David L. Johnson, a 67-year-old antiques dealer from Greenwich, Connecticut, was sentenced Oct. 30 to 66 months in federal prison in a scheme that stole $2,168,719.24 from an elderly man and the man’s estate. The haul included more than $436,000 from a single federal tax refund check, according to the U.S. Attorney’s Office for the District of Connecticut. Johnson was ordered to pay $1,025,056.36 in restitution.
U.S. District Judge Michael P. Shea imposed the sentence in Hartford, along with three years of supervised release. Johnson pleaded guilty on July 21 to money laundering. He is free on a $500,000 bond and must report to prison on Dec. 14.
The case turns on who was trusted with the money. Around October 2018, the elderly victim signed documents naming Johnson as his agent under a power of attorney, as executor under his will and as successor trustee under his trust. Johnson was not a beneficiary of the estate or the trust. Anyone who has named someone to handle their affairs, or who has been named by a relative, has a reason to read how this played out.
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What did Johnson take, and how?
The victim died in August 2020 at age 87. After his death, the release says, Johnson took more than $436,000 from one of the man’s federal tax refund checks. The investigation found that across the victim’s money and his estate, Johnson took $2,168,719.24 in all.
Johnson ran Antique Treasures LLC and Greenwich Auction, both placed in Stamford in the release. What gave him access to the victim’s money, though, were the legal roles of agent, executor and successor trustee.
How much comes back to the estate?
Restitution of $1,025,056.36 is a little under half of the $2,168,719.24 that investigators say he took. Prosecutors say Johnson had already returned part of what he took before sentencing.
The prosecution was brought by Assistant U.S. Attorney David T. Huang and Special Assistant U.S. Attorney Andrew B. Spears, and the Internal Revenue Service Criminal Investigation Division investigated. U.S. Attorney David X. Sullivan announced the sentence.
What does an agent owe the person who named them?
The CFPB’s guide for agents under a power of attorney lists four basic duties: act only in the person’s best interest, manage the money and property carefully, keep it separate from the agent’s own, and keep good records. It says an agent generally should not lend or give the person’s money to themselves or others, and should not pay themselves unless the document or state law allows it.
The same guide tells agents not to deposit the person’s money into their own accounts and to keep a detailed list of money received and spent, with dates, reasons and names. If an agent suspects exploitation, it says to contact local adult protective services or the police or sheriff, and adds that the agent “may be required by law to do this.”
What can families do when one person controls the money?
The federal Consumer Financial Protection Bureau publishes guides for people named in a power of attorney and for trustees, aimed at those handling money and property for someone else. The same agency’s list of elder abuse resources says Adult Protective Services agencies receive and investigate reports of suspected abuse, neglect or exploitation of older and vulnerable adults.
That page points people to the Eldercare Locator, at 800-677-1116, to find local agencies. It also sends fraud reports to the Federal Trade Commission at reportfraud.ftc.gov. None of those routes are specific to this case, but they are where a relative who sees money going missing from an account run by an agent or executor can start.
Who would handle your money if you could not?
The victim in this case named an agent, an executor and a successor trustee, and all three roles sat with one person. Johnson was not a beneficiary of the estate, yet $2,168,719.24 of the victim’s and the estate’s money went through his hands.
The Pass It On Checklist is an 11-page guide to the paperwork behind who gets what and who is named in charge. It includes every beneficiary form checked, with a primary and a backup named, and it covers powers of attorney for money and for health care along with will versus living trust. This case is about money that left an estate, and the kit is the planning side of it: who is named, and who is the backup.
Get the Pass It On Checklist: beneficiary forms with a backup named, plus powers of attorney →
This article was produced with AI assistance and edited for accuracy against the sources linked above.
Warren Cohen is a finance writer based in Phoenix, Arizona, covering personal finance topics including credit, banking, and beginner investing. He earned his degree in business administration from Arizona State University and began his career working in consumer finance, where he gained direct experience with lending and credit systems. He now writes for personal finance websites and fintech platforms, focusing on clear, practical content that helps readers make informed financial decisions.
