Financial advisor charged with stealing $750K from LI dementia patient

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Photo credit BRAD NADING/GARDEN CITY TELEGRAM / USA TODAY NETWORK

HEMPSTEAD, N.Y. (1010 WINS) -- A woman tasked with managing the finances of a 91-year-old dementia patient from Long Island was charged in Nassau County court with stealing $750,000 from her.

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When Marian Mahlmeister was first diagnosed with dementia, she hired a trusted friend and renowned attorney to manage her finances, but he passed that work onto his employee, Elizabeth Reilly.

Reilly faces charges of grand larceny for allegedly siphoning $750,000 out of Mahlmeister’s bank account.

Prosecutors believe she wrote checks for $30,000 and $50,000 directly from Mahlmeister’s bank account into her husband’s account between the years of 2016 and 2020.

Beyond the direct theft, Reilly used access to Mahlmeister’s bank account to pay for vacations, gym memberships and credit card bills, according to prosecutors.

Reilly pleaded guilty to embezzling $1.3 million while working as a bank employee in 2008.

Featured Image Photo Credit: BRAD NADING/GARDEN CITY TELEGRAM / USA TODAY NETWORK