Texas Man Accused in $2 Million Financial Abuse Case

Smith County investigators say a Tyler-area man accused of financially exploiting multiple victims may be responsible for more than $2 million in losses. Investigators say that at least seven victims have been identified, including an elderly woman.

37-year-old David Michael Nick has been charged with financial abuse of an elderly individual involving more than $150,000.

How the Investigation Began

On April 7, investigators first met with a 77-year-old woman who said that she was financially exploited by Nick. She told investigators she had been friends with Nick for several years before he asked her to write a $34,000 check to post bond following a recent arrest.

A few days later, the victim was informed that the bail bond company would be reporting her to the District Attorney's Office for issuing a check with insufficient funds. After reviewing her bank records, she quickly realized that a large amount of money had been withdrawn without her permission or knowledge.

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What Investigators Found in Financial Records

Investigators determined the checks had been deposited into Nick's personal account. Investigators say Nick used part of the money to make a payment to adult probation.

Law enforcement has now identified an additional $2 million in losses involving at least six other victims, and the Smith County Sheriff's Office believes there could be more victims that have been defrauded by Nick.

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What To Do If You Believe You're a Victim

The investigation remains ongoing., and if you believe you have been a victim of Nick, you're being asked to contact Detective Justin Eakin with the Smith County Sheriff's Office.

All suspects are presumed innocent unless proven guilty in a court of law.