Bad financial advice
Local banker accused of stealing almost $90 thousand from elderly woman
A local financial adviser has been accused of bilking nearly $90,000 from a 91-year-old Chico retirement home resident.
Jeffery McClure, a personal banker who worked for Wells Fargo Advisors, allegedly gained the trust of a woman living at The Oakmont. The woman authorized McClure to pay her rent and other expenses, according to a press release from the Chico Police Department. McClure allegedly wrote dozens of checks to himself totaling $88,850 between December 2012 and August 2014.
Butte County Adult Protective Services received a tip about McClure by a mandated reporter working at The Oakmont last September. The CPD’s Detective Bureau assisted in the investigation. McClure was arrested on Tuesday (Feb. 10) and charged with identity theft, forgery, embezzlement and elder abuse.
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