An IRS agent from Southern California was sentenced to jail for cheating an elderly San Francisco Bay woman on $1 million in savings for making a living.

Elana Cohen-Roth, 81, of Marina del Rey, Los Angeles County, was sentenced to 12 years in prison Friday, according to the office of Sonoma County District Attorney Carla Rodriguez. Cohen-Roth was found guilty of 23 counts of financial fraud on the program, which killed Sonoma County women.

"Due to Ms. Cohen Ross' greed, the victim's hard work and life-saving time disappeared. Unfortunately, the victim will never be financially financially and her life will be affected forever."

Prosecutors said Cohen-Roth began cheating victims in 2013 when she began preparing taxes at the age of 66.

"They quickly became good friends. From their personal and professional relationships, Cohen-Roth gained access to financial information for all victims," ​​the DA's office said.

Cohen-Roth offers victims what is called “investment opportunities”, and from December 2013 to September 2019, she promised at least 20 “risk-free” interest rates. The dollar amount ranges from $25,000 to $150,000.

After the prosecutor exhausted the legal investment, the victim took out a reverse mortgage and sent money to Cohen-Roth.

Prosecutors said bank records show Cohen-Roth is running a Ponzi scheme, and others believe they are investing and depositing a lot of money. Cohen-Roth used the money to pay off the earlier “investors” while the rest came to support the luxury lifestyle and send gifts to their families.

In 2020, when the victim asked for some of her money to return to her family, the Ponzi scheme collapsed, and Cohen Ross did not.

"The victim, who was 73, then aged 73, went financially impoverished from owning her own home, owning about $1,000,000 in investment," the DA's office said. "The elderly victim could not pay for her minimum daily living expenses, while Elana Cohen-Roth lived with comfort in his victim's money."

Prosecutors said the judge in the case sentenced Cohen-Roth to 12 years, not to a maximum term of 28 years due to Cohen-Roth's age.

"The judge's judgment is completely appropriate and hopes to provide some level of judicial measures for the victims," ​​Rodriguez said.