Facts

Plaintiff Bernard Debonne, 87, suffered from severe depression with suicidal ideations. In approximately 2013, plaintiff gave control of his business affairs to his son, Yann Debonne, who managed the businesses while his father underwent treatment including several hospitalizations and full time caregivers. Yann was given power of attorney, was given signing authority on all bank accounts, and became a manager of various business entities.

Bernard Debonne individually and as trustee of his trust, Debonne Asset Management LLC, a company wholly owned by him, and Debonne Property Management Inc, a corporation wholly owned by him filed suit against Yann.

PLAINTIFF'S CONTENTIONS: During those five years, Yann spent millions from his father's personal bank accounts to buy vehicles and jewelry for his wife, private tuition for his children, and travel. Yann also bought a home to remodel for his family to move into and he forgave loan obligations his mother owed to his father.

During the depth of Bernard's illness, Bernard contended he suffered from delusions of financial ruin. Plaintiffs claimed Yann used such delusions to deplete his father's personal accounts to avoid a non-existent threat of IRA audit. Plaintiffs contended that when Bernard recovered and regained the ability to handle his affairs, he discovered that at least $2.5 million was taken by Yann. Plaintiff amassed a fortune in agriculture and real estate over the span of 40 years. Expert testimony confirmed the severity and vulnerability caused by Bernard's illness.

Plaintiffs asserted causes of action against Yann for breach of fiduciary duty, financial elder abuse and conversion.

DEFENDANT'S CONTENTIONS: The defense contended that Bernard was legally competent and gave express or implied consent to all of Yann's expenditures.

Result

The court found in favor of plaintiff and awarded $3,734,867.49, of which $2,009,683.00 was for breach of fiduciary duty and financial elder abuse in favor of Bernard and included punitive damages, $78,672.65 was in favor of Debonne Property Management for conversion, $1,637,137.54 was in favor of Bernard and Debonne Asset Management for a separate breach of fiduciary duty claim, and $9,374.30 in costs.

Length

20 days of testimony