A National Securities Arbitration & Investment Fraud Law Firm - Elder Financial Fraud Attorneys

Contact Us (800) 975-4345

Vermont Elder Fraud Statutes

Financial exploitation in Vermont has three different definitions:

Willfully using, withholding, transferring, or disposing of funds or property of a vulnerable adult without or in excess of legal authority for the wrongful profit or advantage of another

Acquiring possession or control of or an interest in funds or property of a vulnerable adult through the use of undue influence, harassment, duress, or fraud

The act of forcing or compelling a vulnerable adult against his or her will to perform services for the profit or advantage of another

Reporting duties

According to section 6903 of Vermont’s Human Services statute, certain people are required to make a report if they have a reason to believe that someone is being exploited. These include doctors, teachers, social workers, and healthcare workers. A report can also be made by anyone else who suspects exploitation.

This report should contain the names of everyone involved, the nature of the exploitation, and any other information that could be helpful. The person who makes the report will be immune from any criminal or civil liability if it is made in good faith, as per section 6908. If a mandatory reporter fails to make a report, they could be fined up to $5,000.

Penalties for elder exploitation

If someone is found guilty of financial exploitation and the value of the assets involved is more than $500, the penalty is a fine of up to $10,000 for every violation, according to section 6913.

Elder fraud actions

Section 6952 states that a civil action can be brought against someone who has exploited a vulnerable adult with “reckless disregard or with knowledge.” If the court determines that financial exploitation has taken place, damages could be awarded.

Take action now if you are the victim of elder fraud

Victims of elder exploitation shouldn’t wait for someone else to make a report. If you or a family member has lost money due to fraud, you should talk to an attorney to learn about a victim’s legal rights. For a free consultation from an elder financial fraud lawyer, get in touch with the Silver Law Group. We have a proven track record for helping elderly investors recover money, and we may be able to help you. And because we work on contingency, unless we’re successful, you will not owe us any fee.

Call us toll-free at 1-800-975-4345 or reach out through our online contact form.

(Visited 14 times, 1 visits today)