Latest news with #elderlyExploitation

Yahoo

Man convicted in 'complex' fraud case where $8.4M was conned from elderly victim

A Montgomery man has been convicted of numerous fraud charges in connection with a "complex." scheme to defraud an elderly victim of $8.4 million, the state's top cop says. A Montgomery County jury found James 'Jimmy' Bulger guilty on three felony charges: first-degree theft by deception, aggravated theft by deception and first-degree financial exploitation of the elderly, said Attorney General Steve Marshall. Following a six-day trial, the jury returned guilty verdicts on all charges, concluding that Bulger stole $8.4 million from an elderly victim over the course of more than two years through a complex Ponzi scheme, the attorney general said. More: Mayor promises 'justice' after 13-year-old girl dies in overnight Montgomery shooting 'This wasn't a lapse in judgment, it was a calculated, predatory scheme that stole nearly $9 million from an elderly man who trusted him,' said Marshall. 'James Bulger saw vulnerability and exploited it for personal gain, living lavishly while destroying his victim's financial future. His conviction is a powerful reminder that we will not hesitate to hold con artists and manipulators accountable, especially when they target our seniors.' Bulger manipulated the victim's advanced age and trust, convincing him to reinvest what he believed were profits — when in fact he was simply receiving his own funds, Marshall said. Bulger used the stolen money to fund an extravagant lifestyle, purchasing luxury vehicles, designer goods, and constructing an 8,000-square-foot mansion. Following his indictment for the charges on which he was found guilty, Bulger tried to entice the victim to drop the criminal case in exchange for $1 million, Marshall's office said in a release. Contact Montgomery Advertiser reporter Marty Roney at mroney@ To support his work, please subscribe to the Montgomery Advertiser. This article originally appeared on Montgomery Advertiser: Montgomery man convicted in fraud case involving elderly victim