WHITE BEAR LAKE, Minn. (KMSP) - The Ramsey County attorney’s office is charging a White Bear Lake, Minn. man with stealing tens of thousands of dollars from his late grandmother while she was suffering from Alzheimer’s disease.
Police say Dennis Lee Olson II, 42, moved his grandmother, Betty Jane Braun, to Minnesota in 2008 and placed her in a facility for assisted living and memory care. Olson managed Braun’s finances and her estate from 2008 until her death in 2013.
Following Braun’s death, Olson told family members he would provide information on the whereabouts and size of the state but failed to do so.
In May 2015, a family member reported suspicions that Olson had stolen from his grandmother to the White Bear Lake Police Department.
A criminal investigation by the Minnesota Commerce Department’s Fraud Bureau revealed Olson had opened joint bank accounts with his grandmother, which had a combined balance of $389,000. The investigation determined that, from October 2010 to January 2013, Olson repeatedly withdrew or transferred funds from several of Braun's bank accounts for his personal benefit using the power of attorney he obtained from his grandmother while she was suffering from Alzheimer’s.
Officials say Braun had assets of over $600,000 in 2008, but by the time of her death only about $15,000 could be located in bank accounts in her name. They estimate Olson took a hundreds of thousands of dollars from his grandmother since 2008. Due to the statute of limitations, he is being charged with stealing over $79,000.
Olson is being charged with one felony count of theft by swindle.