Two accused of stealing $800,000 from elderly

Two Rocky River residents are facing felony charges after they allegedly stole $800,000 from an elderly man.

A Cuyahoga County grand jury indicted 53-yearold Patrick Smith and 54-year-old Lori Smith on Jan. 14 on two counts of theft, a first-degree felony, identity fraud and two counts of forgery, both fifthdegree felonies, according to a Rocky River police news release.

Police were contacted Sept. 18 by an undisclosed retirement home in the city regarding one of its residents, the release said.

The administrator advised that it appeared a 94-year-old resident’s family had been taking money from his bank accounts and the resident’s bills were not being paid.

The investigation revealed the victim named Lori and Patrick Smith (his wife’s niece and her husband) as powers of attorney and executors of his will in February 2015 after his wife’s death, according to the release.

The power of attorney document specifically prohibited the Smiths from using the victim’s funds for their own benefit.

In February 2015, the victim permanently moved to an assisted living facility.

Several months later, he transferred ownership of his Rocky River home to the Smiths, who already were to inherit through his will since he was no longer able to live there, the release said.

After moving to the assisted living facility, the victim relied on the Smiths to handle his day-to-day financial affairs.

In February 2015, the victim had approximately $1,019,000 in assets spread across multiple checking, savings and investment accounts in seven different banks, the release said.

That month, Lori Smith began to consolidate all of the victim’s money to a single bank and started using the victim’s funds for the couple’s personal spending, according to the release.

Between February 2015 and September 2018, the suspects completed over 3,800 bank transactions using the victim’s funds.

Their spending included: $47,000 in transactions to Amazon and Amazon companies; $25,000 in purchases at Costco; $16,000 in purchases at Giant Eagle; $25,000 in purchases at Lowes; $9,000 in purchases at QVC; $34,000 in multiple cash withdrawals; and $157,000 in payments to contractors to remodel the home the victim gave them, according to the release.

The also purchased Cleveland Browns season tickets, tickets for the 2015 NBA Finals and 2016 NBA Eastern Conference Finals, and at least one vehicle, a camping trailer and a boat, the release said.

The estimated amount spent by the Smiths not on the victim’s care is $800,000, the release said.

When the assisted living facility contacted Rocky River police in September 2018, the Smiths had totally depleted the victim’s estate, leaving only $4.94 remaining in his personal savings account, according to the release.

The victim only learned of the fraud after it was brought to his attention by the retirement community, the release said.

Once the theft was discovered, the victim revoked the Smiths’ access to his accounts and, with the assistance of the retirement community and the bank, was able to set up new accounts for the victim’s VA and social security benefits, the release said.

County Adult Protective Services were contacted and are assisting, according to the release.

“This couple took advantage of a loving family member and left him with nothing,” said Cuyahoga County Prosecutor Michael C. O’Malley. “We will hold them accountable and seek reimbursement for every dollar they have stolen.”

The Smiths must appear for an arraignment at 8:30 a.m. Jan. 29 at Cuyahoga County Common Pleas Court.