VERONA, NJ — A Verona financial advisor has been sentenced to seven years in New Jersey state prison after authorities said he stole more than $300,000 from an elderly client who trusted him to help manage her finances, according to a Monday press release from the New Jersey Attorney General's Office provided to Patch.
John Boston, 50, was sentenced following his May conviction on one count of second-degree theft and one count of second-degree theft by failure to make required disposition, according to the New Jersey Attorney General's Office.
Boston was convicted after a six-day trial before Superior Court Judge Patrick J. Arre in Essex County. In New Jersey, a second-degree conviction can carry a prison sentence of five to 10 years and a fine of up to $150,000.
"The sentence imposed here reflects our commitment to hold people accountable when they abuse positions of trust for personal gain," Attorney General Jennifer Davenport said in a Monday announcement.
According to documents filed in the case and evidence presented at trial, Boston worked as a registered financial advisor and contracted with the woman to manage her assets after she received an inheritance from her late brother.
In June 2017, Boston obtained a durable financial power of attorney from the woman, who was then 90 years old.
Trial evidence showed Boston stole more than $300,000 through ATM withdrawals, bank transfers and other transactions, according to the Attorney General's Office. Authorities said he depleted her accounts in less than two years, failed to meet her financial obligations, neglected her care and later diverted her Social Security benefits for his personal use.
"This defendant took advantage of an elderly client who trusted him to help manage her financial affairs," Acting Insurance Fraud Prosecutor Bernard J. Cooney said.
Boston resigned from his position in the securities industry in 2019 and has not been registered in New Jersey since, according to the state.
The case was prosecuted by Deputy Attorneys General Lawrence Krayn and Simret Michael of the Office of the Insurance Fraud Prosecutor's Medicaid Fraud Control Unit.
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