Brett and Alan Ormsby’s grandfather lost over $3.5 million in a Ponzi scheme. (Greg Anderson, KSL TV)

HIGHLAND — Elder fraud often goes unreported and is difficult to prosecute, but the crime can cost seniors huge sums of money and years of grief.

Brett and Alan Ormsby’s grandfather was hardworking and thrifty. “James Robert Miller was his name,” said Brett Ormsby, who lives in Highland.

“He grew up in the Great Depression,” Ormsby said, adding his grandfather was also generous. “He paid for our missions and helped people with schooling.”

Twenty years ago, he invested in some properties out of state.

“What they really were doing was kind of running a Ponzi scheme. They were taking money in from a variety of investors and then not putting it back into any of the apartment complexes,” said Alan Ormsby, AARP Utah state director.

Their grandfather lost “over $3.5 million,” Brett Ormsby said.

Sadly,…

Read more…