Couple Indicted on Charges They Stole $100,000 from an Elderly Relative March 25, 2010
Posted by jefhenninger in News.Tags: misapplication of entrusted property
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Nancy LaCorte, 49, and her husband, Robert LaCorte, 57, of Franklin Township, were charged in a five-count state grand jury indictment with conspiracy, theft by unlawful taking, theft by failure to make required disposition of property, and misapplication of entrusted property, all in the second-degree. They were also charged with third-degree money laundering. The indictment was voted yesterday and filed in court today.
The 88-year-old woman had granted a power of attorney over her financial accounts to Nancy LaCorte. Nancy LaCorte’s name was also added to the relative’s checking account, where her pension and Social Security checks were directly deposited. Nancy LaCorte was required to use the funds in the accounts for the benefit of the victim. However, it is alleged that between February 2005 and December 2007, the couple stole approximately $100,000 from the accounts.
Robert LaCorte, a licensed insurance agent, allegedly used $162,552 in funds from the victim’s IRAs without her knowledge to open two annuity accounts with a life insurance company. Robert LaCorte earned more than $11,000 in commissions for opening the accounts. The defendants allegedly stole a total of approximately $100,000 from the annuity accounts and two bank accounts of the victim by making withdrawals and transfers to their personal accounts. The thefts were uncovered after another relative learned the victim did not have funds to pay her rent.
White Collar Crime News 
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