COLORADO SPRINGS, Colo. (KKTV/Gray News) – A couple was placed behind bars in Lee County, Florida, this week after officials say they defrauded two women in Monument, Colorado, out of millions of dollars.
Philip and Nicole Scolaro are now facing five felony charges.
Scheme Targeting Vulnerable Victims
One of the victims was an older blind woman at the time of the alleged scheme. She has since died and was not able to find justice while alive.
“It happens way too often. I think a lot of it is, again, they don’t know that it is a scam,” Annie Hewitt, the director of health and wellness at Silver Key Senior Services, said.
The Scolaros told their victims they were the owners of a working gold mine in Africa.
Massive Financial Losses
Over the course of three years, the pair stole more than $4 million from two women, according to a 17-page grand jury indictment from the state of Colorado.
The Scolaros were arrested in Florida at the end of October.
The pair reportedly asked for investors to help extract, secure and transport gold from their so-called mine, with a promise of a return on their investment. That money, in turn, was used for their own personal expenses, buying properties and luxury cars.
Devastating Consequences for Victims
According to the indictment, one of the victims, identified as Martha Larson, was an at-risk person during the scheme. She transferred over three properties to the Scolaros, totaling more than $2.1 million.
The second victim, Leslie Cohen, gave them more than $800,000.
“It’s really sad when that happens because to be able to recover from that, it’s almost impossible,” Hewitt added.
Prior Criminal Record
The indictment also states this would not be Philip Scolaro’s first offense. The court papers detail that he has a lengthy criminal record, dating back to 1987 in New Jersey.
Philip Scolaro is also facing charges in Florida on crimes that include grand theft and fraud of less than $20,000.
There is no word yet on when the couple will be extradited back to Colorado.
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Insight:
This case highlights the importance of educating vulnerable populations about common scams and frauds. It also demonstrates the devastating impact financial exploitation can have on individuals, especially those who may not be able to recover from such losses easily. Additionally, the prior criminal record of Philip Scolaro raises questions about the effectiveness of the criminal justice system in preventing repeat offenders from committing similar crimes.
