Ex-IRS Agent Receives 12-Year Sentence for Defrauding Elderly Woman in California

A former IRS official based in Southern California has been sentenced to state prison for swindling an elderly woman in the San Francisco Bay Area out of $1 million in her lifetime savings.

Elana Cohen-Roth, an 81-year-old resident of Marina Del Rey in Los Angeles County, was sentenced to 12 years behind bars on Friday, according to an announcement from the office of Sonoma County District Attorney Carla Rodriguez. Cohen-Roth was found guilty of 23 felony charges related to financial deceit targeting a resident of Sonoma County.

Cohen-Roth's actions wiped out the victim's savings accumulated over many years of hard work. The victim remains financially ruined, and her life has been severely disrupted,

The fraudulent activities began in 2013, with Cohen-Roth taking advantage of her professional and personal relationships to access and manipulate the victim's financial data.

Under the guise of friendship, Cohen-Roth persuaded the victim to participate in supposed 'investment opportunities,' promising her a minimum of 10% interest with 'no risk,' carrying out this scam over 20 times between December 2013 and September 2019, with amounts ranging from $25,000 to $150,000.

Once the victim's legitimate assets were drained, she was even coerced into using a reverse mortgage to send more money.

It was disclosed that Cohen-Roth orchestrated a Ponzi scheme, convincing other investors to entrust her with substantial sums as well. She used portions of this capital to pay earlier 'investors' and supported an extravagant lifestyle, alongside making family gifts.

The fraudulent setup collapsed in 2020 when the victim asked to recover part of her money to relocate closer to family, which Cohen-Roth couldn't return.

By that time, the once self-sufficient 73-year-old victim had lost her home and considered part of her once $1 million investment, leaving her financially crippled, while Cohen-Roth lived comfortably off her assets.

Due to Cohen-Roth's age, the judge handed her a 12-year sentence, falling short of the potential maximum 28-year term.

District Attorney Rodriguez commented that the sentence was appropriate and aimed to offer some justice to the victim.