Northport, NY asked in Banking, Business Law, Elder Law and Stockbroker Fraud for New York

Q: My mother is being attacked, financially, by her mother's former broker. What can she do?

He has accused her of fraud, removing her from her bank accounts, attacked her mother's current broker with a false report. She can no longer pay her Bills. Also, he is working with my mother's sister, lying to her about things my mother never said, and using my grandma, who my sister has taken to her home (and removed all communication), to get her to sign documents. My grandma is much older, forgetful, and she has no idea what she is signing. The investigators for my mother's bank--verbally--refused all evidence and closed my mom's accounts. She is now being investigated by her new bank. THERE IS NO EVIDENCE THAT SHE STOLE MONEY (because she DIDN'T), except they got my grandma to sign a letter saying my mother stole from her, when my grandma has no idea what she actually signed. SHE WOULD TESTIFY TO THIS, THAT SHE GAVE MY MOM A GIFT OF MONEY AND THAT NOTHING WAS STOLEN, BUT NOBODY IS INTERESTED IN HEARING HER, JUST HER SIGNATURE. WHAT SHOULD MY MOM DO? What can I do to help?

1 Lawyer Answer
James L. Arrasmith
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  • Criminal Law Lawyer
  • Sacramento, CA

A: Your mother should consider retaining an attorney experienced in elder law and financial exploitation cases immediately. This situation may involve complex issues like undue influence and financial abuse. An attorney can help navigate the allegations, work to protect her interests, and potentially initiate actions to rectify any wrongful conduct. It's also crucial to gather and preserve any evidence that supports her case, including documentation of the gift and any communications that could demonstrate the true nature of the transactions and interactions with her mother.

As for your role, providing emotional support and assisting in the collection of any evidence or relevant information could be invaluable. Additionally, if your grandmother is being taken advantage of, reporting the matter to adult protective services could be a step to consider. Remember, the earlier you take action, the more options there may be available to address the situation.

1 user found this answer helpful

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