Missouri Elder Fraud Statutes
According to Missouri statute 570.145, financial exploitation of an elderly person takes place when someone “knowingly and by deception, intimidation, or force obtains control over the elderly or disabled person’s property with the intent to permanently deprive the elderly or disabled person of the use, benefit or possession of his or her property thereby benefiting such person or detrimentally affecting the elderly or disabled person.”
The statute also clearly defines what deception includes:
- Misrepresentation or concealment of facts related to a contract or agreement
- Creating or confirming someone else’s false impression which the offending person does not believe to be true
- Failing to correct a false impression
- Stopping someone else from obtaining information related to the disposition of property
- Selling or transferring property and failing to disclose a lien or other legal impediment
- Promising performance the offender will not perform or knows won’t be performed
Section 192.2410 of the statute makes the reporting of suspected elderly financial exploitation mandatory. This report should include the name of the possible victim and his or her caregiver, if applicable. It also needs to contain the nature of the elderly adult’s condition and all other necessary information.
If someone fails to make a report, they are guilty of a class A misdemeanor. And as long as the report was made in good faith, the person will be immune from any criminal or civil liability, as per section 192.2430.Elder fraud penalties
Financial exploitation of an elderly person in Missouri is a class A misdemeanor, according to section 570.145 of the statute. However, this is increased to a felony in some circumstances:
- If the value of the assets involved is $50 or more – class E felony
- If the value of the assets involved is $750 or more – class D felony
- If the value of the assets involved is $5,000 or more – class C felony
- If the value of the assets involved is $25,000 or more – class B felony
- If the value of the assets involved is $75,000 or more – class A felony
The Missouri Department of Health and Senior Services has a program called Missourians Stopping Adult Financial Exploitation (MOSAFE) that aims to protect elderly citizens. The program educates financial institutions and consumers on how to recognize financial fraud and stop it. MOSAFE also provides helpful resources and training materials.
If you are the victim of elder fraud or exploitation, you may be able to reclaim lost funds. To review your situation, contact the Silver Law Group to get a free consultation from an experienced elder financial fraud attorney. Call us at 800-975-4345 or just fill out our online contact form.