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After careful review of the COVID-19 environment, the law firm of Chayet & Danzo, LLC, will be conducting in-person appointments in our offices on a limited basis and with strict social distancing protocols.

During this time, our team will continue to diligently work remotely on all client matters and will maintain communication through email, telephone, and video conferencing. Our main office number, (303) 355-8500 will continue to be answered during our normal business hours of 8:00 a.m. to 5 p.m. Monday – Thursday and 8:00 a.m. to 4:00 p.m. on Fridays.

This decision to have limited appointments in-office while following strict social distancing protocols is in the best interest and health of our team, clients and community.

We will continue accepting new clients during this period as well as fully servicing our existing clients.

We wish you and your family continued health during these unique and challenging times.

Compassion, talent and dedication:
guiding colorado families and Their Trusted Advisors During Times of Need

Financial adviser bilked over $2.3 million from senior clients

| Apr 18, 2019 | Elder Law |

At our law firm, we focus on protecting senior citizens from abuse of all kinds through representation of vulnerable elders as well as family members or friends responsible for or concerned about their parents, grandparents or other elderly relatives or friends. Unfortunately, financial abuse of seniors is common, whether perpetrated by fiduciaries, caregivers, family members, strangers or professionals.

Trusted investment adviser swindled elderly clients through elaborate schemes

Last month, the Chicago Tribune published an account of a financial adviser who will go to prison for five years for his theft of over $2.3 million over four years from 24 elderly clients. The descriptions of the adviser’s behavior read like classic examples of “undue influence.” This is a legal concept applied when someone, through manipulative and often deceptive actions and communication, causes an elderly person to rely on and trust the person at such a significant level that it can be said that the elder loses control over his or her own decision-making powers.

In the Chicago case, the defendant groomed his victims by creating great trust so that they gave him access to their money in the mistaken belief that he would reinvest it in their best interests. Sometimes the relationship was decades long before he turned on them. His methods included using church-based relationships, falsely claiming affiliation with a respected company and acting like he cared about their well-being.

Cautionary tale

This story provides a clear lesson about financial abuse — that you can never be too careful about whom you (or your elderly loved one) does business with. Sadly, no matter how long you have known someone or how much you think you can trust them, background checking and following up to be sure they are doing what they claim to be can be crucial.

An elder law attorney can provide advice and information about potential practical and legal remedies for suspected or confirmed financial abuse.


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