A man from Whitchurch-Stouffville is facing multiple charges for “fraudulently transferring” more than $900,000 from a 95-year-old man for whom he held power of attorney, according to Durham police.
The 62-year-old suspect – whose name is being kept private by authorities to protect the victim’s identity – has been charged with theft by a person holding power of attorney, theft over $5,000, and possession of property obtained through crime over $5,000, police stated in a news release on Tuesday.
Authorities reported that the man moved the funds into his personal account “without the victim’s knowledge or consent.”
A Power of Attorney (POA) is a legal document that allows one or more individuals to manage someone else’s money and assets, as described on the Government of Canada’s website. This authority can cover anything from banking tasks to buying or selling real estate and is usually assigned when a person ages or cannot handle their own finances anymore.
Durham police mentioned that beyond this case, their Older Adult Support and Investigative Services Unit is “actively investigating an increasing number of concerns” related to older adults.
“Take the time to speak with a qualified lawyer to ensure your wishes are clearly documented and legally protected,” police advised.
Police also provided several tips for older adults to keep in mind, such as planning ahead before establishing a POA, seeking professional advice, not giving away personal documents, and standing firm against any pressure to appoint a POA or change an existing will.
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