California | Elder Law
Legal Question
Financial elder abuse
What can we do to recover aunt's stolen money? Or to punish the thief? A few yrs ago an acquainance of a then 82 yr old aunt asked to borrow money. Aunt wanted income and 14% interest sounded good so she loaned this 35 yr old couple about $120,000. They gave her a promissary note. They never repaid her anything after the first few months. I have recently seen that promissary note. Careful reading shows that they did not promise to repay. - says that they promise to pay the 14% per annum interest-only payments for a period not to exceed one year - no promise to repay the principal at all.
What can we do? The loan was made in 1992. Does elder abuse law apply? Is it too late to go to DA? Is it too late to sue?
thanks--jl
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Read More Answered By: Ken Koury |
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