Couple pleads guilty to defrauding elderly family member, using money for second home
By Stephanie Baumer
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FREEBURG, Missouri (KMOV) — A Freeburg couple pleaded guilty to defrauding an elderly family member out of nearly $200,000.
Ronald and Jean Speiser, both 81, pleaded guilty in federal court to two felony charges after the crimes. According to court documents, the Speisers were the victim’s power of attorney and successor power of attorney in estate documents.
In June 2018, they opened a joint account for Ronald Speiser and the victim at a Mascoutah bank and deposited a check for over $250,000 after selling the victim’s home. The Spiesers later spent over $200,000 of the victim’s money without the victim’s knowledge or permission to benefit themselves. The money was used to pay for home renovations, credit card bills, a camper, a truck and a second home.
As part of the plea agreement, the Speisers were sentenced to 12 months of home confinement. They were also ordered to pay full restitution to the victim, including $119,000 that must be paid before their Nov. 18 sentencing hearing.
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