{"id":31983,"date":"2026-09-27T20:24:17","date_gmt":"2026-09-28T01:24:17","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=31983"},"modified":"2026-09-27T20:24:33","modified_gmt":"2026-09-28T01:24:33","slug":"elder-financial-abuse-9-2026","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/elder-financial-abuse-9-2026\/","title":{"rendered":"FINRA Arbitration Panel Orders Charles Schwab To Pay Over $1.3M After 82-Year-Old Customer Was Victim of Crypto Scam"},"content":{"rendered":"<h1>Outside Third Party Made Wire Transfers From Trust Account To Commit Elder Financial Abuse<\/h1>\n<p style=\"text-align: center;\"><em>A FINRA arbitration panel ordered Charles Schwab to pay over $1.3 million to the estate of an 82-year-old customer after failing to prevent third-party wire transfers linked to a cryptocurrency scam. The article highlights that brokerage firms can be held liable for failing to protect customer accounts from elder financial exploitation and notes that victims of such scams can seek legal recovery.<\/em><\/p>\n<p>A Financial Industry Regulatory Authority arbitration panel awarded the sons of a deceased customer nearly $1.34M in compensatory damages after finding that Charles Schwab &amp; Co. failed to stop a third-party from accessing the investor\u2019s money and illegally transferring assets in a scam involving Okcoin cryptocurrency. The Claimants contend that Schwab neglected to properly safeguard the account or respond to warning signs <a href=\"https:\/\/www.investorlawyers.com\/blog\/elder-financial-exploitation-2\/\">of senior financial exploitation<\/a>. They are accusing the firm of breach of fiduciary duty, breach of contract, negligence, and more.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/elder-financial-abuse-9-2026\/\"  title=\"Continue Reading FINRA Arbitration Panel Orders Charles Schwab To Pay Over $1.3M After 82-Year-Old Customer Was Victim of Crypto Scam\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Outside Third Party Made Wire Transfers From Trust Account To Commit Elder Financial Abuse A FINRA arbitration panel ordered Charles Schwab to pay over $1.3 million to the estate of an 82-year-old customer after failing to prevent third-party wire transfers linked to a cryptocurrency scam. The article highlights that brokerage firms can be held liable [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":31984,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3762,4768,5394,4055],"tags":[4523],"class_list":["post-31983","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-investigations","category-elder-financial-abuse","category-elder-financial-exploitation","category-featured-investigation","tag-elder-financial-abuse"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Elder Financial Abuse Attorneys<\/title>\n<meta name=\"description\" content=\"Protect seniors from wire scams and brokerage negligence. Learn how Charles Schwab was held accountable for Elder Financial Abuse and how legal recovery options can help victims.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/elder-financial-abuse-9-2026\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Elder Financial Abuse Attorneys\" \/>\n<meta name=\"twitter:description\" content=\"Protect seniors from wire scams and brokerage negligence. Learn how Charles Schwab was held accountable for Elder Financial Abuse and how legal recovery options can help victims.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2026\/09\/Elder-Financial-Abuse.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Elder Financial Abuse Attorneys","description":"Protect seniors from wire scams and brokerage negligence. 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Learn how Charles Schwab was held accountable for Elder Financial Abuse and how legal recovery options can help victims.","twitter_image":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2026\/09\/Elder-Financial-Abuse.jpg","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/elder-financial-abuse-9-2026\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/elder-financial-abuse-9-2026\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"FINRA Arbitration Panel Orders Charles Schwab To Pay Over $1.3M After 82-Year-Old Customer Was Victim of Crypto Scam","datePublished":"2026-09-28T01:24:17+00:00","dateModified":"2026-09-28T01:24:33+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/elder-financial-abuse-9-2026\/"},"wordCount":675,"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/elder-financial-abuse-9-2026\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2026\/09\/Elder-Financial-Abuse.jpg","keywords":["elder financial abuse"],"articleSection":["Current Investigations","Elder Financial Abuse\u00a0","Elder Financial Exploitation","Featured Investigation"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/elder-financial-abuse-9-2026\/","url":"https:\/\/www.investorlawyers.com\/blog\/elder-financial-abuse-9-2026\/","name":"Elder Financial Abuse Attorneys","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/elder-financial-abuse-9-2026\/#primaryimage"},"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/elder-financial-abuse-9-2026\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2026\/09\/Elder-Financial-Abuse.jpg","datePublished":"2026-09-28T01:24:17+00:00","dateModified":"2026-09-28T01:24:33+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"Protect seniors from wire scams and brokerage negligence. 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