An Effingham County resident is accused of siphoning over $330,000 from an elderly individual, facing severe federal repercussions, the U.S. Department of Justice reports. According to the U.S. Attorney's Office, Southern District of Illinois, Edward L. Stief, Jr., 41, has been indicted by a federal grand jury on five counts of wire fraud, one count of mail fraud, and one count of monetary transaction in criminally derived property.
"Financial exploitation of vulnerable populations is deplorable, and the Department of Justice is committed to supporting victims and combatting elder abuse in its many forms against offenders intent on enriching themselves at another’s expense," U.S. Attorney Rachelle Aud Crowe said in the statement.
"Seniors are a particularly vulnerable victim group and are often specifically targeted for financial fraud," FBI Springfield Special Agent in Charge Christopher Johnson said, the devastation wrought upon the elderly can affect their financial security, psychological peace, and even physical health. He encourages those who suspect such a fraud or know of an elder who might be a victim, to report immediately to law enforcement.
Mr. Stief is now in federal custody with a bail hearing scheduled for August 29 at the federal courthouse in Benton, as detailed by the U.S. Attorney's Office, Southern District of Illinois. Though each charge of wire and mail fraud could lead to a sentence of up to 20 years, the indictment remains a charge until proven in a court of law.
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