Massachusetts man accused of embezzling $328,500 from member of the family: ‘One of the most common forms of elder abuse’

A neighborhood man is accused of embezzling greater than $300,000 from a member of the family after a fireplace destroyed the sufferer’s home, in keeping with officers.

Eric Borghetti, 51, of Chelmsford, has been charged with 5 counts of embezzlement by a fiduciary for allegedly embezzling $328,500 from a member of the family.

“This case illustrates one of the most common forms of elder abuse, the financial exploitation by a trusted family member,” Middlesex DA Marian Ryan mentioned in an announcement on Tuesday.

“While these violations of trust may not initially be suspected among family members, this case shows the importance of acting quickly if you are concerned,” the DA added. “Here, this defendant seized an opportunity following a large insurance settlement and was able to embezzle a huge amount of money in a matter of a few months.”

The investigation revealed that Borghetti lived with the sufferer at her house in Chelmsford again in September of 2019.

That’s when a fireplace destroyed the home and injured the sufferer. Shortly after the hearth, the sufferer executed a Sturdy Energy of Lawyer (DPOA), and appointed Borghetti to behave as her fiduciary and in her greatest pursuits. The language of the DPOA didn’t authorize Borghetti to obtain compensation or items in connection together with his duties underneath the DPOA.

Then the day after he was appointed because the sufferer’s fiduciary, he allegedly added himself as a licensed signer to the sufferer’s checking account. Just a few days later, the sufferer’s insurance coverage firm paid her $175,750, which was deposited into her account.

Borghetti then allegedly started to embezzle giant quantities of the sufferer’s cash from 4 completely different financial institution accounts via a sequence of transfers, test deposits and withdrawals.

On one event, he allegedly withdrew $84,000 — which he transferred into separate accounts held by his spouse for his or her private use.

In whole, he’s accused of embezzling $328,500 of the member of the family’s cash earlier than she realized it and reported it.