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Tag: New Jersey's Division of Consumer Affairs’ Bureau of Securities
Mahwah Financial Advisor Siphoned $1 Million From 98-Year-Old Widow's Account, State Says
A financial adviser from Mahwah pocketed nearly $700,000 and diverted another $300,000 or so of a 98-year-old widow’s money, said state authorities who stripped him of his ability to operate any longer in New Jersey.
John Joseph Cahill, 71, used the woman’s bank account to write and cash $693,990 worth of checks, state Attorney General Gurbir S. Grewal said Friday.
Cahill also used the account to pay his daughter, his wife, and various others more than $300,000 to provide unexplained services to the woman, the attorney general said.
Cahill had been granted power of attorney for the victim,…
