A Montgomery County man has entered a guilty plea after scamming elderly victims out of a vast sum of money. 53-year-old Ronald Scott Daley of Miamisburg acknowledged his crimes, which involved wire fraud and tax evasion, dating back over a decade, in U.S. District Court. The court recommended a maximum sentence of five years for the wrongdoing.
The elaborate scheme set up by Daley began in 2012 and extended until 2020. During this period, the man worked at a life insurance brokerage firm, advising elderly clients on life and annuity products. By manipulating these clients, he convinced them to shift funds from the firm into their accounts. He then deceitfully influenced them to transfer money to a company he controlled. One example provided showcased Daley defrauding three victims to the tune of more than $707,000 combined. Daley also conveniently failed to file and pay taxes on the illicit gains, further extending the shadow of his fraudulent behavior.
Sentencing is yet to be finalized, but as part of his conviction, Daley is ordered to return the roughly $707,000 in restitution. The case was declared on May 5 by various authority figures, including Kelly A. Norris, the Acting U.S. Attorney for the Southern District of Ohio, and officials representing the FBI and IRS Criminal Investigations divisions. Assistant United States Attorney Timothy S. Mangan represented the United States in prosecuting the case.
A statement obtained from the U.S. Attorney's Office for the Southern District of Ohio made details of the plea agreement available. The conviction seeks to bring closure to the victims who Daley misled. Authorities involved in the case have emphasized the seriousness of preying on elderly individuals.
