39-year-old John Benjamin III steals more than $1M from his elderly clients in real estate investment scheme.
By Elizabeth MacFarland
Thursday, July 17, 2008
Genesee County Prosecutor David Leyton and Sheriff Robert Pickell announced Thursday that 39-year-old John Benjamin III is being charged with 11 felony counts for stealing more than $1M from his elderly clients who had gone to him for tax preparation services.
Benjamin operated his late father's business, John Benjamin Income Tax and Financial Services in Flint. From 2002 to 2005, Benjamin is being accused of persuading at least seven senior citizens of Mid-Michigan to invest their money in a real estate investment opportunity that, he promised, would return upwards of 22.5% on their investments. Authorities say the money invested was gambled away by Benjamin at casinos in the Detroit area.
Benjamin's case serves as a lesson to area senior citizens to stay alert when making financial decisions.
Elder abuse is on the rise and Diane Nims, Director with the Genesee County Elder Abuse Task Force says the poor economy is not helping.
Experts say, seniors can increase protection by staying open with family and friends and remembering to report any suspicious act they feel could be a threat.
You can contact the Genesee County Elder Abuse Task Force at (810) 762-4022
Abridged
SOURCE: WEYI News
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