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Ex-Financier Gets Seven Years for $8.4M Elder Fraud: How He Exploited Family’s Trust

Ex-financier Graham got seven years for defrauding a family member of $8.4M. Used funds for lavish expenses.

September 19, 2025, 10:02 AM

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Executive Summary

Former financier Brett Thomas Graham was sentenced to seven years in federal prison for defrauding an elderly family member of approximately $8.4 million.

Graham exploited his position, including obtaining power of attorney, to siphon funds for lavish personal expenses such as overseas vacations, luxury jewelry, and artwork.

Law enforcement seized about $2 million worth of jewelry and art purchased with the fraudulent proceeds, underscoring their commitment to protecting seniors from financial exploitation.

Laws and Precedent

Brett Thomas Graham was sentenced in federal court for wire fraud, a federal offense typically prosecuted under 18 U.S.C. § 1343, which prohibits schemes to defraud using interstate wire communications. This case, tried by a U.S. District Judge, underscores the federal government’s commitment to prosecuting financial exploitation, especially of elderly victims, and included asset forfeiture proceedings to recover fraudulently obtained assets.

A former financier, Brett Thomas Graham, 61, has been sentenced to seven years in federal prison for defrauding an elderly family member of approximately $8.4 million. The sentencing took place on September 16 by U.S. District Judge Donald M. Middlebrooks in Miami after Graham pleaded guilty to wire fraud, culminating an investigation by the FBI Miami Field Office.

Details of the Fraud Scheme

According to court documents, Graham began assisting his widowed family member in 2017. He helped her secure a financial advisor in November 2018, shortly before she sold a New York townhouse for about $9 million. Within months of this sale, Graham started siphoning funds from her accounts into his own, using the stolen money for lavish personal expenses.

These expenditures included overseas vacations, luxury jewelry, artwork, and various other personal costs. The scheme intensified after Graham obtained power of attorney over his family member’s finances in 2020, an authority he then exploited to continue his fraudulent activities rather than acting in her best interest.

Exploitation and Misappropriation

In December 2020, Graham falsely informed the financial advisor that $250,000 was needed for the family member’s “higher medical & care expenses.” These funds were subsequently spent by Graham on himself. Later, in November 2022, he requested an additional $400,000, citing “amazing investment opps.” More than $300,000 from this request was used for his credit card bills, art purchases, travel, and rent.

Law enforcement officials were able to seize approximately $2 million worth of jewelry and art that Graham had purchased with the proceeds of his fraud. The U.S. Attorney’s Office for the Southern District of Florida, along with the FBI, emphasized their commitment to protecting seniors from financial exploitation.

Official Statements and Prosecution

U.S. Attorney Jason A. Reding Quiñones for the Southern District of Florida condemned Graham’s actions, stating, “Exploiting an elderly family member to steal millions is unconscionable. We will hold fraudsters accountable and protect seniors from abuse.” The announcement was made by U.S. Attorney Reding Quiñones and Special Agent in Charge Brett D. Skiles of the FBI, Miami Field Office.

The U.S. Securities & Exchange Commission provided assistance in the case, which was prosecuted by Assistant U.S. Attorney Eli S. Rubin. Assistant U.S. Attorney Sandra Demirci handled the asset forfeiture aspects of the case.