Longmont police arrested 61-year-old Mark Pressey of Denver on Tuesday on a charge he used his power of attorney to steal from a 93-year-old blind relative.
Police said Pressey stole up to $535,323.91 from 1996 until 2007 from the unnamed relative’s retirement account.
Once an investigation began 10 months ago, Pressey began paying back $1,000 a month, according to a statement from Longmont police.
Without his relative’s knowledge, Pressey took money from the retirement account to pay for his own medical bills and start several unsuccessful businesses, police said.
He also is accused of getting credit cards in the relative’s name and cashing out a life insurance policy.
Pressey is free on a $100,000 personal recognizance bond. Joey Bunch, The Denver Post
