Financial Elder Abuse Does Not Require Economic Profit
A wealth adviser who gambled with the portfolio of a client, now age 90, and caused assets to dwindle from a value of $2,616,421 in August 2019 to $475,099.23 in December 2020, can be held liable for financial elder abuse though he did not pocket any of the property, Div. One of this district’s Court of Appeal has declared in affirming a $6 million award plus three-quarters of a million dollars in attorney fees.
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