Racine man accused of bilking elderly man of more than $65,000

RACINE CO. (WITI) -- 68-year-old James Waldrop of Racine faces a felony count of theft for allegedly stealing more than $65,000 from an elderly Racine man over a period of four years.

According to the criminal complaint, the victim's relatives called police after they "determined that between September 30, 2009 and July 16, 2012, (the victim) had conducted 287 transactions totaling $65,502.57 that he had given to Jimmie Waldrop based on his representation that Mr. Waldrop had an insurance settlement that would net him $85,000 and from that settlement he was pay (the victim) back."

The complaint indicates the victim kept a ledger  "indicating how much money he loaned to Jimmie Waldrop." He told officers he "does want to prosecute."

If convicted, Waldrop faces up to ten years in prison and $25,000 in fines.

Ironically, a Kenosha couple is also accused of bilking the same victim with a similar scheme. Read their story by clicking the link just below.

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