Son, 57, who stole more than £250,000 from his dementia-stricken mother and spent the cash on cars, luxury holidays and a failed business venture is jailed

• Karl Zierold, 57, splurged money on a failed business venture, cars and holidays 

A man has been jailed for fleecing his elderly mother out her life savings of more than £250,000 while acting as her power of attorney.

Shameless Karl Zierold, 57, splurged the money on a failed business venture, cars and luxury holidays after his mother Ann, who has dementia and is still unaware he took the money, moved into a care home due to her declining mental health.

Manchester’s Minshull Street Crown Court heard how Zierold and his brother James, who played no part in Karl’s nefarious scheme, were granted a lasting power of attorney (LPA) over Ann in 2019.

It gave them the power to make decisions about the retired social worker’s money and property, while their sister Heidi was granted a health and welfare LPA due to her mental health issues.

Meghan Edwards, prosecuting, said Zierold told his family about a business scheme he wanted to invest in along with a partner.

They were ‘resistant’ to using their mother’s money, which she’d saved so she wouldn’t be a ‘burden’ to them in her old age.

But Zierold went ahead with the investment anyway, later claiming it was ‘bridging loan’ that he intended paying back.

Karl Zierold, 57, splurged the money on a failed business venture, cars and luxury holidays after his mother Ann moved into a care home due to her declining mental health

Suspicions were raised when Ann’s ex-partner questioned why a car repair bill had gone unpaid, and her bank statements and cheque book were also found to be missing.

Zierold gave false excuses about ‘money being tight at the moment’, but when his brother James checked with the bank he found more than £200,000 had been withdrawn from their mother’s account and into the defendant’s, Ms Edwards said.

When James contacted Zierold, he told him: ‘Oh s***, I better tell you what happened.’

Zierold confessed that some money had been paid to a business partner Sam Evans as a ‘bridging loan’, but other spending only came to light after James reported his sibling for fraud to the Office of the Public Guardian, the body who makes decisions about LPAs.

It transpired that from early 2020 Zierold had spent money on shopping trips, a Mercedes GT, and holidays to Dubai and Mauritius – even paying for two rescue dogs and cats to be imported into the country.

‘His family had questioned how he could afford such luxury lifestyles as he was unemployed at the time,’ Ms Edwards said.

Zierold later wrote letters to family members admitting he’d taken his mother’s money.

From her £251,132 savings, the court heard, £189,024 was given to Mr Evans, £7,448 spent on car bills, and £10,358 on holidays and days away.

In a victim impact statement, Zierold’s sister Heidi Morley described her mother, now 79, as a hardworking and dedicated mother who had brought up four children alone and offered foster care into her 60s.

She said her family had put their ‘trust’ in her brother and the breaking of that trust had resulted in a ‘whole host of financial complications’ and they had now lost the ability to manage the mother’s affairs how they wanted.

‘There’s a strong likelihood mum’s situation will not be financially resolved and Karl will never be able to pay back the money,’ she said.

Zierold, from Stockport, Greater Manchester, pleaded guilty to one count of fraud by abuse of a position of trust at an earlier hearing.

But the court heard that his mother was still unaware of her son’s crime, due to her condition.

Rhia Abu Khali, defending, said Zierold had intended returning money for the business venture to his mother and had now removed himself from her will to ‘offset’ what he’d lost.

Manchester’s Minshull Street Crown Court heard how Zierold and his brother James were granted a lasting power of attorney (LPA) over Ann in 2019

She also pointed to his admissions of guilt to his family.

Jailing Zierold for three years and four months, Judge Jason MacAdam said he had taken advantage of his mother to enjoy a luxury lifestyle.

Judge MacAdam said: ‘She was vulnerable and because she was vulnerable it was your role to spend her money in her best interests.’

He said Zierold had pressed ahead with the business venture, although his family had not agreed to it, which had been a gamble, and he’d done it for ‘personal profit’ because his mother only needed ‘basic necessities’ and had ‘enough money to provide whatever she needed’.

The judge described his mother as a hardworking woman who ‘put money aside so she wouldn’t be a burden’ when she needed care in her old age.

‘The phrase chip off the block is a far removed as it could be when it comes to you,’ he said.

He said that Zierold had become a ‘burden’ himself to his family, adding: ‘It’s hard to think of someone who should more ashamed of their financial crime than you.’

Speaking today FRI, Ann’s former partner Hugh Crosswood, 73, said at his home in the picturesque North Wales countryside: ‘He was the first (eldeslt) son. She would be devastated if she knew what happened.

‘He’s gained nothing. He’s lost his family and the money – gone for a few years’ high living.’

Mr Crosswood revealed the victim’s three other children are still battling HSBC to recover the money.

The retired engineer said: ‘The bank should’ve been suspicious of large withdrawals of cash because it was a savings account. It wasn’t an account that was used regularly and a lot of money was withdrawn in a short space of time.

‘Because he had power of attorney, they were supposed to keep a better watch.’

Mr Crosswood added: ‘I feel betrayed, badly let down by him. It was Ann’s money and kept in case she needed any extra care or medical attention she would require above and beyond her normal care. It was the kids’ inheritance. It was a huge shock when I discovered what had happened.’

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