Former financial planner convicted of stealing over $ 100 from the elderly customer

Courts. (Credit: Flickr/Creative Commons)

David Dempsey, trusted in managing the life savings of an 84-year-old woman, is facing prison after leaving her resources for her personal luxury.

A former financial planner in New Hanover Township was convicted of stealing over $ 100,000 from an elderly woman in Salford, who trusted him to manage his finances, but he used life savings.

David Walter Dempsey, 36, who worked as CEO of Elder Care Direction and Uncommon Perspective Group, was found guilty of multiple accusations, including theft and illegal taking between October 2022 and July 2023, who affected an 84 -year -old woman, according to The Mercury.

Dempsey, who is free on a non-attacked bail of $ 10,000 and had to hand over his passport, was emotional while the verdict was announced, and the jury was deliberate for about two and a half hours after a three-day process, according to the report. The sentence was postponed until later, while a substantive investigation and evaluations for mental health, drugs and alcohol are completed.

Dempsey is experiencing a mandatory one -year prison sentence just for the charges.

Deputy District Lawyer, Gwendolyn Kull, expressed the decision to request a deadline for Dempsey, emphasizing the cruelty of his actions against the victim, according to the report.

She said that the woman and her late husband saved her whole life, trusting Dempsey to manage her funds. Instead, he violated this confidence and drained her resources, leaving it with nothing according to the report.

The victim was based on funds to lean after her husband’s passing in 2021, the authorities said.

Prosecutors accused Dempsey of using the woman’s money for a trip to Italy, luxury cars, a Rolex watch and a divorce pension.

In September 2020, the woman concluded a financial management agreement with Dempsey, totaling $ 284,000, on investigators. As part of the agreement, she was going to receive $ 4,400 a month. However, payments became inconsistent until October 2022, and the victim finally asked Dempsey to return the remaining $ 180,000, according to the article.

Despite the promise to return the money, Dempsey made various excuses and claimed that the bank was guilty for delays. In February 2023, he even claimed that a wire transfer was initiated, but an investigation revealed that such a transfer was not held, according to the report.

However, Dempsey defended his actions, suggesting that his financial management was a civilian and not a criminal issue, according to the article. His lawyer claimed that the case should be treated as a violation of the contract, rather than the criminalft.

During the testimony, the victim, now 86 years old, told her frustration and fear, as she desperately contacted Dempsey over several months to recover her funds. She expressed anxiety in her messages, even fearing that she will not live to see her returned, according to the report.

Her daughter also confessed about the many attempts to reach Dempsey, with little or unanswered or more excuses. The victim’s financial situation became serious and was left unable to pay the invoices or cover the expenses, because Dempsey failed to make the promised payments, the authorities say.

The investigation for Dempsey began in February 2023, when the victim reported theft to the Local Police.

The investigation revealed that Dempsey failed to make the woman’s monthly payments, and by June 2023, she remained with only $ 47 in her account, the police said. Had to withdraw money from the brokerage account to cover the life costs.