Former IRS agent arrested in Ponzi scheme allegedly damages elderly Santa Rosa victim $1 million – CBS San Francisco

SAN FRANCISCO (CBS SF) – A former IRS employee and now Southern California tax professional was arrested last week and accused of running a Ponzi scheme that defrauded an elderly Santa Rosa woman of more than $1 million. within seven years.

On Monday, Santa Rosa police identified the suspect as Elana Cohen-Roth, 77, of Marina Del Rey. Police say Cohen-Roth’s Ponzi scheme included paying interest to her investors/victims, while using incoming “investment” funds to enable her to live a distant lifestyle flower.

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The victim initially filed a fraud report in December 2020, telling police that she had entrusted a substantial amount of money to an acquaintance to invest on her behalf. The woman told police she met the suspect in 2012 through a mutual friend.

In January 2021, police said the department’s property crime units had warrants to search the Marina Del Rey home of Elana Cohen-Roth, 77, as well as at her employer’s Los Angeles office, seized boxes of financial documents and correspondence. Until Monday night, tax attorney Mather Anderson listed Cohen-Roth in a page of his website as a registered agent and tax preparer with 20 years of IRS experience including tax auditors, field agents and appeals officers. Update: Website has been deleted.

In an email to CBS News San Francisco, Mather Anderson said, “Elana is not an employee of Mather Anderson and has never been. She is involved in several corporate IRS cases for accounting services. She also rents space from the company. This issue is not related to any of the company’s customers. “Police are not charging Mather Anderson with any wrongdoing.

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More than 12 months after the initial search warrant, detectives executed additional search warrants, reviewed additional documents and electronically communicated and interviewed other victims, police said. Detectives also examined bank accounts and thousands of transactions over several years of victims and suspects.

According to police, the victim lost more than $1 million over a seven-year period to Cohen-Roth. The victim told police she believed she was investing in highly profitable opportunities. When she ran out of money to invest and claim her investments, the suspect’s attitude and communication raised suspicions, police said.

Detectives confirmed their suspicions and learned the victim had lost more than $1 million to the suspect over a 7-year period. The victim believed she was investing in high-yielding investment opportunities, but police said when the victim ran out of money to invest and asked for her investments to be liquidated, her attitude and dealing The suspect’s follow-up has raised suspicions.

On January 18, Santa Rosa police detectives with the assistance of Los Angeles police officers arrested Cohen-Roth at her home in Marina Del Rey and placed her in the Jail at the Detention Center. holds the LA Metropolitan on 22 counts of financial abuse and 3 counts of money laundering. She is scheduled to be transferred to the Sonoma County Jail this week.

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Santa Rosa Police said detectives believe there were other victims of Cohen-Roth’s Ponzi scheme in California who also invested significant sums of money into highly profitable investments. Police urge anyone who believes they are a victim to contact their local jurisdiction. Potential Sonoma County victims have been asked to contact SRPD Property Crime Detective Jeff Woods at JRWoods@srcity.org.

https://sanfrancisco.cbslocal.com/2022/01/24/elana-cohen-roth-alleged-ponzi-scheme-santa-rosa-fraud-elder-abuse/ Former IRS agent arrested in Ponzi scheme allegedly damages elderly Santa Rosa victim $1 million – CBS San Francisco

Dustin Huang

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