Detectives assigned to the Economic Crimes Unit have arrested 80-year-old William Planes, after exploiting an elderly man by transferring a large sum of the victim's money into a business bank account, belonging to Coast to Coast Group Inc., which Planes was employed.

80-Year-Old Florida Man Arrested After Exploiting 88-Year-Old Man Out Of $322K

PINELLAS COUNTY, FL. – Detectives assigned to the Economic Crimes Unit have arrested 80-year-old William Planes, after exploiting an elderly man by transferring a large sum of the victim’s money into a business bank account, belonging to Coast to Coast Group Inc., which Planes was employed.

According to detectives, in March of 2018, the 88-year-old victim entered into a business relationship with William Planes, of Coast to Coast, Inc., regarding real estate and financial advising. Detectives say the victim received a litigation settlement after the sale of two commercial entities.

Upon receiving the settlement, Planes convinced the victim to deposit $1,450,000.00 into his Coast to Coast, Inc. business account.

Detectives say in September of 2018, when the funds were set to be released to the victim, Planes informed him he was retaining $322,943.90, as part of a 20% contingency fee.

Throughout the course of the investigation, detectives learned the victim did not speak fluent English, suffers from the infirmities of aging, and hired Planes as a trusted financial advisor. Detectives discovered the victim did not knowingly agree to the 20% contingency fee.

On March 10, 2022, William Planes was taken into custody by detectives and transported to the Pinellas County Jail.

Planes was charged with exploitation of the elderly. The investigation continues.

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