A 77-year-old man has pleaded guilty to stealing the life savings of an 85-year-old woman.
The Manhattan district attorney says Philip Leopold of the Bronx stole about $1.6 million from the woman’s bank and trust accounts.
The victim is hearing impaired and nearly blind.
The two had known each other for 40 years. The thefts occurred after he started helping her with financial tasks.
The DA says Leopold spent more than $500,000 of the victim’s money while shopping online. He bought jewelry, electronics and home goods.
He used another $300,000 to buy about 30 insurance policies for himself and his daughter.
He will be sentenced next month.
He pleaded guilty to grand larceny and offering a false instrument for filing.