Financial advisor accused of taking $893K from woman who was later murdered

Posted: Sep 14, 2018 11:48 AM -04:00 Updated:

A Lee County financial advisor for a couple impacted by Alzheimer's is facing more than two dozen charges of grand theft, money laundering, and exploitation of elderly.

David Del Rio friended the alleged victims Elizabeth "Betty" Cabral and her husband, William Cabral.

An affidavit states that in 2014, Del Rio became the sole beneficiary and financial adviser for the couple as William had Alzheimer disease.

Four years later, in April of 2018, court documents state that Betty was murdered in her condo.

The affidavit says that between September 2014 and March 2018, Del Rio transferred $893,000 from their accounts by writing 16 different checks.

Court documents go on to say that Betty became concerned about her dwindling finances and told family members.

Law enforcement, including a bomb squad, surrounded Del Rio's home on Gainsborough Way in Fort Myers on Thursday and arrested him on a warrant out of Palm Beach County.

Neighbors said detectives towed away vehicles, motorcycles, and file cabinets from his home. They said it wasn't the first time authorities have been at the house. They were investigating in May as well.

President of Penthouse Highland in Palm Beach County, Alan Croce, said Del Rio was taking advantage of the Cabrals.

“For a few years, he handled all of, I mean all of the finances for Betty Carbra,” Croce said.

Croce said he and some of his board members confronted Del Rio because they felt he was taking advantage of the 84-year-old.

“One time, he bought without her knowledge and refurnished the entire place, furniture moving out and in, some board members saw,” said Croce.

Court documents show Del Rio used the couples' money for at least 400 transactions, including an Audi, guns, and cruise.

"Del Rio will enter a plea of not guilty. Betty loved him and treated him like a son. Any type of rumor that he had anything to do with her death is ridiculous," said Del Rio's attorney, Michael Salnick.

Law enforcement is not investigating Del Rio for Cabral's death at this time.

 

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