Illinois man charged in $1.4 million theft
ELKHORN — An Illinois man is charged in Walworth County with theft of about $1.4 million from an elderly relative who granted him permission to control her finances and health care.
Jason T. Larsen, 36, Rockford, Ill., is accused of transferring property valued at $1 million and withdrawing about $400,000 from the account of the woman, who was in her 80s. Authorities say the money was used for purposes other than the woman's needs.
The woman trusted Larsen would take care of her financial and personal needs, according to her attorneys, who earlier pursued a lawsuit against Larsen.
Attorney John Olson said Larsen and the woman in 2006 asked a Chicago attorney to prepare documents so Larsen could take control of the woman’s property. When the Chicago attorney refused, Larsen prepared the documents himself and persuaded the woman to sign them, Olson said.
He also convinced the woman to move into a Walworth County home with him, Olson said.
Days later, Larsen transferred the deed of the woman’s lakefront property in La Grange Township valued at $1 million to his name, according to court documents. He withdrew more than $400,000 from the woman's account over the next year.
The woman in 2007 discovered the transferred funds and property and demanded Larsen return both. She hired Olson and attorney Martha Cordell, who brought a lawsuit against Larsen.
Judge Robert Kennedy in 2008 ruled the deed void because of a breach of Larsen's fiduciary duty—his legal obligation to not benefit financially from the person who entrusted him with financial control.
At the time, Kennedy said Larsen maneuvered to obtain large amounts of money for his own possession and was unjustly enriched. The judge said the woman did not freely and voluntarily sign the property over to Larsen.
Kennedy also ordered Larsen to pay back more than $400,000. Larsen hasn't returned any of the money, according to court documents.
The Walworth County Sheriff's Office was contacted by Cordell in June. The district attorney's office this week filed criminal charges against Larsen.
A warrant for Larsen's arrest has been filed. He is believed to be in Illinois. If convicted, he faces 10 years in prison and $25,000 in fines.
Sep 20, 2010 at 9:03 a.m.
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I know a guy in Milton who did this to his family only he got away with 2.75 million
Sep 20, 2010 at 8:59 a.m.
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You right wing nut jobs who turn ANY story into your own personal forum to rant about politics make me want to puke.
Sep 20, 2010 at 7:48 a.m.
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kid I like you. Really do but quit feeding the trolls please.
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Poor lady will probably not see a dime of it returned.
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As for Mr Larsen, I sure hope $400,000 was worth ten years of freedom.
Sep 20, 2010 at 7:40 a.m.
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Rumor has it that Oobama ran out of people to steal from and this guy was just working for obama.
Sep 20, 2010 at 7:22 a.m.
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Crooks come from all walks of life, including yours.
Sep 20, 2010 at 6:52 a.m.
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This thief is scum. (PBR and RustyRoter, since you started it, I want to let you know that the guy is also a registered Republican. I have a feeling his voting days are coming to an end.) I hope the elderly woman is able to get some of the $400,000 back, but I doubt she will see any of it.
Sep 20, 2010 at 6:39 a.m.
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Pbr - good analogy, but change:
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Washington, DC for "osama obama."
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Substitute the congress for "his liberal."
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Now that might satisfy the kid, it would satisfy me.
Jan 22, 2010 at 12:31 p.m.
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pbrman are you serious?? this loser stole money from an elderly relative and you are equating that with how obama is running the country?? fear monger much?? geez.
Jan 22, 2010 at 8:05 a.m.
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This is a perfect example of income redistribution. This is nothing different then Osama Obama and his liberal gang want to do with YOUR money and property......
Dec 18, 2009 at 5:31 p.m.
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This is the "slimiest" of crimes. A family member? What a creep! I hope they find him and hit him with the "strong arm of the law"!!! Its disgusting to even consider that a relative could do this. How sad for this woman. To know she has been robbed blind by kin of her own blood.
Dec 18, 2009 at 2:08 p.m.
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Slim
Dec 18, 2009 at 1:21 p.m.
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Sadly this is more common than we hear. Whether a relative or a caregiver, the temptation seems to be very strong.
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The penalties are severe -- this is a Felony G, punishable with up to a $25,000 fine and 10 years in prison. The amount of the theft does matter, cuthbert, but there is also good reason to treat violent robbery even more severely, which I hope you understand.
Dec 18, 2009 at 11:40 a.m.
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The relative could have been a son, grandson, ect. The court gave him a chance to return the cash.
Dec 18, 2009 at 9:06 a.m.
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He already has an order to repay the money and return the property to her. Obviously, he has no intent on doing that so this is where he is now. Idiot.
Dec 17, 2009 at 7:51 p.m.
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Never steal anything small.
Dec 17, 2009 at 5:29 p.m.
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That's all he'll be fined for taking advantage of an eldery person? That's just as sick, maybe more so, than the crime!
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