On Thursday, Elana Cohen-Roth, an octogenarian ex-IRS agent, was handed a 12-year state prison sentence for a brazen fraud against an elder, stripping her victim of life savings. Cohen-Roth's conviction on 23 felony charges comes after a jury deliberation for a Ponzi scheme that spanned seven years, as reported by the Sonoma County District Attorney's Office. The scam began in 2013, when Cohen-Roth established professional and personal trust with her victim, initially through tax preparation before misleading the victim into transferring large sums with promises of high, risk-free returns.
According to the Santa Rosa Police, beyond this single victim's misfortune, Cohen-Roth's fraudulent activity possibly extended to more individuals, accumulating a total exceeding $4.8 million. The discovery was part of an intensive investigation led by Detective Jeff Woods, who meticulously traced Cohen-Roth's crimes from her California-based home and business operations, Hoodline reported. The investigations brought to light not only the financial ruin of a single elderly individual but a broader canvas of deception.
Highlighting the gravity of the situation, District Attorney Carla Rodriguez said, “The victim’s years of hard work and lifetime savings are gone due to Ms. Cohen-Roth’s greed. Unfortunately, the victim will never be made whole financially and her life is forever impacted." The sentencing by Judge Paige Hein reflected the serious nature of the crimes and the enduring impact on the victim. However, Cohen-Roth received a reduced term instead of the maximum 28 years, considering her age. In a statement obtained by the District Attorney's Office, Rodriguez welcomed the judge's decision as a meaningful gesture toward justice for the victim.
The victim, initially beguiled by the trust placed in Cohen-Roth due to her professional IRS background, saw her millionaire status drained to nothing as she was forced into a reverse mortgage, and eventually into debt, to keep investing in the sham opportunities Cohen-Roth presented. The intricate web woven by Cohen-Roth fell apart only when the victim, needing to move closer to family, asked for a return of funds, revealing the unsustainable nature of the Ponzi scheme, as detailed in court documents and thereafter reported by the Hoodline article.
