Power of attorney accused of bilking elderly couple out of $900K
HIGHLAND BEACH, Fla. — A man who gained the trust of an elderly couple, the wife later found murdered, is accused of exploiting them after nearly $900,000 was withdrawn from their accounts, according to a probable cause affidavit.
William and Elizabeth Cabral retired to Palm Beach County, Florida and were befriended by David Del Rio, 35, of Lehigh Acres, Florida, at the bank where they transferred their funds, the affidavit said.
William Cabral was diagnosed with Alzheimer’s disease and died in April 2017.
Elizabeth Cabral, 85, was killed in her Penthouse Highlands condo on April 30, 2018, deputies said.
While examining her banking records, it was discovered that a large amount of cash had been removed from the Cabral’s accounts between 2014 and 2018, the affidavit said.
Investigators allege Del Rio, while acting under a power of attorney, breached his fiduciary duty by making financial transactions via check in the Cabral’s name into an account under his control.
They say approximately $893,673.08 was withdrawn from William and Elizabeth Cabral’s SunTrust account and their Bank of America account via 16 checks and deposited into an account set up by Del Rio.
The money was used to pay for more than 405 personal transactions including a 2017 Audi A sedan, utility payments, home improvements, firearms, suppressors, firearms equipment and payments to Royal Caribbean Cruise line, the affidavit states.
Del Rio was booked into the Palm Beach County Jail and faces charges of exploitation of the elderly, money laundering, organized scheme to defraud fraudulent use of personal ID and grand theft.