Freeburg Couple Sentenced for Defrauding Elderly Family Member

EAST ST. LOUIS, Ill. – Ronald Speiser, 81, and Jean Speiser, 81, of Freeburg, Illinois, will spend their  next  year  in  home  confinement  making  restitution  payments  after  defrauding  an elderly family member out of nearly $200,000. The Speisers pled guilty to two counts of fraud and were sentenced on Thursday, November 18, 2021, in U.S. District Court in East St. Louis, Illinois. According to Court documents, the Speisers were designated as the victim’s power of attorney and successor power of attorney in the victim’s estate plan. In June 2018, the Speisers exercised their authority  over  the  victim’s  finances  by  opening  an  account  at  Citizens  Community  Bank in Mascoutah, Illinois, and depositing a check for  over $250,000 after selling the victim’s home. Starting around December 2018, and continuing until at least June 2020, the Speisers abused their access  to  these  funds  by  spending  over  $200,000  of  the  victim’s  money  without  the victim’s knowledge or permission, and for purposes that did not benefit the victim. Their spending spree included over $50,000 in personal home renovations, paying over a year’s worth of personal credit card bills, purchasing a new camper and new truck, and making a down payment and thirteen mortgage payments on a second home. To continue reading the rest of the article, please click on the source link below: https://www.justice.gov/usao-sdil/pr/freeburg-couple-sentenced-defrauding-elderly-family-member