A Los Angeles man who held power of attorney over elderly clients and his accountant have been charged with stealing more than $6 million from the very people they were hired to protect, according to California Attorney General Rob Bonta.
Prosecutors allege Gregory Oveross and Faranita Corvalan misused their positions of trust while managing multiple client trusts, estates, and conservatorships. The charges were filed last month in downtown Los Angeles following a state investigation into financial activity spanning several years.
Allegations and Charges
According to the California Department of Justice, investigators examined five separate client accounts tied to elderly or dependent adults. Prosecutors allege that between August 2018 and October 2025, Oveross and Corvalan diverted funds without authorization, violated probate court rules, and conspired to steal from their clients while also evading income taxes.
Authorities say Oveross allegedly wrote checks to himself and to Corvalan, resulting in a net loss of more than $6 million from client accounts.
Both defendants face multiple felony charges, including grand theft, grand theft from an elder or dependent adult, and failure to file an income tax return.
Role of the Investigation
The case was developed through a review of financial records connected to trusts, estates, and conservatorships that were under court supervision. Prosecutors allege the defendants failed to follow required safeguards designed to protect vulnerable clients, including restrictions on self-dealing and mandatory court approvals for certain financial transactions.
State officials have not disclosed the identities of the affected clients, citing privacy concerns.
Attorney General’s Statement
Attorney General Rob Bonta said the charges reflect the state’s focus on protecting elderly Californians from financial exploitation.
“Bad actors who intentionally prey on the most vulnerable within our state will be swiftly brought to justice,” Bonta said in a statement. “Our elders deserve to be treated with respect, care, and dignity, not victimized.”
What Happens Next
Court proceedings are expected to continue in Los Angeles County. Prosecutors have not announced trial dates or whether additional charges could be filed as the case moves forward.
Authorities emphasized that the charges are allegations, and both defendants are presumed innocent unless and until proven guilty in court.
FAQs
Who is accused in the case?
Gregory Oveross and accountant Faranita Corvalan.
How much money was allegedly stolen?
Prosecutors say more than $6 million.
Who were the alleged victims?
Elderly and dependent adult clients.
What charges were filed?
Grand theft, elder theft, and tax-related charges.
Who announced the charges?
California Attorney General Rob Bonta.
