Thompson

A Davenport man has been arrested and charged with financial exploitation of an older individual, a Class B felony, after allegedly assisting in spending over $500,000 in money belonging to a pair of Marshalltown residents over the age of 80.

Per court records, Jeremy Paul Thompson, 54, was taken into custody on June 8 in Bettendorf after a warrant for his arrest was issued by the Marshalltown Police Department (MPD) on June 4. According to a criminal complaint, the MPD launched an investigation on Nov. 7, 2024 in conjunction with the Iowa Department of Health and Human Services and determined that the aforementioned amount had been spent.

“The amount spent was a breach of Jeremy’s fiduciary duty. Jeremy admitted to spending money. The bank account was subsequently frozen by the bank due to the amount of money being spent. Power of attorney was revoked after the investigation,” the report reads.

His bond was initially set at $100,000 cash only, but it was subsequently reduced to $25,000 cash or surety. A preliminary hearing is set for Friday, June 20 at 9:30 a.m.

Marshalltown Police Chief Chris Jones told the T-R he could not share any further information as the case remains open.