Singleton, Burzichelli, Caputo, Conaway & Lagana Bill to Protect Elderly from Financial Exploitation Released by Assembly Panel
(TRENTON) – Legislation sponsored by Assembly Democrats Troy Singleton, John Burzichelli, Ralph Caputo, Herb Conaway M.D. and Joseph Lagana to a create specific crime of financially exploiting elderly persons in New Jersey was released on Thursday by an Assembly panel.
The sponsors of the bill (A-2461) note that financial abuse is considered the most common form of elder abuse, costing its victims an estimated $2.9 billion each year.
“Financial crimes against the elderly are under-recognized criminal acts with devastating consequences for our most vulnerable residents,” said Singleton (D-Burlington). “We will not stand for it in New Jersey. This legislation strengthens the law to punish those who exploit our seniors.”
“The growing senior population is increasingly targeted for financial abuse,” said Burzichelli (D-Gloucester/Cumberland/Salem). “Con artists who prey on the elderly deserve a greater penalty than current law provides.”
“The unfortunate reality is that some people out there are looking to prey on the elderly and steal their life’s work and savings,” said Caputo (D- Essex). “This is a common sense step that sends a strong message that those who would exploit the elderly will be held accountable.”
“When you’re older and these financial crimes happen, it is difficult, if not impossible, to recoup the money,” said Conaway (D-Burlington). “Any crime committed against the elderly is a cowardly act. This bill upgrades New Jersey law to underscore the severity of these crimes and punish perpetrators appropriately.”
“This additional protection could prove crucial to protecting elderly people who otherwise could fall victims to scams,” Lagana (D-Bergen/Passaic). “Those who exploit our elderly need to pay a steep price and this bill would do that.”
The measure was released by the Assembly Health and Human Services Committee chaired by Conaway.