A North Carolina man has been arrested and charged with grand larceny after New York State Police say he stole nearly $92,000 from his elderly parents.
57-year-old Steven Padgett was taken into custody on June 6 following an investigation that began in February. According to a press release from the New York State Police, troopers from the Horseheads barracks were contacted on February 25 regarding allegations of elder financial abuse.
Investigators determined that Padgett had withdrawn or spent a total of $91,995.37 from his parents’ bank accounts without authorization. Authorities described the victims as vulnerable elderly individuals, a key detail that led to heightened scrutiny of the alleged theft.
Padgett now faces one count of grand larceny in the second degree, a Class C felony under New York State law.
He was processed at the state police barracks in Horseheads and later arraigned in the Village of Horseheads Court. During the arraignment, one of Padgett’s parents was granted a stay-away order of protection.
Authorities have not released further details about how Padgett allegedly accessed the funds or over what period the withdrawals took place. The investigation is ongoing.
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