Man Gets 27 Months In Federal Prison For Using POA To Rip Off Elderly Mom Of $99K, Leaving Her With No Money To Pay Retirement Home Bill

In Peoria, Illinois, the Journal Star reports:

• For taking nearly $100,000 from his elderly mother four years ago, a Bloomington man was sentenced to 27 months in federal prison Thursday. Douglas Shadewaldt, 59, [...] used the money to buy a motorcycle, a condo and a car, and not to pay for his mother's retirement home expenses. In addition to the prison term, which was at the bottom of his guideline range, Shadewaldt also must pay about $78,000 in restitution; $47,000 will go to his mother's retirement home and the rest to Medicaid.

• According to his plea agreement, the State Farm worker had power of attorney for his mother beginning in 2005 and cashed out four certificates of deposit at the Heartland Bank branch in El Paso, telling the clerks he was transferring the money to another account with a higher interest rate. Instead, the plea agreement states, he took the money and put it into his own account. His mother was left with no money to pay her retirement home bill and was forced to auction off all her belongings and go on Medicaid.

• He pleaded guilty in October to transporting stolen property across state lines. Four other transportation counts and five counts of wire fraud were dismissed as part of the plea agreement.

For the story, see Man gets 27 months for stealing from mom (Douglas Shadewaldt also ordered to pay $78,000 in restitution).