A man was arrested on Friday on charges of ripping off hundreds of thousands of dollars from an 84-year-old man, authorities said.
Thomas R. Dolloff, of Spring Hill, Florida, is accused of stealing over $100,000 from the elderly man who was his neighbor for several years.
The victim, identified as Edward M. Edwards, began to suffer from aging issues and his health began to rapidly decline in January 2011.
According to Hernando County Sheriff’s deputies, Dolloff, 56, began taking large amounts of cash from Edwards’ account, withdrawing $40,000 on January 31, 2011.
Edwards’ daughter, Cynthia, who lives out-of-state and holds the power of attorney for her father, noticed some suspicious activity on her dad’s accounts.
Dolloff also wrote checks payable to himself from Edwards’ account in the amount of $15,000 on February 8 and 11. A total of $70,000 was deposited into Dolloff’s account, deputies said.
In early February when Edwards went into hospital, Dolloff traded in his pickup truck for another one, using an additional of $9,000 in cash of Edwards’ money for the new truck.
Investigators said, Dolloff was able to convince Edwards to change his last Will and Testament reducing benefits that his daughters would receive, to a mere $1.00 each. During the same period, Dolloff coerced Edward into allowing him to become his beneficiary and trustee to his entire bank accounts, all annuities and life insurance policies, the home and the entire contents of the residence.
On Wednesday, March 23, 2011, the defendant’s bank account was frozen by the order of the Honorable Judge Stephen Rushing in hopes some of the victim’s assets can be recovered. The estimated total amount of loss to the victim is approximately $120,300.
Investigators said, Dolloff was able to perpetrate this crime against the 84-year-old Edwards by convincing him that his daughters were planning to take everything from him and place him in an assisted living facility.
Dolloff is charged with exploitation of the elderly in excess of $100,000, a first degree felony.
