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Kentucky Elder Fraud Statutes

Exploitation in Kentucky is defined as “obtaining or using another person’s resources, including but not limited to funds, assets, or property, by deception, intimidation, or similar means, with the intent to deprive the person of those resources.”

Duty to Report

If someone has “reasonable cause to suspect that an adult has suffered” any sort of abuse, including exploitation, Kentucky state statute 290.030 makes reporting this mandatory. This report has to include the nature of the exploitation and the names of everyone involved. Anyone who makes a report in good faith won’t be subjected to civil or criminal liability.

Elder Financial Fraud Penalties

Kentucky has three levels of penalties for someone convicted of exploitation, and the wording used is important:

  • If losses total $300 or less and a person “knowingly, wantonly, or recklessly” exploited an adult, this is a Class A misdemeanor
  • If losses total more than $300 and a person “wantonly or recklessly” exploited an adult, this is a Class D felony
  • If losses total more than $300 and a person “knowingly” exploited an adult, this is a Class C felony

It should be noted that anyone convicted of either of these felonies will not be allowed in the future to act as a guardian, conservator, executor, or fiduciary for the victim or his or her estate.

Recourse for Victims

If you have been financially exploited, you need to take action. In addition to working with local authorities, you should think about looking into getting legal representation. Speaking to a lawyer will allow you to learn about your rights and determine if there are ways to recover lost money. For a free consultation from an experienced financial elder fraud attorney, contact the Silver Law Group. We have helped many older investors recover money, and we may be able to do the same for you. Call us toll-free at 1-800-975-4345 or fill out our online form.

Client Reviews
“My in-laws lost their retirement funds to a dishonest broker. Silver Law Group and Scott Silver aggressively pursued their losses until he got their money back.” Ben M.
“I foolishly gave my money to a con artist promising me a great return on my money. Scott Silver zealously handled the matter, recovering my losses.” Darren S.
“I almost lost a lifetime of earnings after trusting the wrong person. Silver Law Group guided me through the arbitration process and a mediation, always fully prepared and committed to my case.” Scott T.