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Money Drain: Over a Million Scammed out of two Elderly Sisters by Niece and Nephew

This story unfortunately is one I am sharing because this happened to an old neighbor of mine recently and it really breaks my heart. These two little old women lived across the street from me most of my life, and were some of the sweetest, sassiest, and funniest women you could ever meet.

I recently found out from my father that some old neighbors of ours (one of which recently passed away unfortunately) had been scammed out of over a million dollars from their niece and nephew. These were two little old women, twins, who lived in a duplex that they owned free and clear and lived very modestly despite having a decent nest egg built up over the years. Think of them like the Baldwin Sisters from “The Waltons”.

The way I understand it, not only was money gradually stolen from them directly, but items like their nice lawnmower (which I remember the day it went missing because my father mowed their lawn for them) went missing, their house was deeded out from under them, etc.

One of their other nieces, who happens to be honest and act like an actual relative (you know, by not stealing), found out about all of this and has since decided to take them to court and get their house back and all of their money. Her total estimates of money lost was over a million dollars over the last several years.

– Submitted by: Crystal

Lesson Learned:
This story breaks my heart and pisses me off at the same time. I have to place the story in terms I can relate to as if someone was trying to do this to my grandmother, and I can’t even fathom the idea of trying to steal money like this though I know it happens frequently.

I reiterate many times in this blog how important it is for the elderly to be cautious, and even moreso how important it is for us younger generation to look out for them as much as we are able. Just because someone is a blood relative does not automatically give them a badge of trust. Trust is earned, even from family, and family is certainly not always trustworthy.

Amount Flushed Down the Money Drain: $1,000,000

About Crystal Groves, Google+

Crystal Groves is a farmer, web developer, musician, blogger, and personal finance enthusiast from the back hills of Maryland and Pennsylvania. She started Money Drain as a project to encourage people interested in fixing their financial situation to share their stories and learn from the stories of others. We all make mistakes, but in order to change we have to make changes.

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