Scottsdale PD: Woman gambles away $386K of mother's retirement fund

Scottsdale PD: Woman gambles away $386K of mother's retirement fund
Posted at 12:17 PM, Jun 05, 2017
and last updated 2017-06-05 15:17:31-04

Police say a woman, who took control of her mother's $1 million retirement fund, stole about $775,000, gambling away $386,000 of it.

Scottsdale Police report that on June 1 they arrested 62-year-old Dianne Beth Butler at her home in north Phoenix. They say Butler had power of attorney over her 88-year-old mother’s finances and over a six-year period she used most of her mother’s retirement fund to finance a gambling habit and housing costs.

Police say she failed to pay her mother's property taxes and HOA fees.

Police reportedly found evidence that showed that over five years, Butler withdrew over $386,000 from several ATM's at Arizona and Nevada casinos.

Police say Butler also pawned two rings worth a total of $6,000 and took out loans against her mother's life insurance policy totaling just over $24,000.  

In full, police report Butler taking $775,650.99.

She has been charged with fraudulent schemes, theft of a vulnerable adult, trafficking in stolen property and unlawful use of a power of attorney.