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Financial Advisor Defrauds A Chicago Woman With Dementia Out Of $400,000

Priscilla Eddings

 

According to NBC Chicago, a Chicago woman suffering from dementia was duped out of more than $400,000 by her financial advisor.

A case filed in Cook County Probate Court claims that Priscilla Eddings, 76, was cheated by her bank’s financial advisor beginning in 2017. Last month, the complaint was filed.

Eddings, a retired certified nursing assistant at St. Joseph Hospital, moved out of her Hyde Park home and into an assisted living facility just a few months after starting employment with Helen Caldwell.

In addition, the retired CNA began contributing hefty checks to Caldwell’s film firm, Canal Productions. Over a two-year period, the checks totaled $400,500. According to Charles Golbert, Eddings’ Public Guardian, the sum amounted to half of Eddings’ inheritance and savings.

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“She moves into assisted living and all of the sudden large checks start getting made payable to Canal Productions, checks running as high as $75,000,” said Golbert. “We believe she did not have cognitive capacity at that time.” 

“IT’S OUTRAGEOUS. CALDWELL HAD A FIDUCIARY DUTY TO MS. EDDINGS, WHO DID NOT RECEIVE ANY BENEFIT WHATSOEVER FROM THE CHECKS SHE WROTE TO CANAL PRODUCTIONS. AND WHERE’S THE OVERSIGHT BY HER EMPLOYER AT THE TIME?” 

He also noted Eddings’ job as a CNA and said she deserved better.  

“That’s a hard job and a giving job, and this is what happened to her after taking care of others during her working life, and by someone she was entitled to think she could trust,” he added. 

Golbert further stated that the funds would be used to help Eddings in her final years as she battles dementia. Caldwell was apprehended after Eddings’ granddaughter found the Canal Productions checks and requested legal guardianship over her grandmother.

The proceedings prompted a judge to order a court-appointed investigator to conduct a review. Golbert was appointed guardian, and he filed a lawsuit seeking that the court order the bank and Caldwell to disclose him with all information regarding to Eddings’ assets in order for the money to be repaid.

Eddings’ guardian also said the authorities have been contacted regarding Caldwell, who is no longer employed by the bank.  

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Written by How Africa News

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