senator susan collins chairs the hearing. it s an hour and a half. good afternoon. earlier this month, a former state legislature, legislator in maine, was convicted of carrying out one of the worst cases of elder financial abuse in our state s history. the man who is also a securities agent was found guilty of stealing more than $3 million from two elderly widows. while these women viewed the man as the protector of their accounts, in reality, he actually preyed on their trust and vulnerability after their husbands died. rather than protecting them, this individual slowly drained their bank accounts over a period of seven years, according to the courts. maine found that the man used his position as a trusted financial professional and a close family friend to groom his victims in order to commit his crimes. he ingratiated himself with these families, assuming power of attorney and becoming the trustee of their accounts. he used the funds under his control as his personal pig
Health care executives will praise the use of artificial intelligence in the industry before Congress today — but the hearing is unlikely to move the needle on regulation.