Arkansas Elder Fraud Statutes
According to Arkansas’s Adult Maltreatment Custody Act, financial exploitation can have different meanings, including:
- The illegal or unauthorized use or management of an impaired person’s funds, assets, or property
- The use of an impaired person’s power of attorney or guardianship for the profit or advantage of one’s own self or another
- The use of an impaired person by a fiduciary* for the monetary or personal benefit, profit, or gain or that results
- Depriving an impaired person the rightful access to or use of benefits, resources, belongings, or assets
- Misappropriation of property owned by a resident of a long-term care facility
* A fiduciary can include a conservator, trustee, executor, representative payee, or agent under the financial power of attorney.Penalties for elder exploitation
All elder financial exploitation cases in Arkansas come with strict penalties.
- If the assets are valued at $200 or less, this is a Class A misdemeanor
- If the assets are valued at more than $200 but less than $2,500, this is a Class C felony
- If the assets are valued at more than $2,500, this is a Class B felony
One of the biggest travesties of elder fraud is that even if charges are brought against an offender, it doesn’t always achieve restitution for his or her victims. But they do have a right to take the necessary action in order get back lost money.
If you are an Arkansas resident currently dealing with a case of elder fraud, contact the Silver Law Group. We are a firm of experienced elder financial fraud attorneys, and we may be able to help you recover lost funds through litigation or arbitration. Give us a call at 800-975-4345 or send us a message through our online contact form. Because we work on contingency, we don’t get paid unless you do.