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ALBUQUERQUE – Paul Donisthorpe, 62, pleaded guilty November 27 in federal court in Albuquerque, N.M., to wire fraud and money laundering charges arising out of a fraudulent scheme to embezzle more than $4.8 million from client trust accounts managed by Desert State Life Management (DSLM), a trust company he operated and controlled. Donisthorpe entered the guilty plea under a plea agreement that recommends that he be sentenced to 8 to 12 years of imprisonment followed by a term of supervised release to be determined by the court. The plea agreement also requires that Donisthorpe pay $4,812,857 in restitution to the victims of his crimes and that he forfeit the proceeds of his criminal activities.
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This case is not about nursing homes per se but it focuses attention on a problem that can menace individuals and their families when someone becomes limited in his or her ability to manage their own affairs. It occurred in my own home state.
“This was a heartbreaking case of an individual stealing millions of dollars from elderly, disabled, and other New Mexicans with special needs who depended on him to make sure their rent, medical bills, and living expenses were paid,” said Special Agent in Charge Terry Wade of the Albuquerque Division of the FBI.
According to the felony information document, Donisthorpe was the sole owner and operator of DSLM, a trust company that provided trustee and representative payee services for individuals requiring assistance with their financial affairs. As detailed in the felony information document, Donisthorpe perpetuated a decade-long fraudulent scheme pursuant to which he transferred more than $4.8 million from client trust accounts managed by DSLM into accounts he controlled and then used the money for his own personal purposes.
The entire Department of Justice news release about the case is available at https://wbeerman.com/home/court-documents/
