Federal authorities say a former North Carolina financial adviser has been sentenced to three years in prison for taking millions from an elderly woman with Alzheimer’s disease.
U.S. Attorney George Holding announced Wednesday that 66-year-old Harold Blondeau of Raleigh was also ordered to pay nearly $425,700 in restitution to the Internal Revenue Service, the victim, her trusts, and the charity founded with her money.
Blondeau pleaded guilty last year to investment adviser fraud and tax fraud, for not reporting or paying taxes on the illegal income. He admitted taking nearly $3 million from a then-83-year-old Raleigh woman.
Prosecutors say Blondeau bought a beach house, a wine collection and paid down his mortgage line of credit with her money.
Was this article valuable?
Here are more articles you may enjoy.
Lawsuit Alleges Farm Bureau Financial Concealed Fraudulent Activities 
SEC to Drop Controversial SolarWinds Cyberattack Lawsuit 
Florida Judge Orders Citizens’ Arbitration to Continue, Clashing With Other Order 
Single Loose Wire Led to Blackout That Caused Dali Crash Into Baltimore Bridge 
