Morgan & Morgan Represents South Florida Retiree in $1.3 Million Elder Scam Lawsuit Against Chase

Elder financial scams often begin with something ordinary: an online ad, a phone call, a text message, a friendly voice promising an opportunity that sounds legitimate. By the time the truth becomes clear, the damage may already be devastating.

That is what allegedly happened to 80-year-old South Florida retiree Olga Ponorovsky, a retired engineer who says she lost more than $1.3 million after being targeted by online scammers. 

Ponorovsky came across what she believed was a legitimate online investment opportunity in September 2023. Over the next five months, fraudsters allegedly convinced her to withdraw and transfer large amounts of money from her Chase Bank accounts under the promise of investment returns that never came.

Now, Morgan & Morgan attorney Andrew Frisch is representing Ponorovsky in a lawsuit against Chase, alleging the bank failed to protect her from suspicious, high-risk transactions and failed to take steps that may have prevented the scam from escalating. Chase has denied liability, stating that scammers were responsible and arguing that Ponorovsky authorized the transactions herself.

The case raises an urgent question for seniors and their families: when an elderly customer is suddenly withdrawing massive sums of money in a pattern that does not match their normal banking behavior, what responsibility does a financial institution have to intervene?

How the Alleged Scam Unfolded

Ponorovsky made 30 transactions over the course of five months, totaling more than $1.3 million. Some individual withdrawals were enormous, including transactions of $80,000, $100,000, $149,000, and $210,000.

The withdrawals allegedly took place in person at a Chase branch in Hallandale, Florida, where Ponorovsky had banked for more than a decade. The lawsuit claims that branch staff were familiar with her banking habits and that the repeated high-dollar transactions were out of step with her prior financial behavior.

Those details matter. Elder scams rarely happen all at once. They often unfold in stages. A victim may be groomed over time, pressured to act quickly, instructed not to tell family members, or convinced that they are participating in a legitimate investment. By the time loved ones discover what has happened, the victim may have already made multiple withdrawals, transfers, or payments.

That pattern is one of the reasons this case is so important. Ponorovsky’s lawsuit does not simply allege that a scam occurred. It alleges that warning signs appeared repeatedly and that the bank had opportunities to stop, question, delay, or report what was happening before the full loss occurred.

Why Chase’s Alleged Role Matters

The lawsuit alleges that Chase’s internal systems flagged several of Ponorovsky’s transactions as suspicious but that the bank did not stop, delay, or question the withdrawals. The complaint also accuses Chase of failing to report the suspected exploitation to Florida’s Central Abuse Hotline.

Florida law requires the reporting of known or suspected abuse, neglect, exploitation, or self-neglect of vulnerable adults, and the Florida Abuse Hotline accepts reports 24 hours a day, seven days a week.

That legal backdrop makes this case more than a dispute over unauthorized versus authorized transactions. In many scam cases, banks argue that because the customer personally approved the transaction, the bank is not responsible for the loss. But elder exploitation cases can be more complicated. A victim may technically authorize a withdrawal while acting under deception, manipulation, pressure, or confusion. The legal question becomes whether other parties had reason to suspect exploitation and whether they met their duties under the law.

Frisch has emphasized that Florida has specific statutory protections aimed at these types of financial scams and that banks must follow those laws to help prevent financial devastation for senior customers. He has also stated that reporting the activity to Florida’s Central Abuse Hotline could have made a meaningful difference in Ponorovsky’s case.

Chase, however, has taken a different position. The bank told The U.S. Sun that the blame lies with the criminals who carried out the scam and that protecting customers remains a priority. Chase has also reportedly filed a motion to dismiss, arguing that Ponorovsky personally authorized the transactions and that the bank was not involved in the fraud.

Why This Case Is So Important

Elder financial exploitation is a growing national crisis. The FBI’s Internet Crime Complaint Center reported that people aged 60 and older filed 201,266 complaints in 2025, with reported losses totaling $7.7 billion. The FBI also reported that investment fraud was the largest category of cybercrime loss overall in 2025, accounting for more than $8.6 billion in reported losses.

Those numbers are staggering, but they still may not capture the full scope of the problem. Many older adults never report scams because they feel embarrassed, fear losing independence, do not realize they were exploited, or believe there is no way to recover what was lost.

That silence benefits scammers. It also makes prevention harder.

Cases like Ponorovsky’s matter because they challenge the idea that elder scam victims are simply on their own once money leaves an account. They also force a closer look at the systems that are supposed to detect suspicious activity. Banks routinely monitor transactions for fraud, money laundering, and unusual account behavior. When an elderly customer suddenly begins making repeated six-figure withdrawals, especially after years of more modest banking activity, families may reasonably ask whether those systems should do more than flag the transaction internally.

What Families Can Learn From This Lawsuit

Ponorovsky’s case is still ongoing, and the allegations against Chase will have to be tested in court. But the facts described in the lawsuit offer a powerful warning for families.

Elder scams can happen to intelligent, capable, independent people. Ponorovsky was a retired engineer. She was not careless. She was allegedly deceived by fraudsters using a familiar playbook: a promising investment opportunity, repeated pressure, and a pattern of escalating financial transactions.

The lesson is not that seniors should lose control over their finances. It is that trusted oversight can help catch warning signs before a scam drains a lifetime of savings. Families may consider discussing financial safeguards before a crisis happens, such as account alerts, trusted contact information, limited account monitoring, powers of attorney, or other arrangements that allow a loved one to spot unusual activity.

Most importantly, families should act quickly if they suspect something is wrong. The sooner suspicious activity is reported to the bank, Adult Protective Services, law enforcement, or an attorney, the better the chance of limiting further harm.

For Ponorovsky, the alleged loss was more than a number. It represented savings built over a lifetime. Her lawsuit is a reminder that elder scams are not just private tragedies. They are legal, financial, and consumer protection issues that demand accountability.

If you or someone you love lost money in an elder financial scam, Morgan & Morgan may be able to help. Our attorneys can review what happened, investigate whether warning signs were ignored, and help you understand whether you may have legal options. Contact us today for a free, no-obligation case evaluation.