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Illinois Man Sentenced to 12 Years in Federal Prison for Financially Exploiting an Elder

A district judge sentenced an Effingham County man to 12 years’ imprisonment after he admitted to exploiting an 89-year-old man out of more than $400,000. Edward L. Stief, Jr., 42, pleaded guilty to one count of wire fraud, one count of mail fraud and one count of unlawful monetary transactions in criminal derived property. The judge ordered him to pay $411,773.51 in restitution. According to court documents, Stief met the victim in May 2023 after becoming acquainted with him while offering lawn care and landscaping services. Shortly thereafter, Stief used several misrepresentations to convince the victim to appoint him as his Financial and Healthcare Power of Attorney. After becoming the victim’s Power of Attorney, Stief became a signatory on the victim’s bank accounts. In August 2023, he talked the victim into cashing out his life insurance policies and deposited most of the victim’s money into Stief’s personal bank accounts. Over the course of the next several months, Stief spent the entirety of the victim’s life savings on himself. In addition, Stief also took the majority of the victim’s personal items including his gold coin collection, gold necklaces, guns and watches. In October 2023, Stief persuaded the victim to leave a nursing home facility and move into his full-time care. Under Stief’s supervision, the victim was not cared for and his medical needs were not met.