Elder bank fraud: Officials warn of financial abuse following $1M theft in Clark County

SEATTLE - A former Wells Fargo branch manager convicted of ripping off more than $1 million is going to federal prison.

The Clark County man was sentenced at the U.S. District Court in Tacoma this week for preying on customers.

The U.S. Attorney’s Office Western District of Washington said Brian Davie, the former branch manager in Battle Ground, would target customers who were elderly, had disabilities, spoke different languages and were less apt to monitor their accounts. Davie was convicted of bank fraud and aggravated identity theft. He was sentenced to 42 months in federal prison.

"The wake of damage in this case is large. It involved multiple victims over some time," said U.S. District Judge Benjamin H. Settle during sentencing, "Our society depends on the trust of those who hold our finances."

U.S. attorneys said from March 2014 to June 2019, Davie used unauthorized cash withdrawals, money transfers, and cashier’s checks to embezzle a total of $1,279,840 from elderly customer accounts.

PREVIOUS COVERAGE: Former Wells Fargo bank manager sentenced for stealing over $1M from elderly customers

"A particularly vulnerable portion of our population. And for someone to take advantage of that for their own financial gain is, quite frankly, despicable," said Ethan Via, a special agent with the FBI Seattle office. "There’s not a person in this building whose blood doesn’t boil when they hear about a case like this."

Throughout the investigation, the FBI partnered with Wells Fargo and eight customers who were victimized by Davie. U.S. attorneys said one woman had $566,000 drained from her retirement accounts.

U.S. attorneys explained Wells Fargo partially reimbursed victims for their losses. On March 18, a federal judge will decide the amount of restitution Davie will owe.

Elder fraud is a crime Via said is "vastly" underreported.

"If we don’t have a report about it, there’s nothing we can do about it. So, it is critical for people to come forward as quickly as possible as well. Because time is of the essence in cases like this, before somebody’s entire life savings just walks out the door," said Via. 

Kay Tomlinson, a specialist with AARP’s Fraud Watch Network, said there is a reason some victims keep quiet and don’t report the crime.

"You have been victimized. It’s not your fault," said Tomlinson. "Don’t be embarrassed, don’t be ashamed. Don’t feel guilty, ‘How could I fall for that?’ Talk to that friend, that trusted loved one and share that with them."

For those who have been preyed upon, Via said to contact the bank first.

"They’re the ones that can stop the bleeding, if you will, because they’re right there. They can change accounts, change passwords for you," said Via.

The next step is to report the fraud and theft to law enforcement or the FBI’s Internet Crime Complaint Center, so investigators can get to work immediately.

To prevent it from happening to other senior citizens, AARP suggests online banking for all transactions and setting up online access to accounts.

"We get asked, ‘Why would I want to do that?’ And the answer being if your identity or your bank account information is stolen the fraudster can then set up online access pretending to be you and lock you out of your accounts," said Tomlinson.

AARP also advises seniors to get alerts on their cellphones.

"If you do have a smartphone, set up text messaging with your bank so that they will text you anytime there are transactions of any kind on your account. Anything over a dollar or limit that you’ve set ahead of time. That way, you can really keep track of what’s going on with your financial accounts," said Tomlinson.

As a specialist, Tomlinson hosts a virtual meeting every third Friday of the month at 10:30 a.m. called Fraud Watch Friday. It’s free and open to the public for those who want to learn about recognizing different types of fraud and how to protect themselves.

Victim Support Services has been serving Washingtonians since 1975, providing peer support and advocacy for victims of crimes. Janine Daniels-Moore, victim services coordinator, said their mission is to "support victims of crime through advocacy, education and awareness. All services are free. We offer services in King, Snohomish, Whatcom, and Skagit counties."

Along with receiving help from a trusted person, Daniels-Moore said senior citizens and vulnerable people should also follow this guidance to protect their financial and personal information:

• Use strong passwords.
• Shred financial documents.
• Be careful of people you meet online. Never share personal and/or financial information with them.
• Never give personal and/or financial information to a caller over the phone. For example, if someone calls and says they are from your bank, or a retailer like Amazon, and asks for personal and/or financial information, never give it to them and call your bank or the retailer directly.
• Never click on pop-ups, even if they say they're security related. Call your security software company directly. Look that number up directly. Do not call the phone number provided on the pop-up.
• Scammers will sometimes call and pretend to be someone you know. Never share your personal and/or financial information with them.
• Keep your operating system and software up to date.
• Never click on suspicious emails.
• Don't share personal information over public Wi-Fi connections.
• Maintain security software.
• Monitor your accounts. If you are not as tech-savvy, have a trusted individual assist you. But be careful with this as well, as some elderly fall victim to financial exploitation by family and/or trusted individuals.