn’t cause “great bodily harm, permanent disability, or permanent disfigurement,” abuse of an elderly person is a third degree felony, punishable by five years in prison, five years probation, and a $5,000 fine.
What does exploitation of the elderly mean?
Financial exploitation occurs when a person misuses or takes the assets of a vulnerable adult for his/her own personal benefit. This frequently occurs without the explicit knowledge or consent of a senior or disabled adult, depriving him/her of vital financial resources for his/her personal needs.
What are examples of financial abuse?
Common examples of financial abuse include:A family member who repeatedly pressures a parent for money or borrows money, but never repays it.A family member who sells a parent’s house or other property and then uses the money for their own benefit.More items…
What is considered elder financial abuse?
The Older Americans Act of 2006 defines elder financial abuse, or financial exploitation, as “the fraudulent or otherwise illegal, unauthorized, or improper act or process of an individual, including a caregiver or fiduciary, that uses the resources of an older individual for monetary or personal benefit, profit, or …
Can you go to jail for financial exploitation?
If you are convicted of a misdemeanor, you may be sentenced to up to 364 days in county jail and a maximum fine of $1,000. If you are convicted of felony financial elder abuse, you could be ordered to serve two, three, or four years in state prison and pay a fine of up to $10,000.