In a brief court appearance Thursday, Sarachilli waived charges of forgery, theft, receiving stolen property and related offenses to Bucks County Court. She remains free after posting 10 percent of her $100,000 bail.
Bensalem police started investigating Sarachilli after one of the estate’s beneficiaries filed a complaint alleging she was using some of the trust money for her personal use.
The late Renate Aversano had a will drawn up in June 2008 that named Sarachilli, a friend and former banker, as her power of attorney and trust executor. A close friend, two relatives and two charities were named as Aversano’s beneficiaries.
Six months later, Sarachilli placed Aversano in an assisted living center paid for by trust assets. She lived there until her death in June 2011.
As of February 2009, Aversano’s investments were worth $648,000, not including her home, which was valued at about $300,000, but as of April 2012, the account balance dropped to $33,297, according to police. Police also learned that Aversano’s home — which had been paid for in full — was in mortgage default.
Sarachilli refused to provide police and the beneficiaries with bank documents, financial statements and copies of checks distributed from the trust. Police obtained a search warrant to collect the trust’s financial records between January 2008 and June 2012.
The records showed $280,358 was withdrawn from the accounts, according to court documents. Sarachilli voluntarily removed herself as executor in November after the beneficiaries filed a petition in Bucks County Orphan’s Court.
Bensalem police started investigating Sarachilli after one of the estate’s beneficiaries filed a complaint alleging she was using some of the trust money for her personal use.
The late Renate Aversano had a will drawn up in June 2008 that named Sarachilli, a friend and former banker, as her power of attorney and trust executor. A close friend, two relatives and two charities were named as Aversano’s beneficiaries.
Six months later, Sarachilli placed Aversano in an assisted living center paid for by trust assets. She lived there until her death in June 2011.
As of February 2009, Aversano’s investments were worth $648,000, not including her home, which was valued at about $300,000, but as of April 2012, the account balance dropped to $33,297, according to police. Police also learned that Aversano’s home — which had been paid for in full — was in mortgage default.
Sarachilli refused to provide police and the beneficiaries with bank documents, financial statements and copies of checks distributed from the trust. Police obtained a search warrant to collect the trust’s financial records between January 2008 and June 2012.
The records showed $280,358 was withdrawn from the accounts, according to court documents. Sarachilli voluntarily removed herself as executor in November after the beneficiaries filed a petition in Bucks County Orphan’s Court.
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