Man Charged With Bilking Elderly Man Out of His Entire Estate

A Padanaram man is in the custody of federal marshals on charges that he bilked an elderly widower of his entire estate and tried to conceal the transactions.

Richard C. Souza, 45,was arrested at his home after an investigation by the Criminal Investigation Division of the IRS. He is accused of befriending a local man who had hired him to do work on his roof, then systematically bilking the man (identified in court papers only as “Larry”) of everything he owned and then some.

The complaint alleges that from 2003 to 2008, Souza — who had only $20,000 in reported income for the entire period — was soliciting odd jobs doing home repairs. One of his customers was an 84-year-old local man whom Souza befriended.

“In or about 2005, Souza proposed that he and Larry go into business together,” according to the complaint, written by investigator Timothy Saunders.

“According to financial records that I have reviewed, when Larry first met Souza in 2004, Larry’s net worth was approximately $750,000. His assets consisted of the equity in his house, funds in his investment and bank accounts, and his automobile.

“By 2008, Larry no longer owned his home, his investment and bank accounts had balances of approximately $1,452.58, and he had no automobile. His liabilities, however, had grown to approximately $144,638.77, which was comprised of approximately $52,643.06 in credit card debt and a mortgage of approximately $91,995.71.

“His total net worth was approximately $143,186,” the complaint said.

The government has asked the court to seize Souza’s property, which includes the house on Seaward Lane; a piece of land in Medway, Maine; two Mercedes Benz automobiles; and a commercial building at 368 Elm St. in Padanaram where Souza once had a real estate office and where his son operated a business dealing in exotic cars.

Full Article and Source:
Padanaram Man Charged With Bilking Elderly Widower Out of Entire Estate

3 Responses to “Man Charged With Bilking Elderly Man Out of His Entire Estate”

  1. Thelma Says:

    >If no one else will get 'em, IRS surely will!

  2. Anonymous Says:

    >Maybe we WOULD get quicker government response for abusive guardians IF WE DID did contact the IRS. The IRS would investigate and then ultimately expose the corrupt guardians business for tax fraud. Surely the "professional guardians/thiefs" are not honest regarding their taxes!!

  3. Anonymous Says:

    >Lock this guy up and throw away the key.

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