Financial Elder Abuse Via Silver-Tongued Swindlers

Yakima, WAExamples of financial elder abuse run the gamut from unscrupulous family members taking advantage of a senior to total strangers engaging in financial exploitation of elders. Such was the case of Leslie Fleming, who, according to the 5/18/10 issue of the Yakima Herald-Republic, had been frugal his entire life and saved every penny. He would make a habit of walking daily along North 40th Avenue in Yakima, collecting coins and redeemable cans from the sidewalk.

Along came Jim Schmidt, a drifter with a gift for the gab who talked Fleming into a phony investment scheme stemming from the sale of vacuum cleaners. Fleming fell for the ruse and lost $5,000.

In his 80s, Fleming remained silent about how he had been victimized, and spent the last months of his life attempting to win the money back. The old man was ill with cancer, and knew his death would predate that of his wife. He needed to get that money back for her.

The man who swindled Fleming, it turns out, was connected to an organized financial network focused on exploitation of the elderly. The swindler was already wanted in King County and in other states, and is now behind bars. Fleming's wife Bonnie aided Yakima County deputy prosecutor Therese Murphy in the pursuit and conviction of Schmidt.

"Schmidt seemed very genuine," Murphy said in comments published in the Herald-Republic. "He dressed well, he's good-looking and once he's inside a residence, he's very alert and picks up these people's life stories."

Perpetrators pull off this kind of scam by scoping out towns with large elderly populations, targeting mobile home parks and assisted living centers. They acquire addresses and phone numbers through reverse telephone directories, and then start making cold calls.

Their powers of persuasion are impressive, if misguided, Murphy says. Their biggest assets are their skills at manipulation.

Schmidt managed to acquire $150,000 from Ruth Blount after showing up at her door a few years ago, selling her a vacuum cleaner for $2,500. Blount already owned a Kirby, but she was no match for Schmidt's ability to mine her for useful information. Blount's late husband was also in sales, and he and the Blounts (supposedly) had common ties to Spokane, Washington.

It wasn't long before the swindler gained his victim's complete confidence, selling her on an investment scheme. He befriended the lonely senior and even managed to get himself written into her will.

None of the funds were recovered, and he was not charged in the Blount case. Schmidt was, however charged with elderly financial abuse of four other seniors.