Wisconsin Elder Fraud Statutes
In Wisconsin, examples of financial exploitation include:
- Obtaining an individual’s money or property by deceiving or enticing the individual, or by forcing, compelling, or coercing the individual to give, sell at less than fair market value, or in other ways convey money or property against his or her will without his or her informed consent.
- The substantial failure or neglect of a fiscal agent to fulfill his or her responsibilities.
- Theft or forgery.
A fiscal agent includes:
- A guardian of the estate
- A conservator
- An agent under the power of attorney
- A conservatorship under the U.S. Department of Veterans Affairs
Duty to report
Certain people are obligated to make a report if they believe an elderly person is at risk for exploitation or has been exploited, as per section 55.043. These people include healthcare workers, social workers, and professional counselors.
If a mandated reporter fails to make a report, they could face a fine of up to $500 and/or six months in jail. However, as long as a report is made in good faith, “no person may be held civilly or criminally liable or be found guilty of unprofessional conduct.”
Protective services for victims
Section 55.05 states that victims of financial abuse can get protective services. These are available for someone who believes he or she needs them and makes a request or a person acting on their behalf makes one. In some instances, a court may issue an emergency order for protective services for an abused elderly person.
Elder financial fraud penalties
If the court determines that someone “acted in a manner that was knowing and willful” they will be liable for damages between $500 and $1,000 for each violation.
Help is available for people who lost money due to financial fraud
It may be gratifying to see someone found guilty of financial exploitation have to pay large fines, but that won’t necessarily help victims recover their losses. If you lost money due to fraudulent activities, you may be able to recover it. One of your first steps should be to contact an elder financial fraud lawyer. For a free consultation from an experienced attorney, get in touch with the Silver Law Group.
You can call us toll-free at 1-800-975-4345 or send us a message through our online contact form. We work on a contingency basis, so unless we successfully help you get money back, you will not owe us a fee.
OUR FREE PROMISE
NO RECOVERY, YOU OWE US NOTHING
To contact our attorneys please fill out the form below.