Couple pleads guilty to financial exploitation of an elderly person
Online Staff Report
Kathleen Peterson, 69, and Gary Peterson, 71, both pled guilty to a Class 1 felony of financial exploitation of an elderly person Thursday, Dec. 11, before Judge Fernando Engelsma.
As part of their pleas, the Petersons were sentenced to 180 days in the Winnebago County Jail and will be on probation for four years.
The Petersons will also have to pay $75,000 in restitution immediately, with another $125,000 due before the end of their probation sentence.
In 2013, Rockford police conducted an investigation involving the victim, Miriam Nyman. The victim was introduced to the defendant as her financial adviser. The defendant subsequently obtained power of attorney over all of the victim’s financial matters. Investigators revealed numerous withdrawals were made from the victim’s accounts for investment purposes that were deposited into the personal accounts of Gary and Kathleen Peterson.
Financial exploitation of an elderly person is a Class 1 felony punishable by either probation or a sentence of four to 15 years in the Illinois Department of Corrections and two years of Mandatory Supervised Release.
Posted Dec. 12, 2014