Teaneck man stole $122,000 from elderly victim, prosecutor says

YOU READ IT HERE FIRST: A 50-year-old Teaneck man pocketed $122,000 from the accounts of a close friend of his mother’s while she recovered from a recent illness, Bergen County Prosecutor John L. Molinelli said this afternoon, announcing his arrest.

Photo Credit: Courtesy BCPO

Investigators from Molinelli’s White Collar Crimes Squad began investigating Patrick Reynolds after an attorney involved in a civil action told them that he’d financially exploited the woman, the prosecutor said.

Reynold obtained Power of Attorney for the victim in July 2011, while his mother took care of her, Molinelli said.

Over the next year, he said, “payments for the victim’s nursing home, property taxes, utilities and other daily expenditures were not being made.”

An examination of the woman’s bank accounts showed the Reynolds had pulled $122,000.00 from them for personal use, the prosecutor said.

On July 11, 2012, Superior Court Assignment Judge Peter E. Doyne declared the victim unable to care for herself and granted permanent guardianship to the victim’s daughter.

Reynold’s Power of Attorney was rescinded “and all withdrawals from the victim’s bank accounts had ceased,” Molinelli said.

Reynold remains free without bail pending grand jury action on charges of theft, misapplication of entrusted property and neglect of the elderly.


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