The state says he stole millions from California seniors. Courts missed warning signs for years

For over six years, a Los Angeles-area fiduciary altered bank statements and fudged court reports to steal more than $6 million from his clients, the California Attorney General’s Office claims, setting up what it called a “Ponzi-style” scheme to rob people who can’t take care of themselves. 

In May, state prosecutors filed grand theft charges against Gregory Oveross and his accountant, Faranita L. Corvalan, alleging what would be one of the largest fiduciary thefts in California history. Oveross and Corvalan pleaded not guilty and have been released on bond, awaiting trial. 

Prosecutors say Oveross misled his clients and the probate court. But court and other public records reviewed by CalMatters show that court officials and the state Professional Fiduciaries Bureau…

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Identity theft is the “foundational” fraud upon which many other crimes are built. It involves the unauthorized acquisition and use of a person’s personal identifying information (PII), such as an ID number, Social Security number, or passport details.

• How it works: Fraudsters obtain PII through data breaches, mail theft, or “social engineering” (tricking people into revealing details). Once they have this data, they can open new bank accounts, apply for credit cards or loans, and even receive medical treatment under your name.
• Synthetic Identity Fraud: A sophisticated variation where criminals combine real and fabricated information to create a completely new, “synthetic” person. This is particularly difficult to detect because there is no single victim to report the suspicious activity initially.