MONTGOMERY — Limestone County District Attorney Brian C.T. Jones and Alabama Securities Commission Director Joseph Borg announced that William Rodney Jackson of Athens pled guilty before 39th Judicial Circuit Court Judge B. Chadwick Wise to Financial Exploitation of the Elderly, a Class B felony. Jackson was sentenced to five years in the penitentiary and will begin his sentence by serving three years of probation. As part of the plea agreement, Jackson was ordered to pay $13,500 in restitution. Jackson paid $6,500 at the time of sentencing and must pay the remaining balance by December 2023. Jackson is barred from the securities industry. If Jackson violates the terms of his sentence, he will then serve the remainder in jail. 

Jackson violated Alabama’s Financial Exploitation of the Elderly Act when he intentionally deceived four individuals, aged 60 or older, and obtained their money.

“Alabamians are fortunate that we have laws that allow the prosecution of those who look to exploit the elderly financially,” said ASC Director Joseph P. Borg. “We want the message to be clear, that if you financially exploit anyone, especially an individual over the age of 60, there will be serious consequences.”

“We appreciate the cooperation of District Attorney Jones and his hard work with the ASC in resolving this case,” said Chief Deputy Director Amanda Senn. “Our elderly are particularly vulnerable to grifters and conmen and our office places a strong emphasis on this criminal activity.”

The ASC cautions citizen investors of all ages and experience to thoroughly scrutinize and research any investment opportunity or offer. Contact the ASC at (800) 222-1253 to check out any person or financial professional offering an investment opportunity or investment advice for a fee, and the products they offer for proper registration. Contact the ASC to report suspected fraud, inappropriate securities business practices or to obtain consumer information. The ASC provides free investor education and fraud prevention materials in print, on our website and through educational presentations upon request.