Elderly Woman Financial Exploitation 05 Sep 13

A 78-year-old Mankato woman has been charged with multiple counts of financial exploitation of a vulnerable adult after allegedly taking hundreds of thousands of dollars from an 80-year-old man she had a relationship with. The victim was suffering from dementia when Erna Krahn Schroeder had her name added to his checking account. She was later given power of attorney over his finances, and around $106,000 of the man’s money was spent during their first year together. Over the course of 5 years, authorities allege that nearly a half-million dollars of his money was spent. That includes over $300,000 taken out of the ATM or through checks made out to “Cash.” During that time there was apparently no ATM activity on Schroeder’s checking account either, although she allegedly carried large amounts of cash, paid people to drive her to casinos, took several trips, and even paid thousands of dollars to an Elvis impersonator. Schroeder was arrested last week for the felony charges, and has since been released pending trial.