Dripping Springs Man Rips Off A 93 Year Old And Goes Shopping
Robbie Dale Walker of Dripping Springs allegedly promised a 93 year old Hays County woman that she could get a 15% annual return on her money if she would invest in an oil and gas deal in North Dakota, according to a news release by the State of Texas Securities Board. According to Hays County Sheriff’s Office documentation, Walker was the son of the 93 year old’s best friend.
The investment fraud began in 2009, when Walker convinced the elderly lady to give him $100,000 on two different occasions. On one occasion, the money came from a bank loan the lady secured with a certificate of deposit (CD) she held. Her total losses were $216,273, which includes bank fees and missed interest payments.
The scheme had all of the makings of a novel including an elderly target, promises of big returns, wealth from the oil patch and lavish spending. Robbie Dale Walker took the money from the victim and went on lavish spending sprees, including big ticket items from Best Buy, Tiffany and Company and Louis Vuitton, among others. He also used some of the money to sign up for online dating through Match.com. According to the records, none of the money taken from the lady was used to invest in the oil patch.