Justice Prevails: LAWO Helps Victim of Ponzi Scheme

In August 2018, Mr. Singh* attended an Identity Theft and Senior Protection presentation and was soon after approached by the presenters with what sounded like a safe and sensible investment opportunity. The promise of a 4.5% annual return on his investment seemed like a secure financial move at the time, especially coming from the presenters themselves. He presumed them to be experts on such matters.

As time passed, it became clear that the “investment opportunity” was nothing more than a Ponzi scheme, with Mr. Singh the victim. The individuals behind the fraudulent business not only failed to deliver on their promises, but also manipulated Mr. Singh into divesting all he had under false pretenses, with various promises of a significant rate of return as well as assistance in qualifying for government benefits if he gave them permission to hold his money.

With limited English-speaking ability and a lack of understanding of financial matters, Mr. Singh had been taken advantage of and left in an extremely vulnerable position, eventually becoming reliant upon the financially and emotionally abusive actions of the investment company and its owners. When he shared the details of his story with Legal Aid of Western Ohio, Inc. (LAWO), we were committed to seeking justice for Mr. Singh, no matter how long it took.

“By the time Mr. Singh came to LAWO, most of his money had been drained from his accounts,” said LAWO Attorney Joseph Standford. “Mr. Singh is in his mid-60s. He had hoped to retire before long but was instead the victim of a Ponzi scheme. Soon after the abusers stole his life savings, they even began controlling Mr. Singh’s whereabouts. Mr. Singh so feared for his safety that he hid in a friend’s attic for several months before eventually moving to the Cherry Street Mission and later the Toledo Gospel Rescue Mission.”

Through diligent investigation and litigation, LAWO was able to recover all of Mr. Singh’s money and additional damages. The case settled for just under $400,000, an astounding and life-changing amount for a man who had once been homeless.

This client success was made possible through a collaboration with Lucas County Adult Protective Services and our legal team's persistence in pursuing justice. Mr. Singh’s case highlights the importance of LAWO services in protecting vulnerable individuals from financial exploitation and fraud from predatory people and companies. His story is a testament to the resilience and persistence of those who seek justice against scams targeting vulnerable older adults. 

*Name changed for privacy purposes.