The Center For Combating Elder Financial Abuse is a veteran operated, nonprofit organization. Our federal tax ID number is 86-2379029

Every dollar helps!

The Center For Combating Elder Financial Abuse is a veteran operated, nonprofit organization. Our federal tax ID number is 86-2379029.

David Alcorn

Location: Arizona

Age at the time of arrest: 78

Date of sentencing:  August 30, 2022

David Alcorn is sentenced to 15 years in prison for stealing $20 million from several elderly victims. 

Before he was sentenced, Alcorn worked as an investment broker. From being in this line of work he became very skilled as a broker and made many contacts. Unfortunately, being in this business, he couldn’t get over the abundance of money accessible and the greed. Alcorn was one of 11 co-conspirators that were able to steal $20 million from the elderly. This all started when Alcorn and his partner started selling fraudulent investments. They then convinced individuals that they should invest. This then led Alcorn and the other co-conspirators to cash out the elders 401k and other retirement accounts to pay for the predator’s luxurious lifestyle. When the money was being transferred from the elder’s accounts to the predators’ accounts it was marked as fees, so less people would become suspicious. 

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