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FOR IMMEDIATE RELEASE |
CONTACT: Erin Duggan |
DISTRICT ATTORNEY CYRUS R. VANCE, JR. ANNOUNCES ELDER FRAUD INDICTMENT |
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| Defendant Stole More Than $1.6 Million from Elderly Stepmother, Father Manhattan District Attorney Cyrus R. Vance, Jr., today announced the indictment of a Virginia man who stole more than $1.6 million from his elderly stepmother and father. A New York County grand jury has indicted PETER WILDE, 61, on felony charges of Grand Larceny and Criminal Possession of a Forged Instrument [1]. WILDE has been accused of misusing a power of attorney that his parents granted him, in order to drain their money from accounts held at the Citigroup Private Bank. “The defendant brazenly abused the trust that his elderly parents placed in him to manage their finances,” said District Attorney Vance. “Theft from vulnerable persons is a serious crime that this Office is committed to investigating, prosecuting and preventing.” WILDE is charged with one count of Grand Larceny in the First Degree, a class B felony, and two counts of Criminal Possession of a Forged Instrument in the Second Degree, class D felonies. A class B felony is punishable by 8-1/3 to 25 years, and a class D felony is punishable by 2-1/3 to 7 years. As charged in the indictment and described in a court filing, WILDE was born in Colombia but came to the United States in the 1960s, became a naturalized citizen, and has long lived in Virginia Beach, Virginia. His father and stepmother, Guido and Susanna Wilde, lived together in Colombia, and Susanna Wilde has remained there since Guide Wilde’s death in 2003. According to court documents, Guide Wilde maintained accounts at Citibank in Manhattan since the 1950’s, and held them jointly with Susanna beginning with their marriage in 1965. As the couple aged, they ceased making trips to the U.S. and granted a power of attorney to WILDE for the Citibank accounts. WILDE received all statements and handled all transactions pertaining to those accounts. Trusting Peter, Guido and Susanna Wilde did not see or ask to look at the account statements, according to information contained in the indictment and in court filings. As further described in court papers, beginning in 1996, WILDE began taking his parents’ money without authorization. As of August 3, 2001, Guido and Susanna Wilde’s accounts, which included investments and cash, had a combined value exceeding $1.7 million. Around that time, WILDE began increasing the unauthorized withdrawals from the accounts he had been making to pay for his own personal expenses. In total, according to court filings, WILDE took more than approximately $1.6 million from the accounts for his own use between April 1996 and December 2004, when Susanna Wilde learned of the account activity and revoked WILDE’s power of attorney. Assistant District Attorney Andrew Seewald presented the case to the Grand Jury under the supervision of Frauds Bureau Chief Michael Kitsis and Deputy Chief Micki Shulman. Senior Investigator Shannon Rowe and Investigator Alejandro Arenas led the investigation under the supervision of Joseph Pennisi and Terrence Mulderrig, Chief and Deputy Chief respectively of the District Attorney’s Investigation Bureau. Forensic Accountant Chun Ho assisted the investigation under the supervision Nicholas Cangro, Supervising Forensic Accountant, and Frank Puma, Chief of the Financial Crimes Bureau. Trial Preparation Assistant Jarrell Mitchell also assisted in the preparation of the case. Defendant information: PETER N. WILDE, DOB: 4/4/48 Charges:
A class B felony is punishable by 8-1/3 to 25 years, and a class D felony is punishable by 2-1/3 to 7 years. [1] The charges contained in the indictments are merely allegations, and the defendants are presumed innocent unless and until proven guilty.
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