Man bilked seniors, cops say
October 30, 2008
BY BARBARA MILLER
Of Our Lebanon County Bureau
A Palmyra man is accused of netting himself more than $83,000 by selling fraudulent certificates of deposit and mutual funds to senior citizens.
Scott Michael Powell, 49, of the first block of North Grant Street, who conducted business as SMP Financial Services of Palmyra, was charged Wednesday with fraud and theft by the state Attorney General's Elder Abuse Unit and Insurance Fraud section.
Powell is accused of targeting senior citizens, including those he contacted while presenting an insurance and investment program at a retirement community in Lancaster County, Attorney General Tom Corbett said.
Powell was arraigned before Lancaster District Judge David Miller and released on $25,000 unsecured bail. A preliminary hearing is scheduled for 9 a.m. Nov. 7 before Miller.
SUSPECT A PROBLEM?
· Elder financial abuse and other forms of fraud targeted at senior citizens can be reported by calling the toll-free Elder Abuse Hotline at 1-866-623-2137.
Abridged
SOURCE: The Patriot-News
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