Miami, FL – A former financier has admitted to defrauding his elderly relative of approximately $8.4 million. Brett Thomas Graham, 61, entered a guilty plea in the Southern District of Florida, acknowledging his role in the scheme.
Graham’s involvement began around 2017 when he started assisting his newly widowed family member. By November 2018, he helped her engage a financial advisor based in New York. The following year, in February 2019, she sold her New York townhouse for nearly $9 million. By September 2019, Graham began transferring funds from her accounts into his own, using the money for personal expenses.
In December 2020, Graham became the family member’s power of attorney, a position obligating him to act in her best interest. Instead, he continued his fraudulent activities. That same month, he requested $250,000 from the financial advisor under the pretense of covering his relative’s medical and care expenses. The funds were instead used for his personal benefit.
Further exploiting his position, Graham sought an additional $400,000 in November 2022, claiming it was for “amazing investment opportunities.” He subsequently spent over $300,000 on credit card bills, art, travel, and rent.
Authorities have successfully seized approximately $2 million in jewelry and art acquired with the fraudulent proceeds. Graham is scheduled for sentencing before Judge Donald M. Middlebrooks on September 16.
The FBI’s Miami Field Office conducted the investigation, with the U.S. Attorney’s Office acknowledging the support of the U.S. Securities & Exchange Commission. Assistant U.S. Attorney Eli S. Rubin is leading the prosecution, while Assistant U.S. Attorney Sandra Demirci managed asset forfeiture.
