Toronto socialite accused of stealing millions from a 92-year-old with dementia

Toronto socialite accused of stealing millions from a 92-year-old with dementia

Nancy Tsai at a Toronto charity ball, date unknown. (Image: Courtesy of Brazilian Carnival Ball) Nancy Tsai at a Toronto charity ball, date unknown. (Image: Courtesy of Brazilian Carnival Ball)
 
Here’s a story Toronto will be hearing more about: Nancy Tsai, once a key figure in Toronto’s charity-gala scene and founder of the Canadian Breast Cancer Foundation, has been charged with defrauding a 92-year-old out of millions of dollars. The alleged victim, Helga Marston, was being treated for dementia at an assisted living facility in West Palm Beach. According to the Globe, Tsai, now 66, had been living in Palm Beach since at least 2006, when she divorced her Wall Street fund-manager husband, Gerald Tsai.

The Globe says police believe Tsai gained Marston’s power of attorney and was eventually given discretion over a large trust fund. Investigators allege that Tsai spent the money on a vast array of luxury purchases, including a $2.3 million oceanfront condo, a Bentley coupe and around $18,000 in restaurant meals.