I am an “only” living 700 miles from 88 yr old mom, with whom I’ve always had a contentious relationship. I recently learned she trusted a “day trader” and his mother. From what I can piece together (my mom won’t divulge all the info to me), these two have scammed her. She has “loaned” him at least 125k (he has paid back 400), he has taken out a credit card in her name and charged approximately $40k worth of charges (which she paid off) and has gotten her to invest with his mother, an unknown amount in a penny stock scam.
We discovered this guy has a record for fraud, spent time in jail and he and his mom have been investigated by the SEC. We have been approached by FL and NJ securities officials and financial regulators. NJ APS has contacted her three times (she told them to leave her alone). There is also a federal legal component as well.
My mother will neither work with authorities nor make me her rep in this matter. She feels he is a “nice boy” who is trying to pay her back (NOT). She says she couldn’t live with herself if she thought she sent him to jail. She refuses to move against these people and is adamantly opposed to helping the authorities in any way.
My fear is these people have ALL her info. They could mortgage any or all of her properties and leave her destitute. She doesn’t feel her finances are in jeopardy and won’t protect herself in any way.
She still drives and in every other aspect is competent. Both our children are trial lawyers. We have all tried to make her see reason. How do I protect her? What should I do?