March 06, 2012 | 04:08 PMELKHORN — A 46-year-old town of Walworth woman faces felony charges after she allegedly took about $35,000 from her father's IRA account without his authority.
Kimberly L. Doran, W4720 Stateline Road, has been charged by the Walworth County District Attorney's Office with theft from a business setting of over $10,000. If convicted, she faces up to 10 years imprisonment and $25,000 in fines.
Doran, who was appointed her father's power of attorney, allegedly told an employee managing the financial accounts that, "It was a loan and we are paying it back as we speak."
According to the criminal complaint:
On Jan. 23, 2011, Robert Schmoyer told police that in 2000 he became very ill and moved into a rest home in Chicago because his wife was no longer able to care for him.
In 2009, Schmoyer moved into the home of his daughter, Doran. By late 2009, he went back into a retirement home, which he described as a "dump."
While in the home, Doran visited her father, who told her he needed to leave the home because of its conditions and how the staff treated the residents.
In April 2010, Schmoyer moved to Eagle to live with Doran. At that time, Doran was given power of attorney over her father's finances, which was done to allow her to deposit his monthly Social Security checks.
In September 2010, Schmoyer spoke with Doran about his IRA account, which was in the name of his late wife. Schmoyer never gave his daughter permission to remove money from the account, but when he reviewed paperwork he saw that showed funds had been withdrawn.
In April 2011, a $5,000 check was deposited into Schmoyer's checking account, and he learned it came from an IRA. Schmoyer told police that whenever he asked his daughter about the IRA account, she would "scream."
Schmoyer asked Doran's husband, William, about this and he stated, "Bob, we've got the P.O.A. We can do whatever we want with that money."
Jeanne Racine, an employee of the company managing Schmoyer's accounts, on Jan. 24 met with Lake Geneva police.
Racine told police she met with Doran in March of 2010 and spoke with her about becoming her father's power of attorney. Racine said only Doran and her father had access to the IRA account.
On Sept. 9, 2010, Racine received a call from Doran requesting a $10,000 withdrawal from the IRA account for Schmoyer's medical expenses.
Racine warned Doran of the tax penalties involved in the withdrawal, but Doran insisted.
In May of 2011, Racine spoke with Schmoyer, who learned of withdrawals from his account, and said they were done without permission.
Schmoyer reported to Racine that his daughter had taken more than $35,000.
When Racine contacted Doran, she told Doran that Schmoyer was very upset and that he planned on taking legal actions relating to the withdrawal of the money from the IRA account.
According to Racine, Doran responded, "It was a loan and we are paying it back as we speak."