3 suspects charged with widespread fraud scheme targeting Texas elders

MCKINNEY, Texas — McKinney police have arrested three suspects charged in connection with a financial exploitation scheme targeting the elderly across Texas, including around DFW.

Christian Bolding, 31, and Eric Ell, 23, were charged with financial abuse of the elderly, a third degree felony, and false statement to obtain property or credit, a state jail felony. Prakash Krishnaraj, 58, was charged with false statement to obtain property or credit, a state jail felony.

All three reportedly operated under businesses named Precision Home Pros and Krishnaraj Construction, police say. Investigation revealed the suspects would reportedly approach older adult victims at stores and in public and offer to reduce their bills on things like cable and phone service. 

These victims, police say, were then reportedly misled into switching their service providers for the installation of low-cost streaming and security devices. Then, the suspects would reportedly use electronic signature platforms to fraudulently transfer victims’ signatures onto long-term loan agreements without them knowing. 

These false documents resulted in loan disbursements ranging between $13,000 and $32,500, police say, with the suspects receiving the money and the victims left repaying 20-year loans with interest. 

Police estimate the total financial impact of the scheme to be about $1.5 million so far. More than 75 possible victims have been identified, including eight in McKinney.

“The scope of the fraud involved in this case suggests that the operation may be far more expansive than what has been uncovered so far,” said McKinney Police Chief Joe Ellenburg in a statement. “This highlights the growing threat of financial exploitation targeting older adults. We are committed to working with partner agencies across Texas to stop these crimes and protect vulnerable populations.” 

The investigation remains active.