Former millionaire, 92, alleges two oldest children took his life savings

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Pete Stoopnikoff, 92, was a self-made millionaire, but now he says he can’t afford to put gas in his car because two of his children took nearly all of his life savings. Stoopnikoff says he has trouble sleeping and often breaks down when he thinks about his children’s betrayal.

Elder financial abuse are increasingly common

He alleges his two oldest children drained his funds from a shared account that was meant to cover his living expenses and duped him into signing over two other multimillion-dollar accounts as well as properties. Theft and fraud charges in cases of elder financial abuse are increasingly common, but the cases are challenging and difficult to investigate.

Read the full story at CBC News.

This article is summarized by Canadian Fraud News Inc.