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A jaw dropping case of elder financial fraud by a woman's own grandsons led to an award to her of $19M. Learn steps to prevent such abuse.

by Tyler Durden Sunday, Apr 18, 2021 - 10:50 AM A former JP Morgan financial adviser has been barred from the industry after being accused of trading this grandmother's assets without her knowledge. According to the Financial Industry Regulatory Authority’s website, Evan Schottenstein, without admitting or denying the findings, agreed to the bar after the regulatory agency concluded he was not cooperating with their investigation into the trading of about $80 million for his grandmother, Beverly Schottenstein. Evan "refused to provide on-the-record testimony" to the regulator, according...

Beverley Schottenstein isn’t exactly sure when she suspected her grandsons were cheating her.  Perhaps it was when they shredded her bank statements. Or maybe it was when she discovered they had created an email account in her name. Or when she noticed hundreds of thousands of dollars spent from her account.  But by the end of 2018, Schottenstein, a member of one of central Ohio’s most prominent families, was confident something was wrong.  The following year, she made the momentous decision to take action against her own family members, grandsons Evan and Avi Schottenstein, and...

Florida woman, 94, wins $19 million fraud ruling against JP Morgan, grandsons Beverly Schottenstein, part of an Ohio retail dynasty, had alleged her grandsons had improperly managed her money.     The Financial Industry Regulatory Agency has ruled in favor of a 94-year-old South Florida woman who claims that JP Morgan Securities and her grandsons mishandled her money. [ Photo illustration by ASHLEY DYE and MARTHA ASENCIO RHINE | Times ] Updated Mar. 1 A financial arbitration group has awarded nearly $19 million to a 94-year-old Bal Harbour woman who claimed her two grandsons, then broke...