Garden State Times

The New Jersey Senate has unanimously passed legislation S-1887, introduced by Senator Carmen Amato, aimed at establishing a new theft offense called "financial exploitation of the elderly." The Assembly companion legislation, A-4593, was introduced by Assemblyman Brian Rumpf and Assemblyman Gregory Myhre.

Following the Senate's approval, the 9th District Delegation issued a statement emphasizing accountability for those committing elder fraud. "Individuals who commit elder fraud and prey upon society’s most vulnerable persons must be held accountable under the law," they stated.

The legislation is designed to protect individuals aged 60 or older who suffer from age-related diseases or mental infirmities. It targets situations where someone in a position of trust uses fraud, false promises, extortion, or intimidation to compel an elderly person to transfer property. Those in positions of trust include individuals with fiduciary obligations or those receiving compensation for elderly care.

"Establishing this new offense under State law would empower law enforcement and the courts to bring to justice those found guilty of scamming vulnerable elderly persons out of their money or possessions," said the delegation.

Under this bill, financial exploitation involving less than $200 would be classified as a fourth-degree crime, carrying up to 18 months in prison and fines up to $10,000. If the amount involved is between $200 and $75,000, it becomes a third-degree crime with penalties ranging from three to five years in prison and fines up to $15,000. Amounts exceeding $75,000 remain classified as second-degree crimes with penalties including five to ten years imprisonment and fines up to $150,000.

Currently, A-4593 awaits consideration by the Assembly Aging and Human Services Committee. The full text of S-1887 is available online following its unanimous passage with a vote count of 40 - 0.