Elder Financial Abuse?: Brooke Astor’s Son Anthony D. Marshall Convicted of Stealing Millions from His Mother
A jury has convicted Anthony D. Marshall, the son of philanthropist Brooke Astor, of grand larceny for elder financial fraud. Marshall, 85, is accused of stealing tens of millions of dollars from his mother. He faces a maximum 25 years in prison. Astor, who was suffering from Alzheimer’s, died at age 105 in 2007.
Marshall was found guilty of 14 of the 16 counts against him, which included charges for conspiracy, forgery, and fraud. High profile celebrities, such as Barbara Walters, Henry Kissinger, and Annette de la Renta, testified that Marshall had abused his mother and attempted to enlarge his inheritance through her estate.
Elder Financial Abuse
According to a Virginia Tech, Metlife Mature Market Institute, and National Committee for the Prevention of Elder Abuse study, elder financial abuse costs older people about $2.6 billion annually. Elderly women are more susceptible to elder financial abuse than men. However, it is important to note that as with all elder neglect and abuse crimes, many elder financial abuse incidents go unreported.
Unlike physical abuse, which often results in physical injuries as evidence, financial exploitation is not a physical crime. This means that coupled with a victim who is mentally impaired, too weak, or too sick to act as a good witness, elder financial abuse cases can be harder to prosecute in criminal court. Elder abuse experts are hoping the outcome of the Astor-Marshall case will change this.
Elder financial abuse victims can also pursue an elder abuse lawsuit for damages in civil court.
Brooke Astor's Sad Legacy -- Money Changes Everything, Chicago Tribune, October 14, 2009
Brooke Astor’s Son Guilty in Scheme to Defraud Her, NY Times, October 9, 2009
Related Web Resources:
Broken Trust: Elders, Family, and Finances, Metlife.com (PDF)
Financial Abuse, National Committee for the Prevention of Elder Abuse
In Cook County, Will County, Lake County, and DuPage County, contact our Chicago elder abuse law firm today.
