LEXINGTON COUNTY, SC — A South Carolina man has been arrested on charges of exploiting a vulnerable adult after authorities allege he stole approximately $48,529 from a nursing home resident's bank account, according to reports from local law enforcement.
Cory Daniel Busbee was taken into custody on February 20, 2026, facing allegations that he misused his power of attorney authority to systematically drain funds from the victim's financial accounts, as reported by herecolumbia.com. The charges represent the latest case in a growing pattern of financial exploitation targeting elderly individuals residing in long-term care facilities across South Carolina.
According to the investigation, Busbee allegedly leveraged his legal access to the victim's finances to make unauthorized withdrawals totaling nearly $50,000. Power of attorney arrangements are designed to help vulnerable adults manage their financial affairs when they become incapacitated, but these legal instruments can be weaponized by unscrupulous individuals who exploit the trust placed in them.
Financial exploitation of nursing home residents represents one of the most prevalent forms of elder abuse in the United States. Federal data indicates that elderly Americans lose an estimated $2.9 billion annually to financial scams and exploitation, with individuals in care facilities facing particularly high risk due to cognitive decline, social isolation, and dependence on caregivers and appointed representatives.
South Carolina law classifies exploitation of vulnerable adults as a serious criminal offense, with penalties varying based on the amount stolen. Cases involving thefts exceeding $10,000 can result in felony charges carrying significant prison sentences and restitution requirements.
The arrest underscores the critical importance of oversight mechanisms for individuals holding power of attorney over nursing home residents. Family members and facility staff should maintain vigilance for warning signs of financial exploitation, including unexplained withdrawals, sudden changes in spending patterns, missing property, or reluctance by the designated representative to provide account documentation.
Warning Signs and Prevention
Financial institutions and nursing home facilities have a responsibility to report suspected exploitation under South Carolina's mandatory reporting laws. Bank personnel who notice unusual transaction patterns involving elderly account holders are required to flag potential abuse to Adult Protective Services.
Families placing loved ones in nursing homes should carefully consider who receives power of attorney designation and implement safeguards such as requiring dual signatures for large transactions, regular account reviews, and explicit limitations on the authority granted. Some experts recommend establishing trusts or appointing professional fiduciaries rather than individual family members when substantial assets are involved.
Resources for Families
Family members who suspect financial exploitation of a nursing home resident should immediately contact Adult Protective Services and local law enforcement. South Carolina operates a dedicated hotline for reporting elder abuse and exploitation.
The National Long-Term Care Ombudsman Resource Center provides free advocacy services for nursing home residents and their families. The organization can be reached at 1-800-677-1116 or through their website at https://ltcombudsman.org.
Residents and family members can also file complaints directly with the South Carolina Department of Health and Environmental Control, which oversees nursing home licensing and investigates allegations of abuse, neglect, and exploitation within long-term care facilities.
Financial institutions offer additional protections through programs designed to detect elder financial abuse. Many banks now provide specialized training to employees on recognizing exploitation patterns and have established protocols for placing temporary holds on suspicious transactions while investigations proceed.
Anyone with information about this case or similar incidents of nursing home financial exploitation is encouraged to contact the Lexington County Sheriff's Department or Adult Protective Services. Early reporting can prevent ongoing theft and help protect other vulnerable adults from similar victimization.
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