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Saturday, July 12, 2008

'Despicable' financial advisor bilks 87-year-old widow out of her life savings

Crimes against the elderly are a growing trend.

This one is just unbelievable.

A 44-year-old mother of three has been sentenced to prison after she stole an 87-year-old Montgomery County widows entire life savings, $1.4 million.

The woman, Debbie Madosky, used the money to pay off her husband's business debts, to move into a $900,000-plus home, to purchase motorcycles and high-end vehicles such as a Hummer and to shop at Neiman Marcus, Saks and the like for jewelry, furs and other luxuries, according to a story by reporter Margaret Gibbons.

A judge sentenced Madosky to up to 12 years in prison.

"You, unfortunately, are one of the most dangerous types of predators we have in this country," Judge William J. Furber Jr. told Madosky. "You prey on the helpless, the elderly."

Read the full story in today's edition of The Mercury.

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