Deputies: 80-year-old man stole $300,000 from 88-year-old victim

PINELLAS COUNTY, Fla. – An 80-year-old Pinellas County man is facing charges for allegedly exploiting an 88-year-old man in a business deal.

According to a police report, William Planes entered into a real estate and financial advising agreement with the victim in Mar. 2018. Detectives say Planes convinced the victim to deposit nearly $1.5 million into his Coast to Coast, Inc. business account. Deputies say Planes kept more than $300,000 as part of a 20% contingency fee.

Investigators learned the victim did not speak fluent English, suffers from the infirmities of aging and did not knowingly agree to the fee.

Planes was arrested on Thursday.