A Roseville man pleaded guilty Wednesday to stealing nearly a half million dollars from his vulnerable, elderly mother.
James E. Moon, 65, pleaded guilty in Ramsey County District Court to two counts of financial exploitation of a vulnerable adult for stealing about $453,000 from his mother, who has dementia and lives in an assisted living facility.
Moon stood to inherit 50 percent of his mother’s assets. She had granted Moon, her only living child, power of attorney, but the agreement prohibited him from “appointing, assigning or designating any of [her] assets, interests or rights directly or indirectly” to his own estate or creditors, according to charges filed in the case.
Authorities said that his mother’s account had about $64,440 left over after Moon withdrew money from it between June and August of last year.
According to the criminal complaint: Moon issued checks from his mother’s account to pay for several personal bills, credit card bills and his daughter’s student loans, and to make a final payment of $260,000 on his mortgage, among other expenses.
An employee of First National Bank reported the withdrawals to the Minnesota Adult Abuse Reporting Center, prompting the criminal investigation.
Moon will have to repay the money, and is required to pay $125,000 within 60 days.
He is scheduled to be sentenced Aug. 12.