Effingham man accused of defrauding elderly victim out of $330k

EFFINGHAM, Ill. (WCIA) — An Effingham County man is facing multiple federal charges accusing him of defrauding an elderly individual and stealing hundreds of thousands of dollars from him.

Prosecutors said that for six months last year, 41-year-old Edward Stief, Jr. knowingly devised and engaged in a scheme to defraud a victim identified only as “G.B.” The investigation, led by the FBI and supported by Effingham Police, found that Stief met G.B. while providing lawncare and landscaping services in May of 2023. Stief allegedly told G.B. that he would provide the medical and nursing care he needed.

G.B. granted Stief power of attorney on or around May 10, the investigation found, and G.B. left his nursing home facility the following October to be under Stief’s fulltime care. The indictment against Stief alleges that Stief became a signatory on G.B.’s bank accounts, containing all of his money, and Stief then convinced G.B. to cash out his life insurance policies.

Stief is accused of subsequently transferring G.B.’s money into his own personal accounts and then using the money for his own personal benefit, not G.B.’s. The indictment further alleges that while G.B. was under his supervision, Stief did not take care of him and inflicted bodily injury on him.

G.B. was not given access to Stief’s bank accounts, the indictment alleges, and he was not aware of the extent Stief was spending his money. Stief is accused of misleading G.B. into believing his money would only be used for G.B.’s benefit.

In total, Stief is accused of stealing more than $330,000 from G.B.

“Financial exploitation of vulnerable populations is deplorable, and the Department of Justice is committed to supporting victims and combatting elder abuse in its many forms against offenders intent on enriching themselves at another’s expense,” said U.S. Attorney Rachelle Aud Crowe.

As a result of the investigation, Stief was indicted by a federal grand jury on five counts of wire fraud, one count of mail fraud and one count of monetary transaction in criminally derived property. He faces up to 20 years in prison for wire and mail fraud and up to 10 for monetary transaction in criminally derived property.

Stief was arrested earlier this month, and he remains in custody pending a bail hearing on Aug. 29.

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