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RayAnswers, Attorney
Category: Estate Law
Satisfied Customers: 41004
Experience:  Texas lawyer for 30 years in Estate law
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My Dad died 14 years ago, leaving the family business to my

Customer Question

My Dad died 14 years ago, leaving the family business to my Mom. My oldest brother stepped in as General manager. At that time, the business was worth 4.1 million, and had no debt. Today, the business is 600,000.00 in debt, and my oldest brother has run it into the ground. He runs it as if he owns it, but he is just an employee. My Mom owns it. He buys personal items with the business credit clubs, family vacations,football game trips,
distillery tours etc. He has basically spent my inheritance and my younger brother's inheritance. Can he be charged with financial elder abuse, in regards ***** ***** Mother, who is now 88, and can he be charged with fraud for acting like the owner and spending the money of the business until it is basically almost bankrupt ?
Submitted: 1 year ago.
Category: Estate Law
Expert:  RayAnswers replied 1 year ago.
Hi and welcome to JA. Ray here to help you tonight. Yes he can be charged with elder exploitation and fraud here.You should report this to Adult Protective Services and law enforcement here.This should be prosecuted he has taken advantage of her and her funds and business. I am so sorry that she has been mistreated this way.If you give me your state here be happy to get that number for you. Thanks again for the chance to help.
Expert:  RayAnswers replied 1 year ago.
If you get me your state here I will get you the law on exploitation and where to report it, thanks.