Former Chicago police officer, Donald Owsley, now faces up to 15 years in jail after his conviction for financial exploitation of the elderly and forgery. Here is the Chicago Tribune article. Justice moves slowly, but at least it moves. As public awareness of this problem increases, there are going to be more prosecutions and civil lawsuits in this area. It is important for the elderly and their families to know that there are criminal remedies for this kind of exploitation. And in some cases, the fraud can be unwound and assets recovered.
Here is an excerpt from the Tribune article –
A former veteran Chicago police officer was convicted Thursday of swindling an elderly man with Alzheimer’s disease out of his $1 million estate more than 10 years ago, authorities said.
Donald Owsley, 63, was found guilty of financial exploitation of the elderly and forgery following a weeklong bench trial before Cook County Criminal Court Judge Timothy Joyce.
Authorities alleged that in 1999 Owsley met Theodore Hoellen, then in his 80s, after a neighbor contacted police with concerns about Hoellen’s mental state. Hoellen is now deceased.
Authorities contended that over time Owsley persuaded Hoellen to sign over his Northwest Side residence as well as investment accounts worth a combined $1 million.
Owsley was charged criminally in late 2004 hours after a Cook County judge, ruling in a civil lawsuit filed by the Cook County public guardian’s office, found that the officer had swindled Hoellen out of his estate.
The public guardian alleged at the time that Owsley attempted the same scheme on three other elderly victims, but he was charged criminally in only the Hoellen case.