David Saks: West Virginia Couple Sentenced - Defrauded Elderly to Purchase House

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West Virginia Couple Sentenced - Defrauded Elderly to Purchase House

West Virginia Couple Sentenced for Defrauding

Elderly Victim to Purchase Beach House

U.S. Attorney’s Office February 25, 2015
  • Southern District of West Virginia (304) 345-2200

WHEELING, WV—A Wetzel County couple was sentenced in federal court today after they stole nearly $400,000.00 from a 90-year-old victim to purchase a vacation home in the Outer Banks, United States Attorney William J. Ihlenfeld, II, announced.

In October 2014, a jury found

Timothy Summers,

67, and

Lea Ann Summers,

52, of Proctor, West Virginia, guilty of one count of “Conspiracy to Commit Mail Fraud” and one count of “Securities Fraud.” The jury further found Lea Ann Summers guilty of four counts of “Mail Fraud.” The jury further found Timothy Summers guilty of one count of “Interstate Transportation of Stolen Property.”

Timothy and Lea Ann Summers were each sentenced today to

24 months in prison.

Evidence presented at trial showed that the couple collaborated to liquidate a significant portion of the victim’s investment holdings in PPG Industries stock.

In late 2013, Lea Ann Summers called the stock holding company, Computershare, impersonating the victim, and sold 2,175 shares of PPG Industries stock.

Mrs. Summers then arranged for the proceeds of the sale,

approximately $397,030.15, to be sent to herself rather than the


Timothy Summers deposited the proceeds and transferred the money into a bank account which he shared only with his wife.

The couple then travelled to North Carolina and purchased a beach house in the Outer Banks for $243,173.61.

As part of today’s sentence, the couple was also ordered to pay restitution in the amount of $397,030.15.

Assistant U.S. Attorneys David Perri and Michael Stein prosecuted the case on behalf of the government. The Federal Bureau of Investigation led the investigation.

Chief U.S. District Judge John Preston Bailey presided.

This content has been reproduced from its original source.

David Saks

Time&Temp Memphis

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Comment balloon 8 commentsDavid Saks • February 26 2015 01:03PM


Glad to read that these two were caught and prosecuted, David.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) almost 5 years ago

Sad case, Gabe Sanders 

Have a great weekend.

Posted by David Saks ((retired)) almost 5 years ago

Hi David,

The elderly are so easy to pray-on, I'm glad these two were caught and sentenced and have to pay restitution to the victim. 

Posted by Adrian Willanger, Profit from my two decades of experience (206 909-7536 AdrianWillanger-broker.com) almost 5 years ago

Ditto Adrian Willanger 

Posted by David Saks ((retired)) almost 5 years ago

Hi David -- very sad case.  Although they must pay restitution, I'm sure the victim's life is forever changed.   

Posted by Michael Jacobs, Los Angeles Pasadena 818.516.4393 almost 5 years ago

I agree Michael Jacobs 

Posted by David Saks ((retired)) almost 5 years ago

Hi David,

Such a crime to take advantage of the elderly, as in Florida this is common..


Posted by Monique Combs, Royal Shell Real Estate - Monique Combs (Royal Shell Real Estate ) almost 5 years ago

It's common throughout the nation, Monique Hailer & Todd Combs, PA , sadly. Thanks.

Posted by David Saks ((retired)) almost 5 years ago

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