Attorney General Bonta Announces Arrest of a Licensed Fiduciary for Stealing $2.5 Million from Clients

LOS ANGELES — California Attorney General Rob Bonta, together with Los Angeles Police Department (LAPD), today announced the arrest of and charges against a licensed Professional Fiduciary who stole over $2.5 million dollars from 12 clients in assets she was hired to protect and manage. The suspect managed many special need trusts, conservatorships and power of attorney involving adult dependents or elderly clients that relied on her to provide fiduciary services. The suspect allegedly transferred money from a special needs or conservator account into her own personal account for personal use. 

“Bad actors who prey on the most vulnerable in our state will be brought to justice,” said Attorney General Bonta. “Our elders deserve to be treated with dignity, not as puppets to further the agendas of selfish individuals. The California Department of Justice is committed to defending the rights of our most vulnerable and holding their abusers accountable."

“We are grateful for the opportunity to assist in this investigation,” said Rebecca May, Chief of the Professional Fiduciaries Bureau. “Licensees of the Bureau are responsible for providing critical care to a vulnerable population. The Bureau is committed to consumer protection, and we thank our law enforcement partners who share in our consumer protection goal and the Bureau staff who worked diligently on this matter.”

The investigation conducted by LAPD and DOJ's White Collar Investigation Team (WCIT) found that the suspect managed many Special Need Trusts and Conservatorships involving adult dependents or elder clients that rely on her to provide fiduciary services. Evidence showed that the suspect transferred money from a Special Needs /Conservator Account and into her own personal account for personal use. This resulted in a collective loss to 12 victims in the amount of 2.5 million dollars.

LAPD arrested the suspect on Friday, January 5 and prosecution will be handled by DOJ’s Special Prosecutions Section. The charges include Theft from an Elder and Dependent Adult by a Caretaker [PC 368(e)(1)] and Grand Theft [PC 487(a)], as well as special allegations for excessive losses. The Los Angeles Police Department’s Commercial Crimes Division (CCD), Valley Financial Section is seeking the public’s help identifying additional victims. If you have been a victim or have information about this investigation, please contact Detective III Adriano at (818)374-9420.  During non-business hours or on weekends, calls should be directed to 1-877-LAPD-24-7 (877-527-3247).