MACOMB COUNTY, Mich. (WJMN) — An Ontonagon man has been arrested for financially exploiting a vulnerable adult, according to the Attorney General Dana Nessel’s office.
61-year-old Richard Filbey was arraigned Wednesday on five felony charges, related to the accusation he embezzled more than $275,000 from an elderly woman while acting as her power of attorney. Filbey is charged with three counts of embezzlement and two counts of filing false tax returns.
We’re told in late 2018, Filbey began acting as power of attorney for the 86-year-old victim. During that time, the state alleges he lead her to surrender two of her annuities — one for $253,194.83 and one for $27,696.70 – and took all the money for himself. Filbey also sold property the victim owned and allegedly used the proceeds for himself.
“Many vulnerable adults require agents to manage their finances and most people who perform those duties do so with integrity,” said Attorney General Nessel. “But when fiduciaries put their own interests above those of the people they are charged with protecting, my office will hold them accountable.”
None of the funds were reported by Filbey as income on his Michigan tax returns.
Filbey will next appear for a Probable Cause Conference on September 19.