Elderly Couple Steals $2M From Vets

HOUSTON - A Houston lawyer and his wife were indicted on allegations that they conspired to steal $2 million from military veterans.

Joe Phillips, 71, and Dorothy Phillips, 70, surrendered to authorities on Tuesday.

A Houston grand jury charged the couple with conspiracy, misappropriation of a fiduciary, making materially false statements to a federal agency, and tax fraud.

Joe was appointed as the legal guardian and fiduciary for a number of veterans deemed "incompetent", according to a Texas Attorney General's Office statement.

Dorothy served as Joe's legal assistant and office manager at his law firm.

Joe's duty was to operate and maintain the bank accounts of the veterans to receive payments from the VA and SSA for ordinary and customary living expenses.

Both Joe and Dorothy are accused of stealing the money from those accounts by transferring funds to Joe's personal account.

This began in Jan 2003 and ended in Feb 2008, according to the statement.

They are also accused of lying to the veterans about how much money they had in their accounts and failing to report hundreds of thousands of dollars in tax receipts.

The tax fraud charge carries a maximum three year prison sentence while every other individual offense carries a maximum five-year prison sentence.

If found guilty, the Phillips may have to pay a $250,000 fine and restitution.