Alabama man accused of stealing more than $500,000 from elderly family member

An Alabama man has been charged with stealing more than $500,000 from an elderly family member, federal prosecutors said Tuesday.

U.S. Attorney Prim F. Escalona and FBI Special Agent in Charge Carlton L. Peeples said that a two-count indictment was filed in U.S. District Court charging Terrance Alonzo Pruitt, 47, of Bessemer, with wire fraud.

According to the indictment, in September 2023, Pruitt executed a Power of Attorney over the victim, an elderly family member, without the victim’s knowledge or permission.

Between September 2023 and December 2023, Pruitt devised a scheme to defraud the victim by becoming a joint account holder on the victim’s bank accounts, removing two payable on death (POD) beneficiaries from one of the accounts, and adding two POD beneficiaries to an account. Pruitt also transferred more than $500,000 in funds from the victim’s accounts to his personal bank accounts.

Pruitt faces a maximum penalty of 20 years in prison.

The FBI investigated the case. Assistant U.S. Attorney Ryan S. Rummage is prosecuting the case.

Reporting from consumers about fraud and attempted fraud is critical to law enforcements efforts to investigate and prosecute schemes targeting older adults.

If you or someone you know is age 60 or older and has been a victim of financial fraud, help is standing by at the National Elder Fraud Hotline: 1-833-FRAUD-11 (1-833-372-8311).

This U.S. Department of Justice hotline, managed by the Office for Victims of Crime, is staffed by experienced professionals who provide personalized support to callers by assessing the needs of the victim, and identifying relevant next steps. Case managers will identify appropriate reporting agencies, provide information to callers to assist them in reporting, connect callers directly with appropriate agencies, and provide resources and referrals, on a case-by-case basis.

Reporting is the first step. Reporting can help authorities identify those who commit fraud, and reporting certain financial losses due to fraud as soon as possible can increase the likelihood of recovering losses. The hotline is staffed 10am-6pm Eastern Time, Monday-Friday. English, Spanish, and other languages are available. More information about the Department’s elder justice efforts can be found on the Department’s Elder Justice website, www.elderjustice.gov. Victims are encouraged to file a complaint online with the FBI’s Internet Crime Complaint Center at this website or by calling 1-800-225-5324.