05/07/2013

News / New Jersey man charged with stealing $122,000 from elderly woman by abusing power of attorney

A man from the township of Teaneck, New Jersey has been charged with misusing his power of attorney to steal $122,000 from an elderly family friend.

Patrick A. Reynolds was charged with theft by failure to make required disposition, misapplication of entrusted property and neglect of the elderly last week. He was incarcerated at the Bergen County jail in Hackensack, as he did not pay the $125,000 bail, local newspaper The Record reports.

Reynolds obtained power of attorney over the finances of an elderly family friend in 2011, Bergen County Prosecutor John L. Molinelli said. The woman was recovering from an illness and was being taken care of by Reynolds’ mother. But instead of ensuring the timely payment of the elderly woman’s nursing home bills and property tax, Reynolds used his power of attorney to take money from three bank accounts registered under the woman’s name to pay for his personal expenses, Molinelli alleged.

The elderly woman was eventually declared unable to take care of herself and was placed under the guardianship of her daughter, with Reynolds’ power of attorney rescinded.


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